NIKE, Inc. (NYSE:NKE) Declares $0.40 Quarterly Dividend

Key Points

• NIKE, Inc. declared a quarterly dividend of $0.40 per share, which will be paid to investors on October 1st, representing an annualized yield of 2.2%.
• The company's earnings outlook is positive, with analysts predicting earnings of $2.34 per share for next year, indicating that the dividend is well-supported by earnings.
• Recently, Chairman Mark G. Parker sold 110,000 shares of NIKE, reducing his ownership by 11.55% but still retaining a significant stake valued at approximately $60.9 million.

NIKE, Inc. (NYSE:NKE - Get Free Report) declared a quarterly dividend on Thursday, August 7th, RTT News reports. Investors of record on Tuesday, September 2nd will be paid a dividend of 0.40 per share by the footwear maker on Wednesday, October 1st. This represents a c) dividend on an annualized basis and a yield of 2.2%.

NIKE has a dividend payout ratio of 61.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect NIKE to earn $2.34 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 68.4%.

NIKE Trading Down 1.6%

NYSE NKE traded down $1.20 on Thursday, hitting $74.28. 8,711,203 shares of the company were exchanged, compared to its average volume of 17,237,033. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE has a twelve month low of $52.28 and a twelve month high of $90.62. The firm has a market capitalization of $109.71 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 2.70 and a beta of 1.27. The company's 50 day moving average price is $69.17 and its 200-day moving average price is $67.61.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The firm's quarterly revenue was down 11.9% on a year-over-year basis. Analysts predict that NIKE will post 2.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On NIKE

Large investors have recently bought and sold shares of the business. Spire Wealth Management raised its stake in NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after buying an additional 416 shares during the period. Capitolis Liquid Global Markets LLC raised its holdings in NIKE by 40.9% during the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock worth $23,458,000 after buying an additional 90,000 shares during the period. Janus Henderson Group PLC raised its holdings in shares of NIKE by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock worth $460,160,000 after acquiring an additional 463,470 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of NIKE by 0.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after purchasing an additional 5,601 shares during the period. Finally, Evergreen Capital Management LLC boosted its position in shares of NIKE by 3.3% during the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock worth $18,042,000 after buying an additional 7,536 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.

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