Peapack Gladstone Financial Corp increased its position in shares of Nike, Inc. (NYSE:NKE) by 6.6% during the first quarter, according to its most recent filing 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.
A number of other hedge funds and other institutional investors have also bought and sold shares of NKE. Webster Bank N. A. raised its position in Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock valued at $117,000 after buying an additional 900 shares during the period. Crestwood Advisors Group LLC acquired a new position in Nike during the first quarter valued at about $117,000. Gierl Augustine Investment Management Inc raised its position in Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock valued at $118,000 after buying an additional 107 shares during the period. Asset Planning Services Ltd. acquired a new position in Nike during the first quarter valued at about $118,000. Finally, Rational Advisors LLC raised its position in Nike by 14.3% in the first quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock valued at $143,000 after buying an additional 321 shares during the period. Hedge funds and other institutional investors own 63.47% of the company’s stock.
Nike, Inc. (NYSE NKE) opened at 54.95 on Friday. The stock has a market cap of $90.29 billion, a P/E ratio of 21.89 and a beta of 0.59. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.53. The company’s 50-day moving average price is $58.64 and its 200-day moving average price is $55.77. Nike also saw unusually large options trading on Wednesday. Stock investors acquired 14,365 call options on the company. This is an increase of approximately 228% compared to the typical daily volume of 4,379 call options.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The company had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.63 billion. During the same quarter in the prior year, the company posted $0.49 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts forecast that Nike, Inc. will post $2.42 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s dividend payout ratio is presently 28.69%.
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NKE has been the topic of several research analyst reports. Berenberg Bank reiterated a “buy” rating and set a $70.00 price objective on shares of Nike in a research report on Wednesday, June 14th. Instinet reissued a “buy” rating on shares of Nike in a research note on Monday, May 15th. Nomura reaffirmed a “buy” rating on shares of Nike in a research note on Monday, May 15th. Jefferies Group LLC reiterated a “buy” rating and issued a $75.00 target price on shares of Nike in a report on Monday, May 15th. Finally, Deutsche Bank AG restated a “buy” rating and set a $64.00 price objective on shares of Nike in a report on Saturday, April 22nd. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $61.04.
In other news, CFO Andrew Campion sold 96,243 shares of the firm’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the completion of the sale, the chief financial officer now directly owns 50,246 shares in the company, valued at $2,847,943.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Hilary K. Krane sold 28,072 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $58.10, for a total value of $1,630,983.20. Following the sale, the chief accounting officer now owns 177,723 shares of the company’s stock, valued at $10,325,706.30. The disclosure for this sale can be found here. Insiders sold a total of 492,360 shares of company stock worth $28,485,174 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.
Nike Company Profile
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.
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