Dow Component Nike (NKE) To Go Ex-dividend Tomorrow

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

The Dow Jones Industrial Average ( ^DJI) is trading up 47 points (+0.3%) at 16,226 as of Wednesday, Feb 26, 2014, 10:35 a.m. ET. During this time, 104.1 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 394.3 million. The NYSE advances/declines ratio sits at 2,006 issues advancing vs. 846 declining with 186 unchanged.
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Thursday, February 27, 2014 is the ex-dividend date for Dow component Nike (NYSE: NKE). Owners of shares as of market close today will be eligible for a dividend of 24 cents per share. At a price of $78.96 as of 10:35 a.m. ET, the dividend yield is 1.2% compared to the average Dow component yield of 2.7%.

The average volume for Nike has been 3.9 million shares per day over the past 30 days. Nike has a market cap of $55.07 billion and is part of the consumer goods sector and consumer non-durables industry. Shares are down 0.7% year to date as of Tuesday's close.

NIKE, Inc., together with its subsidiaries, engages in the design, development, marketing, and sale of athletic footwear, apparel, equipment, and accessories, as well as in the provision of services to men, women, and kids worldwide. The company has a P/E ratio of 26.5, above the average consumer non-durables industry P/E ratio of 24.9.
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TheStreet Ratings rates Nike as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow.

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