Barron's reported on September 25, 2026, that Nike shares fell after a Bank of America downgrade over concerns about innovation, wholesale revenues and softening demand. A post also quotes BofA projecting fiscal 2027 earnings of $1.53 per share against dividends of $1.64 per share—a 107% payout ratio, easing to a still-elevated 86% in fiscal 2028. In the quoted analysis, BofA says the dividend's sustainability increasingly depends on Nike delivering the earnings recovery in its estimates; further earnings pressure could put the dividend at risk.