NIKE, Inc. (NYSE:NKE – Get Rating) announced a quarterly dividend on Thursday, May 5th, Zacks reports. Stockholders of record on Monday, June 6th will be given a dividend of 0.305 per share by the footwear maker on Friday, July 1st. This represents a $1.22 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Friday, June 3rd.
NIKE has increased its dividend by an average of 11.3% per year over the last three years and has increased its dividend every year for the last 21 years. NIKE has a dividend payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect NIKE to earn $4.60 per share next year, which means the company should continue to be able to cover its $1.22 annual dividend with an expected future payout ratio of 26.5%.
NYSE:NKE opened at $114.49 on Friday. NIKE has a twelve month low of $110.66 and a twelve month high of $179.10. The company has a market cap of $180.18 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 2.42 and a beta of 0.95. The stock has a fifty day simple moving average of $128.89 and a 200-day simple moving average of $148.39. The company has a current ratio of 3.06, a quick ratio of 2.18 and a debt-to-equity ratio of 0.64.
Hedge funds and other institutional investors have recently modified their holdings of the business. OLD Mission Capital LLC acquired a new stake in NIKE in the third quarter worth about $338,000. EverSource Wealth Advisors LLC acquired a new stake in shares of NIKE during the fourth quarter worth about $212,000. Morgan Stanley lifted its holdings in shares of NIKE by 3.2% during the second quarter. Morgan Stanley now owns 17,340,384 shares of the footwear maker’s stock worth $2,678,912,000 after purchasing an additional 543,451 shares during the period. Toroso Investments LLC lifted its holdings in shares of NIKE by 5.8% during the fourth quarter. Toroso Investments LLC now owns 37,138 shares of the footwear maker’s stock worth $6,190,000 after purchasing an additional 2,039 shares during the period. Finally, Vident Investment Advisory LLC lifted its holdings in shares of NIKE by 29.9% during the fourth quarter. Vident Investment Advisory LLC now owns 21,960 shares of the footwear maker’s stock worth $3,661,000 after purchasing an additional 5,054 shares during the period. 65.35% of the stock is owned by institutional investors and hedge funds.
NKE has been the topic of several research reports. Morgan Stanley cut their price target on NIKE from $202.00 to $192.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 15th. Cowen cut their price target on NIKE from $192.00 to $144.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 8th. The Goldman Sachs Group set a $177.00 price target on NIKE in a research note on Tuesday, March 22nd. Deutsche Bank Aktiengesellschaft raised their price target on NIKE from $173.00 to $175.00 in a research note on Tuesday, March 22nd. Finally, UBS Group set a $173.00 price target on NIKE in a research note on Tuesday, March 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $172.41.
NIKE Company Profile (Get Rating)
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, including 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, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.
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