NIKE, Inc. (NKE) to Distribute Quarterly Dividend of $0.41 on October 1st

NIKE, Inc. (NYSE:NKEGet Free Report) declared a quarterly dividend on Thursday, August 6th. Shareholders of record on Tuesday, September 1st will be paid a dividend of 0.41 per share by the footwear maker on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Tuesday, September 1st.

NIKE has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 22 years. NIKE has a dividend payout ratio of 63.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NIKE to earn $2.34 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 70.1%.

NIKE Trading Down 0.8%

NYSE NKE opened at $41.66 on Friday. The stock has a market capitalization of $61.81 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 1.86 and a beta of 1.11. The business’s fifty day moving average is $43.18 and its 200-day moving average is $49.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. NIKE has a one year low of $40.00 and a one year high of $80.17.

NIKE (NYSE:NKEGet Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter last year, the company posted $0.14 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities research analysts predict that NIKE will post 1.74 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Matthew Friend sold 2,463 shares of NIKE stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total transaction of $102,460.80. Following the completion of the sale, the chief financial officer owned 82,165 shares in the company, valued at approximately $3,418,064. This trade represents a 2.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Venkatesh Alagirisamy sold 890 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total value of $37,024.00. Following the transaction, the chief operating officer directly owned 74,820 shares in the company, valued at approximately $3,112,512. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 21,275 shares of company stock worth $964,723 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently made changes to their positions in NKE. Main Street Financial Solutions LLC bought a new position in shares of NIKE during the 2nd quarter valued at $311,000. Equity Investment Corp purchased a new position in NIKE in the 2nd quarter worth $99,531,000. Gould Capital LLC lifted its stake in NIKE by 79.0% in the second quarter. Gould Capital LLC now owns 1,133 shares of the footwear maker’s stock worth $47,000 after purchasing an additional 500 shares during the last quarter. Meeder Advisory Services Inc. lifted its stake in NIKE by 14.0% in the second quarter. Meeder Advisory Services Inc. now owns 26,710 shares of the footwear maker’s stock worth $1,096,000 after purchasing an additional 3,284 shares during the last quarter. Finally, Pavion Blue Capital LLC boosted its position in NIKE by 7.4% during the second quarter. Pavion Blue Capital LLC now owns 16,269 shares of the footwear maker’s stock valued at $668,000 after buying an additional 1,119 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

About NIKE

(Get Free Report)

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

See Also

Dividend History for NIKE (NYSE:NKE)

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