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 down 34.0 points (-0.2%) at 16,641 as of Wednesday, May 28, 2014, 10:36 a.m. ET. During this time, 66.1 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 380.9 million. The NYSE advances/declines ratio sits at 1,224 issues advancing vs. 1,679 declining with 175 unchanged.
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Thursday, May 29, 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 $76.40 as of 10:36 a.m. ET, the dividend yield is 1.3% compared to the average Dow component yield of 2.6%.

The average volume for Nike has been 3.7 million shares per day over the past 30 days. Nike has a market cap of $53.14 billion and is part of the consumer goods sector and consumer non-durables industry. Shares are down 2.6% 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 25.6, below the average consumer non-durables industry P/E ratio of 25.8.
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TheStreet Ratings rates Nike as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

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