Nike, Inc. (NYSE:NKE) Shares Bought by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp increased its stake in Nike, Inc. (NYSE:NKE) by 6.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,492 shares of the footwear maker’s stock after buying an additional 2,649 shares during the period. Peapack Gladstone Financial Corp’s holdings in Nike were worth $2,368,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of Nike by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 29,087,830 shares of the footwear maker’s stock valued at $1,621,066,000 after buying an additional 144,846 shares during the period. Jennison Associates LLC raised its stake in Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock valued at $1,401,251,000 after buying an additional 13,953,567 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Nike by 10.0% in the first quarter. UBS Asset Management Americas Inc. now owns 5,665,209 shares of the footwear maker’s stock valued at $315,722,000 after buying an additional 516,082 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Nike by 20.7% in the first quarter. Canada Pension Plan Investment Board now owns 5,224,981 shares of the footwear maker’s stock valued at $291,188,000 after buying an additional 896,319 shares during the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt raised its stake in Nike by 2.8% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,839,900 shares of the footwear maker’s stock valued at $269,728,000 after buying an additional 129,900 shares during the last quarter. Institutional investors own 64.77% of the company’s stock.

Shares of Nike, Inc. (NYSE:NKE) traded down 0.17% during mid-day trading on Friday, reaching $58.97. 4,979,994 shares of the company’s stock were exchanged. Nike, Inc. has a 1-year low of $49.01 and a 1-year high of $60.53. The stock has a market capitalization of $96.90 billion, a PE ratio of 23.49 and a beta of 0.59. The company’s 50 day moving average is $57.77 and its 200 day moving average is $55.57.

Nike (NYSE:NKE) last issued its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.10. The business had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 earnings per share. Equities research analysts anticipate that Nike, Inc. will post $2.42 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Thursday, August 31st. Nike’s dividend payout ratio (DPR) is 28.69%.

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Several analysts have issued reports on NKE shares. Vetr lowered shares of Nike from a “buy” rating to a “hold” rating and set a $58.44 price target for the company. in a research report on Monday, April 17th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $62.00 price target on shares of Nike in a research report on Tuesday, April 18th. Deutsche Bank AG restated a “buy” rating and set a $64.00 price target on shares of Nike in a research report on Saturday, April 22nd. Jefferies Group LLC restated a “buy” rating and set a $75.00 price target on shares of Nike in a research report on Friday, May 5th. Finally, Nomura restated a “buy” rating on shares of Nike in a research report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $61.04.

In related news, insider Eric D. Sprunk sold 50,000 shares of the firm’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the completion of the sale, the insider now directly owns 300,108 shares in the company, valued at $17,706,372. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric D. Sprunk sold 112,323 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the sale, the insider now owns 139,551 shares of the company’s stock, valued at $8,179,084.11. The disclosure for this sale can be found here. Insiders sold 492,360 shares of company stock valued at $28,485,174 over the last quarter. Company insiders own 3.90% of the company’s stock.

About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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