Peapack Gladstone Financial Corp Has $5.36 Million Stake in NIKE, Inc. (NYSE:NKE)

Peapack Gladstone Financial Corp grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 21.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 70,872 shares of the footwear maker’s stock after purchasing an additional 12,377 shares during the period. Peapack Gladstone Financial Corp’s holdings in NIKE were worth $5,363,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC lifted its position in NIKE by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock worth $1,915,110,000 after purchasing an additional 347,178 shares during the period. Bank of New York Mellon Corp boosted its stake in NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after buying an additional 3,121,929 shares in the last quarter. Norges Bank bought a new stake in NIKE in the 4th quarter valued at $1,126,288,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of NIKE by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,205,753 shares of the footwear maker’s stock valued at $696,599,000 after buying an additional 603,219 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NKE stock opened at $57.17 on Monday. NIKE, Inc. has a twelve month low of $52.50 and a twelve month high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market cap of $84.57 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. The business’s fifty day moving average is $72.96 and its 200-day moving average is $76.27.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s dividend payout ratio is currently 53.16%.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of analyst reports. Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and lowered their target price for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Morgan Stanley dropped their target price on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $80.00 price target on shares of NIKE in a research note on Monday, March 17th. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Finally, Barclays reduced their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Company 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.