Gladius Capital Management LP Boosts Position in NIKE, Inc. (NYSE:NKE)

Gladius Capital Management LP boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 18.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,573 shares of the footwear maker’s stock after purchasing an additional 862 shares during the period. NIKE makes up 0.1% of Gladius Capital Management LP’s holdings, making the stock its 20th biggest holding. Gladius Capital Management LP’s holdings in NIKE were worth $493,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NKE. Transcendent Capital Group LLC lifted its holdings in NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares during the last quarter. VitalStone Financial LLC lifted its stake in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the period. Triad Wealth Partners LLC acquired a new stake in shares of NIKE during the second quarter valued at about $44,000. Finally, Riverview Trust Co acquired a new stake in NIKE in the 3rd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Sanford C. Bernstein decreased their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Stifel Nicolaus lowered their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Royal Bank of Canada dropped their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. UBS Group increased their target price on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Piper Sandler restated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $96.48.

NIKE Trading Up 1.3 %

NKE opened at $76.66 on Friday. The firm has a market cap of $114.94 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The business’s 50 day moving average is $80.89 and its two-hundred day moving average is $83.20. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. NIKE’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, research analysts predict that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. NIKE’s dividend payout ratio is 42.41%.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.