Wells Fargo has maintained its overweight recommendation for Nike, Inc. – Class B (NKE) on September 18, 2023, according to Fintel. The average one-year price target for NKE is $128.81, suggesting a potential upside of 34.85% from its current closing price of $95.52. Nike is projected to have an annual revenue of $53,426MM, representing a 4.31% increase. The projected annual non-GAAP EPS is 3.80. Nike, Inc. – Class B has 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. At the current share price, the stock’s dividend yield is 1.42%. Looking back over the past five years, the average dividend yield has been 1.00%, with a low of 0.64% and a high of 1.56%. The current dividend yield is 2.24 standard deviations above the historical average. The company’s dividend payout ratio is 0.41, indicating that it pays out 41% of its income as dividends. In terms of institutional ownership, Vanguard Total Stock Market Index Fund Investor Shares holds 38,400K shares (2.51% ownership), while Vanguard 500 Index Fund Investor Shares holds 29,336K shares (1.92% ownership). Wellington Management Group Llp holds 28,656K shares (1.87% ownership), and Geode Capital Management holds 22,910K shares (1.50% ownership). Alliancebernstein holds 22,372K shares (1.46% ownership). NIKE, Inc. is a global leader in designing, marketing, and distributing athletic footwear, apparel, equipment, and accessories. Its subsidiary brand, Converse, focuses on athletic lifestyle products. Fintel is a comprehensive investing research platform that provides data on fundamentals, analyst reports, ownership data, and fund sentiment, among other features. Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect those of Nasdaq, Inc. Source: Fintel

By James TaylorSeptember 18, 2023Updated:September 18, 2023No Comments1 Min Read