Fintel reports that on September 25, 2023, Jefferies downgraded their outlook for Nike, Inc. – Class B (NYSE:NKE) from Buy to Hold.
Analyst Price Forecast Suggests 41.79% Upside
As of August 31, 2023, the average one-year price target for Nike, Inc. – Class B is 128.81. The forecasts range from a low of 92.92 to a high of $159.46. The average price target represents an increase of 41.79% from its latest reported closing price of 90.85.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Nike, Inc. – Class B is 53,426MM, an increase of 4.31%. The projected annual non-GAAP EPS is 3.80.
Nike, Inc. – Class B Declares $0.34 Dividend
On August 3, 2023 the company declared a regular quarterly dividend of $0.34 per share ($1.36 annualized). Shareholders of record as of September 5, 2023 will receive the payment on October 2, 2023. Previously, the company paid $0.34 per share.
At the current share price of $90.85 / share, the stock’s dividend yield is 1.50%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.00%, the lowest has been 0.64%, and the highest has been 1.56%. The standard deviation of yields is 0.19 (n=236).
The current dividend yield is 2.62 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.41. 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.
What is the Fund Sentiment?
There are 3501 funds or institutions reporting positions in Nike, Inc. – Class B. This is a decrease of 146 owner(s) or 4.00% in the last quarter. Average portfolio weight of all funds dedicated to NKE is 0.52%, a decrease of 16.60%. Total shares owned by institutions decreased in the last three months by 2.12% to 1,089,678K shares. The put/call ratio of NKE is 1.09, indicating a bearish outlook.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 38,400K shares representing 2.51% ownership of the company. In it’s prior filing, the firm reported owning 38,491K shares, representing a decrease of 0.24%. The firm decreased its portfolio allocation in NKE by 17.16% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 29,336K shares representing 1.92% ownership of the company. In it’s prior filing, the firm reported owning 29,066K shares, representing an increase of 0.92%. The firm decreased its portfolio allocation in NKE by 17.73% over the last quarter.
Wellington Management Group Llp holds 28,656K shares representing 1.87% ownership of the company. In it’s prior filing, the firm reported owning 32,181K shares, representing a decrease of 12.30%. The firm decreased its portfolio allocation in NKE by 23.53% over the last quarter.
Geode Capital Management holds 22,910K shares representing 1.50% ownership of the company. In it’s prior filing, the firm reported owning 22,479K shares, representing an increase of 1.88%. The firm decreased its portfolio allocation in NKE by 17.03% over the last quarter.
Alliancebernstein holds 22,372K shares representing 1.46% ownership of the company. In it’s prior filing, the firm reported owning 20,878K shares, representing an increase of 6.68%. The firm decreased its portfolio allocation in NKE by 8.09% 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 article originally appeared on Fintel
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