NIKE, Inc. (NYSE:NKE) Announces Quarterly Dividend of $0.41

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

NIKE has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 22 consecutive years. NIKE has a dividend payout ratio of 63.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect NIKE to earn $2.35 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 69.8%.

NIKE Trading Down 1.3%

NYSE NKE opened at $41.91 on Friday. The company has a market capitalization of $62.18 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. NIKE has a one year low of $40.00 and a one year high of $80.17. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. The company’s 50-day simple moving average is $43.28 and its two-hundred day simple moving average is $49.61.

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

Insider Activity

In related news, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the transaction, the executive vice president owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. This represents a 24.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after acquiring an additional 160,980 shares in the last quarter. Caxton Associates LLP acquired a new stake in NIKE during the 1st quarter worth approximately $311,000. United Bank grew its position in NIKE by 11.3% in the 2nd quarter. United Bank now owns 17,067 shares of the footwear maker’s stock valued at $1,212,000 after buying an additional 1,736 shares during the last quarter. NewEdge Advisors LLC lifted its position in NIKE by 0.3% in the second quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock valued at $4,558,000 after purchasing an additional 197 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of NIKE by 6.5% during the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock worth $13,588,000 after purchasing an additional 11,646 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

About NIKE

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).