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

Gladius Capital Management LP grew its position in shares of NIKE, Inc. (NYSE:NKE) by 18.3% in the third quarter, Holdings Channel reports. The institutional investor owned 5,573 shares of the footwear maker’s stock after buying an additional 862 shares during the period. NIKE accounts for 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 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NKE. Transcendent Capital Group LLC raised its holdings in NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC increased its position in NIKE by 52.6% during the 3rd 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. Bruce G. Allen Investments LLC raised its stake 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 buying an additional 376 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of NIKE in the 2nd quarter valued at approximately $44,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of NIKE in the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NKE shares. Royal Bank of Canada cut their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and raised their price objective for the company from $67.00 to $93.00 in a research note on Friday, August 16th. JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Telsey Advisory Group dropped their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, Guggenheim decreased their price target on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.48.

NIKE Price Performance

Shares of NYSE:NKE opened at $76.66 on Friday. The business has a fifty day simple moving average of $80.89 and a 200-day simple moving average of $83.20. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a market cap of $114.94 billion, a P/E ratio of 21.97, a P/E/G ratio of 1.86 and a beta of 1.03. 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 posted 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. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 EPS. Equities research analysts forecast that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is currently 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.