Nike Now Yields More Than Coca-Cola. Is the Turnaround Finally Priced In?

Nike's 4% dividend yield now exceeds Coca-Cola's 2.4%, reflecting a depressed share price rather than financial weakness. The article argues Nike's stock may be undervalued ahead of a successful turnaround, supported by strong performance in Nike Running (five quarters of double-digit growth), improving margins, and a discounted price-to-sales ratio of 1.3x versus historical 2.0x+. While recent revenue declined 2% on a currency-neutral basis, management expects free cash flow to rebound to $3 billion in fiscal 2027, making the dividend sustainable and offering potential for both income and capital appreciation.