Nike Inc (NYSE:NKE) Declares $0.25 Quarterly Dividend
Nike Inc (NYSE:NKE) announced a quarterly dividend on Thursday, February 13th, RTT News reports. Stockholders of record on Monday, March 2nd will be paid a dividend of 0.245 per share by the footwear maker on Wednesday, April 1st. This represents a $0.98 dividend on an annualized basis and a dividend yield of 0.95%.
Nike has raised its dividend by an average of 9.8% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Nike has a payout ratio of 32.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Nike to earn $3.49 per share next year, which means the company should continue to be able to cover its $0.98 annual dividend with an expected future payout ratio of 28.1%.
Shares of NKE stock traded down $0.19 on Friday, reaching $103.18. The stock had a trading volume of 379,223 shares, compared to its average volume of 5,898,812. The company has a quick ratio of 1.23, a current ratio of 1.98 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average is $101.28 and its two-hundred day moving average is $92.83. The firm has a market capitalization of $155.77 billion, a price-to-earnings ratio of 36.08, a P/E/G ratio of 2.40 and a beta of 0.83. Nike has a 12 month low of $77.07 and a 12 month high of $105.62.
NKE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Nike from $110.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Cowen reaffirmed a “buy” rating and issued a $106.00 target price on shares of Nike in a report on Friday, December 20th. Bank of America reaffirmed a “neutral” rating and issued a $105.00 target price (up from $98.00) on shares of Nike in a report on Tuesday, December 10th. Argus upped their target price on shares of Nike from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 24th. They noted that the move was a valuation call. Finally, Needham & Company LLC upped their price target on shares of Nike from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. Nike presently has an average rating of “Buy” and a consensus price target of $107.54.
In related news, CAO Hilary K. Krane sold 28,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $101.00, for a total value of $2,828,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark G. Parker sold 165,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $93.55, for a total transaction of $15,435,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,046,040 shares of the company’s stock, valued at approximately $191,407,042. The disclosure for this sale can be found here. In the last three months, insiders sold 436,916 shares of company stock valued at $43,122,614. 3.80% of the stock is owned by insiders.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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