Park National Corp OH Has $25.51 Million Stock Position in NIKE, Inc. $NKE

Park National Corp OH increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 12.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 482,886 shares of the footwear maker’s stock after buying an additional 51,831 shares during the quarter. Park National Corp OH’s holdings in NIKE were worth $25,506,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Cornerstone Financial Management LLC bought a new stake in shares of NIKE in the fourth quarter worth about $26,000. Sankala Group LLC acquired a new stake in shares of NIKE during the fourth quarter worth about $26,000. J.Safra Asset Management Corp acquired a new stake in shares of NIKE during the fourth quarter worth about $29,000. Kemnay Advisory Services Inc. bought a new position in shares of NIKE during the 4th quarter valued at about $30,000. Finally, Litman Gregory Wealth Management LLC bought a new position in shares of NIKE during the 4th quarter valued at about $32,000. 64.25% of the stock is currently owned by institutional investors.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Barclays reiterated a Buy rating on NIKE, which can support sentiment by signaling that analysts still see upside in the stock. Barclays Remains a Buy on Nike (NKE)
• Positive Sentiment: NIKE outperformed the broader market in the latest trading session, suggesting traders may be positioning ahead of upcoming earnings and looking for signs that the turnaround is taking hold. Nike (NKE) Outperforms Broader Market: What You Need to Know
• Positive Sentiment: Coverage highlighted stronger traction in one major market and signs that NIKE’s recovery is gaining momentum, which could improve confidence in the company’s earnings outlook. Headed Into Earnings, Nike Stock Is Trading Lower Than It Was a Decade Ago. But Is the Turnaround Finally Working?

NIKE Stock Up 0.0%

NKE stock opened at $45.22 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. The stock has a market capitalization of $66.97 billion, a P/E ratio of 29.95, a P/E/G ratio of 1.96 and a beta of 1.12. NIKE, Inc. has a fifty-two week low of $41.35 and a fifty-two week high of $80.17. The business has a 50-day moving average of $44.39 and a 200-day moving average of $54.79.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter last year, the firm earned $0.54 EPS. NIKE’s revenue for the quarter was up .1% compared to the same quarter last year. On average, sell-side analysts anticipate that NIKE, Inc. will post 1.49 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio (DPR) is currently 108.61%.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 11,781 shares of the stock in a transaction dated Tuesday, April 7th. The shares were bought at an average cost of $42.44 per share, for a total transaction of $499,985.64. Following the completion of the acquisition, the director directly owned 55,074 shares of the company’s stock, valued at approximately $2,337,340.56. This trade represents a 27.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy D. Cook acquired 25,000 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was acquired at an average cost of $42.43 per share, for a total transaction of $1,060,750.00. Following the transaction, the director owned 130,480 shares of the company’s stock, valued at $5,536,266.40. This represents a 23.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NKE has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on NIKE from $54.00 to $51.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. Robert W. Baird cut their price target on shares of NIKE from $85.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Barclays reduced their price target on shares of NIKE from $73.00 to $67.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. China Renaissance lowered their price objective on shares of NIKE from $74.60 to $50.30 and set a “hold” rating for the company in a research report on Thursday, April 2nd. Finally, Truist Financial lowered their price objective on shares of NIKE from $69.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Fifteen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $60.89.

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).