Nike (NKE) Declares $0.34 Dividend

Nike said on May 4, 2023 that its board of directors declared a regular quarterly dividend of $0.34 per share ($1.36 annualized). Previously, the company paid $0.34 per share.

Shares must be purchased before the ex-div date of June 2, 2023 to qualify for the dividend. Shareholders of record as of June 5, 2023 will receive the payment on July 5, 2023.

At the current share price of $126.59 / share, the stock's dividend yield is 1.07%.

Looking back five years and taking a sample every week, the average dividend yield has been 0.98%, the lowest has been 0.64%, and the highest has been 1.56%. The standard deviation of yields is 0.18 (n=237).

The current dividend yield is 0.53 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.38. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.39%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 3628 funds or institutions reporting positions in Nike. This is an increase of 150 owner(s) or 4.31% in the last quarter. Average portfolio weight of all funds dedicated to NKE is 0.58%, an increase of 31.05%. Total shares owned by institutions decreased in the last three months by 0.74% to 1,134,452K shares. The put/call ratio of NKE is 1.26, indicating a bearish outlook.

• For more in-depth coverage of Nike, view the free, crowd-sourced company research report on Finpedia.

Analyst Price Forecast Suggests 8.78% Upside

As of April 24, 2023, the average one-year price target for Nike is 137.70. The forecasts range from a low of 98.98 to a high of $168.00. The average price target represents an increase of 8.78% from its latest reported closing price of 126.59.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Nike is 49,389MM, a decrease of 2.44%. The projected annual non-GAAP EPS is 3.01.

What are Other Shareholders Doing?

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 38,290K shares representing 2.49% ownership of the company. In it's prior filing, the firm reported owning 37,719K shares, representing an increase of 1.49%. The firm increased its portfolio allocation in NKE by 31.97% over the last quarter.

Wellington Management Group Llp holds 32,637K shares representing 2.12% ownership of the company. In it's prior filing, the firm reported owning 33,272K shares, representing a decrease of 1.95%. The firm increased its portfolio allocation in NKE by 30.00% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 29,120K shares representing 1.89% ownership of the company. In it's prior filing, the firm reported owning 28,646K shares, representing an increase of 1.63%. The firm increased its portfolio allocation in NKE by 31.84% over the last quarter.

Geode Capital Management holds 22,362K shares representing 1.45% ownership of the company. In it's prior filing, the firm reported owning 22,228K shares, representing an increase of 0.60%. The firm increased its portfolio allocation in NKE by 30.92% over the last quarter.

Bank of New York Mellon holds 21,680K shares representing 1.41% ownership of the company. In it's prior filing, the firm reported owning 22,499K shares, representing a decrease of 3.78%. The firm increased its portfolio allocation in NKE by 27.62% over the last quarter.

Nike Background Information
(This description is provided by the company.)

NIKE, Inc., based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories.

This story originally appeared on Fintel.