Park National Corp OH Purchases 43,322 Shares of Nike Inc. (NKE)
Park National Corp OH boosted its stake in shares of Nike Inc. (NYSE:NKE) by 15.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 329,602 shares of the footwear maker’s stock after buying an additional 43,322 shares during the period. Nike makes up approximately 1.1% of Park National Corp OH’s holdings, making the stock its 29th largest position. Park National Corp OH’s holdings in Nike were worth $17,354,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of NKE. SevenBridge Financial Group LLC bought a new stake in shares of Nike during the second quarter valued at about $100,000. Cribstone Capital Management LLC bought a new stake in shares of Nike during the second quarter valued at about $106,000. Gierl Augustine Investment Management Inc boosted its stake in shares of Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock valued at $111,000 after buying an additional 6 shares during the last quarter. CWM LLC boosted its position in Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock worth $123,000 after buying an additional 7 shares in the last quarter. Finally, First Personal Financial Services acquired a new position in Nike during the second quarter worth $125,000. 62.58% of the stock is owned by hedge funds and other institutional investors.
Nike Inc. (NYSE:NKE) traded down 0.95% during midday trading on Friday, reaching $51.10. The company’s stock had a trading volume of 7,461,602 shares. Nike Inc. has a 12 month low of $49.01 and a 12 month high of $68.19. The stock’s 50-day moving average price is $51.76 and its 200-day moving average price is $55.22. The firm has a market capitalization of $85.10 billion, a price-to-earnings ratio of 23.06 and a beta of 0.48.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.17. The firm earned $9.06 billion during the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.34 earnings per share. Analysts predict that Nike Inc. will post $2.37 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 5th will be paid a dividend of $0.18 per share. This is a positive change from Nike’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Thursday, December 1st. Nike’s dividend payout ratio (DPR) is presently 28.83%.
A number of equities analysts recently commented on NKE shares. Vetr upgraded Nike from a “buy” rating to a “strong-buy” rating and set a $57.56 target price for the company in a report on Tuesday, October 18th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $75.00 price target on shares of Nike in a research report on Sunday, September 25th. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating in a research report on Friday, September 16th. Morgan Stanley reissued a “hold” rating and set a $60.00 target price on shares of Nike in a research report on Wednesday, September 21st. Finally, Canaccord Genuity cut their target price on Nike from $52.00 to $51.00 and set a “hold” rating on the stock in a research report on Thursday, October 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $63.43.
In other news, Director John C. Lechleiter purchased 1,000 shares of the firm’s stock in a transaction on Friday, September 30th. The stock was purchased at an average cost of $52.72 per share, with a total value of $52,720.00. Following the purchase, the director now owns 27,560 shares in the company, valued at approximately $1,452,963.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 150,000 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $49.78, for a total value of $7,467,000.00. Following the transaction, the chairman now directly owns 1,985,225 shares of the company’s stock, valued at $98,824,500.50. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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