Peapack Gladstone Financial Corp Sells 5,664 Shares of NIKE, Inc. (NYSE:NKE)

Peapack Gladstone Financial Corp reduced its position in NIKE, Inc. (NYSE:NKE) by 8.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 58,495 shares of the footwear maker’s stock after selling 5,664 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in NIKE were worth $5,171,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research firms have issued reports on NKE. Royal Bank of Canada decreased their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Guggenheim cut their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. UBS Group lowered their price target on shares of NIKE from $82.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Finally, Jefferies Financial Group increased their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $94.04.

NIKE Trading Down 0.9 %

Shares of NKE stock opened at $77.25 on Friday. The company 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 fifty-two week low of $70.75 and a fifty-two week high of $123.39. The stock has a 50 day simple moving average of $78.52 and a two-hundred day simple moving average of $81.13. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

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

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. NIKE’s dividend payout ratio (DPR) is currently 45.85%.

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.