Peapack Gladstone Financial Corp Sells 12,985 Shares of NIKE, Inc. $NKE

Peapack Gladstone Financial Corp decreased its holdings in NIKE, Inc. (NYSE:NKE) by 25.8% in the 4th quarter, HoldingsChannel reports. The firm owned 37,344 shares of the footwear maker’s stock after selling 12,985 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in NIKE were worth $2,380,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in NIKE by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker’s stock valued at $7,453,658,000 after purchasing an additional 1,702,342 shares during the last quarter. Capital World Investors increased its stake in shares of NIKE by 0.7% in the 3rd quarter. Capital World Investors now owns 42,239,013 shares of the footwear maker’s stock valued at $2,945,326,000 after buying an additional 286,615 shares during the period. Geode Capital Management LLC increased its stake in shares of NIKE by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker’s stock valued at $1,677,251,000 after buying an additional 233,925 shares during the period. Norges Bank acquired a new stake in shares of NIKE in the 4th quarter valued at $829,956,000. Finally, Flossbach Von Storch SE increased its stake in shares of NIKE by 29.3% in the 4th quarter. Flossbach Von Storch SE now owns 12,753,317 shares of the footwear maker’s stock valued at $812,514,000 after buying an additional 2,886,856 shares during the period. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In related news, Director Timothy D. Cook acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was acquired at an average cost of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the purchase, the director directly owned 130,480 shares in the company, valued at approximately $5,536,266.40. This trade represents a 23.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Holmes Swan acquired 11,781 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were bought at an average cost of $42.44 per share, with a total value of $499,985.64. Following the completion of the purchase, the director owned 55,074 shares of the company’s stock, valued at $2,337,340.56. This trade represents a 27.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 64,441 shares of company stock valued at $2,734,204 in the last three months. 0.80% of the stock is currently owned by company insiders.

NIKE Stock Down 4.8%

Shares of NIKE stock opened at $43.72 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 12 month low of $41.35 and a 12 month high of $80.17. The business has a fifty day simple moving average of $45.60 and a 200 day simple moving average of $56.61. The stock has a market cap of $64.75 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 1.51 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.8%. NIKE’s payout ratio is 108.61%.

Analyst Upgrades and Downgrades

NKE has been the subject of several research reports. DZ Bank reissued a “buy” rating on shares of NIKE in a research note on Tuesday, April 21st. Bank of America reissued a “neutral” rating and issued a $55.00 target price (down from $73.00) on shares of NIKE in a research note on Wednesday, April 1st. Wells Fargo & Company set a $45.00 target price on NIKE and gave the company an “equal weight” rating in a research note on Friday, May 8th. CICC Research cut NIKE from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $69.00 to $58.00 in a research note on Monday, April 6th. Finally, Piper Sandler reissued a “neutral” rating and issued a $50.00 target price (down from $60.00) on shares of NIKE in a research note on Friday, April 10th. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $62.04.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).