Nike's ~4% forward yield suggests the stock could be undervalued and due for a rebound as the turnaround progresses. The payout ratio is elevated but Nike could see a rebound in profitability over the next year, helping support the dividend.
Nike's stock recently hit a 12-year low, but that doesn't mean it can't go lower. The company's turnaround isn't going well, and I think a drastic overhaul is needed.
Don Kaufman (@Theotrade) sees two strong bearish opportunities and one "shot" to the upside on Wednesday's Big 3. He sees a likely pullback in the State Street Health Care Sector SPDR ETF (XLV) amidst Moderna's (MRNA) stellar rally.
BlackRock Inc. reduced its stake in NIKE, Inc. (NYSE: NKE) by 10.9% during the undefined quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,814,490 shares of the footwear maker's stock after selling 9,984,473 shares during the period. BlackRock Inc. owned 5.51%