Park National Corp OH Sells 3,493 Shares of NIKE, Inc. (NYSE:NKE)

Park National Corp OH decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.1% in the 4th quarter, Holdings Channel reports. The fund owned 53,801 shares of the footwear maker’s stock after selling 3,493 shares during the quarter. Park National Corp OH’s holdings in NIKE were worth $4,071,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE in the 3rd quarter valued at about $30,000. VitalStone Financial LLC boosted its position in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Dunhill Financial LLC grew its position in shares of NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares in the last quarter. Riverview Trust Co bought a new position in NIKE during the 3rd quarter worth $52,000. Finally, Catalyst Capital Advisors LLC acquired a new position in NIKE in the third quarter valued at about $54,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

NYSE NKE opened at $72.15 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $107.43. The business has a 50 day simple moving average of $76.65 and a two-hundred day simple moving average of $78.75. The stock has a market capitalization of $108.18 billion, a PE ratio of 20.67, a P/E/G ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. On average, research analysts predict that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.22%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio is currently 49.38%.

Analyst Ratings Changes

Several brokerages have commented on NKE. Stifel Nicolaus lowered their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Truist Financial dropped their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada reduced their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Finally, Morgan Stanley dropped their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.58.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

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.