Nike Inc (NYSE:NKE) Plans Dividend Increase – $0.25 Per Share

Nike Inc (NYSE:NKE) declared a quarterly dividend on Thursday, November 14th, RTT News reports. Stockholders of record on Monday, December 2nd will be given a dividend of 0.245 per share by the footwear maker on Thursday, January 2nd. This represents a $0.98 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Friday, November 29th. This is a boost from Nike’s previous quarterly dividend of $0.22.

NYSE:NKE opened at $94.14 on Thursday. Nike has a fifty-two week low of $66.53 and a fifty-two week high of $96.87. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.01 and a quick ratio of 1.29. The stock has a market capitalization of $145.02 billion, a PE ratio of 37.81, a price-to-earnings-growth ratio of 2.39 and a beta of 0.83. The business’s 50-day simple moving average is $92.32 and its 200-day simple moving average is $86.86.

Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.15. Nike had a return on equity of 47.92% and a net margin of 10.81%. The business had revenue of $10.66 billion for the quarter, compared to analysts’ expectations of $10.43 billion. During the same quarter in the previous year, the business posted $0.67 EPS. Nike’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, research analysts expect that Nike will post 2.97 earnings per share for the current year.

In other Nike news, insider Elliott Hill sold 2,770 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $86.96, for a total transaction of $240,879.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 17,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $89.83, for a total value of $1,527,110.00. The disclosure for this sale can be found here. Insiders have sold a total of 436,445 shares of company stock worth $40,260,653 in the last ninety days. Insiders own 3.80% of the company’s stock.

Several equities analysts have recently weighed in on NKE shares. Argus lifted their price objective on Nike from $94.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, September 26th. They noted that the move was a valuation call. Piper Jaffray Companies lifted their target price on Nike from $97.00 to $101.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Barclays started coverage on Nike in a research report on Tuesday, November 12th. They issued an “overweight” rating and a $111.00 target price on the stock. Morgan Stanley lifted their target price on Nike from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Finally, Needham & Company LLC set a $98.00 target price on Nike and gave the company a “buy” rating in a research report on Friday, October 11th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $97.40.

About Nike

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.

Featured Article: How To Calculate Debt-to-Equity Ratio

Dividend History for Nike (NYSE:NKE)

Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.