Park National Corp OH Purchases 194,806 Shares of NIKE, Inc. $NKE

Park National Corp OH increased its position in shares of NIKE, Inc. (NYSE:NKE) by 455.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 237,541 shares of the footwear maker’s stock after purchasing an additional 194,806 shares during the period. Park National Corp OH’s holdings in NIKE were worth $16,564,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in NKE. Mascoma Wealth Management LLC purchased a new position in NIKE during the 2nd quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC boosted its stake in shares of NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in NIKE during the second quarter valued at approximately $31,000. Matrix Trust Co raised its stake in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after buying an additional 153 shares in the last quarter. Finally, Saudi Central Bank purchased a new stake in NIKE during the first quarter worth $30,000. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp bought 16,150 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average cost of $62.09 per share, with a total value of $1,002,753.50. Following the acquisition, the director directly owned 21,388 shares of the company’s stock, valued at approximately $1,327,980.92. This trade represents a 308.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.80% of the stock is currently owned by company insiders.

NIKE Stock Performance

NKE opened at $67.79 on Tuesday. The company has a market cap of $100.20 billion, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 2.37 and a beta of 1.28. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average price is $65.33 and its 200-day moving average price is $69.42. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. NIKE’s revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, December 1st. NIKE’s dividend payout ratio is presently 84.10%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NKE. Citigroup downgraded NIKE from a “positive” rating to a “mixed” rating in a report on Friday. DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, October 1st. UBS Group reiterated a “market perform” rating and issued a $75.00 target price on shares of NIKE in a report on Wednesday, December 10th. The Goldman Sachs Group reissued a “buy” rating and set a $89.00 price target on shares of NIKE in a research report on Monday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of NIKE in a research report on Friday, October 10th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.24.

NIKE Company 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.