Peapack Gladstone Financial Corp Has $5.17 Million Stake in NIKE, Inc. (NYSE:NKE)

Peapack Gladstone Financial Corp lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 8.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,495 shares of the footwear maker’s stock after selling 5,664 shares during the period. Peapack Gladstone Financial Corp’s holdings in NIKE were worth $5,171,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE in the third quarter worth $30,000. VitalStone Financial LLC raised its position in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the period. Dunhill Financial LLC lifted its holdings in shares of NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares in the last quarter. MFA Wealth Advisors LLC acquired a new position in shares of NIKE in the 2nd quarter valued at approximately $46,000. Finally, Strategic Financial Concepts LLC bought a new stake in NIKE during the 2nd quarter worth approximately $48,000. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

NYSE:NKE opened at $77.25 on Friday. The stock has a 50 day simple moving average of $78.52 and a 200 day simple moving average of $81.13. The stock has a market cap of $115.83 billion, a P/E ratio of 22.13, a PEG ratio of 1.93 and a beta of 1.02. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The company’s revenue was down 10.4% on a year-over-year basis. Research analysts anticipate that NIKE, Inc. will post 2.73 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is presently 45.85%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NKE. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Guggenheim lowered their target price on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Wells Fargo & Company boosted their price target on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Jefferies Financial Group lifted their target price on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, Truist Financial raised NIKE from a “hold” rating to a “buy” rating and upped their price target for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $94.04.

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.