Park National Corp OH Decreases Stock Position in NIKE, Inc. $NKE

Park National Corp OH reduced its position in NIKE, Inc. (NYSE:NKE) by 14.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,735 shares of the footwear maker’s stock after selling 7,029 shares during the quarter. Park National Corp OH’s holdings in NIKE were worth $3,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Spire Wealth Management increased its position in NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after buying an additional 416 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after buying an additional 5,601 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of NIKE by 75.1% in the fourth quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker’s stock valued at $40,835,000 after purchasing an additional 231,417 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of NIKE in the first quarter valued at $25,963,000. Finally, Olstein Capital Management L.P. grew its position in shares of NIKE by 42.2% in the first quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker’s stock valued at $5,777,000 after purchasing an additional 27,000 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

NYSE:NKE opened at $73.12 on Friday. The firm has a market capitalization of $107.98 billion, a price-to-earnings ratio of 33.85, a P/E/G ratio of 2.70 and a beta of 1.24. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The stock has a fifty day moving average of $75.40 and a 200 day moving average of $67.72. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. The company’s revenue was down 11.9% compared to the same quarter last year. On average, research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.2%. NIKE’s payout ratio is 74.07%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on NKE. Citigroup lifted their price target on NIKE from $57.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, June 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $115.00 price target on shares of NIKE in a research report on Friday, August 22nd. Morgan Stanley lifted their price target on NIKE from $61.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, June 27th. JPMorgan Chase & Co. upgraded NIKE from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $64.00 to $93.00 in a research report on Monday, July 28th. Finally, Barclays lifted their price target on NIKE from $53.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.67.

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.