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

Key Points

• Park National Corp OH increased its NIKE stake by 12.0% in the first quarter, now holding 482,886 shares valued at about $25.5 million.
• Several other institutional investors also boosted or initiated positions in NIKE, and institutions now own 64.25% of the company’s shares.
• NIKE has seen a mix of bullish signals, including insider खरीदारी from its CEO and a director, analyst ratings that still lean to Hold overall, and a recent quarterly earnings beat with EPS of $0.35 versus estimates of $0.29.

Park National Corp OH raised its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 482,886 shares of the footwear maker's stock after purchasing 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.

A number of other institutional investors and hedge funds also recently bought and sold shares of NKE. Westerkirk Capital Inc. grew its stake in shares of NIKE by 52.4% during the fourth quarter. Westerkirk Capital Inc. now owns 131,220 shares of the footwear maker's stock valued at $8,360,000 after purchasing an additional 45,100 shares during the last quarter. Mizuho Markets Cayman LP acquired a new stake in shares of NIKE in the third quarter valued at approximately $34,200,000. OMERS ADMINISTRATION Corp raised its position in NIKE by 77.9% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 2,526,179 shares of the footwear maker's stock worth $160,943,000 after purchasing an additional 1,106,499 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in NIKE in the 4th quarter worth approximately $43,188,000. Finally, Strive Asset Management LLC bought a new position in NIKE in the 3rd quarter worth approximately $1,743,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Key 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?

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. bought 4,000 shares of NIKE stock in a transaction on Thursday, April 9th. The shares were purchased at an average price of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the acquisition, the director owned 41,022 shares in the company, valued at approximately $1,777,893.48. This represents a 10.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Elliott Hill bought 23,660 shares of the firm's stock in a transaction dated Monday, April 13th. The shares were bought at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the completion of the transaction, the chief executive officer directly owned 265,247 shares in the company, valued at approximately $11,211,990.69. This trade represents a 9.79% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 64,441 shares of company stock valued at $2,734,204 over the last quarter. 0.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NKE has been the topic of a number of recent research reports. UBS Group set a $50.00 price objective on NIKE and gave the company a "neutral" rating in a research report on Wednesday, June 10th. DZ Bank restated a "buy" rating on shares of NIKE in a research report on Tuesday, April 21st. Berenberg Bank restated a "neutral" rating on shares of NIKE in a research report on Wednesday, May 6th. Truist Financial cut their price target on NIKE from $69.00 to $57.00 and set a "buy" rating on the stock in a research note on Wednesday, April 1st. Finally, Williams Trading decreased their price target on NIKE from $80.00 to $57.00 and set a "buy" rating on the stock in a report on Wednesday, April 1st. Fifteen research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $60.89.

NIKE Trading Up 0.0%

Shares of NYSE NKE opened at $45.22 on Friday. NIKE, Inc. has a fifty-two week low of $41.35 and a fifty-two week high of $80.17. The firm 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. 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 company's 50 day simple moving average is $44.39 and its 200 day simple moving average is $54.79.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. The firm had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The business's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 EPS. On average, analysts predict that NIKE, Inc. will post 1.49 EPS for the current year.

NIKE Dividend Announcement

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

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).

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