Park National Corp OH raised its position in shares of Nike Inc (NYSE:NKE) by 13.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 508,590 shares of the footwear maker’s stock after buying an additional 60,809 shares during the period. Nike accounts for 1.7% of Park National Corp OH’s investment portfolio, making the stock its 17th largest position. Park National Corp OH’s holdings in Nike were worth $28,344,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lau Associates LLC raised its position in Nike by 0.7% in the first quarter. Lau Associates LLC now owns 24,275 shares of the footwear maker’s stock valued at $1,353,000 after buying an additional 175 shares during the last quarter. Pensionfund DSM Netherlands raised its position in Nike by 1.9% in the first quarter. Pensionfund DSM Netherlands now owns 83,800 shares of the footwear maker’s stock valued at $4,670,000 after buying an additional 1,600 shares during the last quarter. Pensionfund Sabic raised its position in Nike by 6.6% in the first quarter. Pensionfund Sabic now owns 42,100 shares of the footwear maker’s stock valued at $2,346,000 after buying an additional 2,600 shares during the last quarter. Macquarie Group Ltd. raised its position in Nike by 41.0% in the fourth quarter. Macquarie Group Ltd. now owns 209,770 shares of the footwear maker’s stock valued at $10,663,000 after buying an additional 61,015 shares during the last quarter. Finally, Searle & CO. purchased a new position in Nike during the fourth quarter valued at about $899,000. Hedge funds and other institutional investors own 62.23% of the company’s stock.
Nike Inc (NYSE:NKE) traded down 0.98% on Wednesday, hitting $54.53. The stock had a trading volume of 9,474,727 shares. The company has a 50 day moving average price of $55.93 and a 200-day moving average price of $53.68. Nike Inc has a 52-week low of $49.01 and a 52-week high of $60.33. The company has a market cap of $90.02 billion, a price-to-earnings ratio of 22.75 and a beta of 0.44.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, March 21st. The footwear maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.15. Nike had a return on equity of 31.70% and a net margin of 11.60%. The business earned $8.43 billion during the quarter, compared to analysts’ expectations of $8.47 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts predict that Nike Inc will post $2.40 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Monday, March 6th were issued a $0.18 dividend. The ex-dividend date was Thursday, March 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.32%. Nike’s dividend payout ratio is presently 31.72%.
Several brokerages have recently commented on NKE. Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 price objective (down previously from $68.00) on shares of Nike in a research report on Tuesday, March 21st. Goldman Sachs Group Inc lifted their price target on shares of Nike from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, March 22nd. Wedbush reissued a “neutral” rating and issued a $52.00 price target on shares of Nike in a research report on Wednesday, March 22nd. Deutsche Bank AG reduced their price target on shares of Nike from $66.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, March 22nd. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $75.00 price target on shares of Nike in a research report on Wednesday, March 22nd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $60.66.
In other news, Chairman Mark G. Parker sold 100,000 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $55.50, for a total transaction of $5,550,000.00. Following the completion of the transaction, the chairman now directly owns 1,966,235 shares in the company, valued at $109,126,042.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John C. Lechleiter purchased 1,000 shares of the stock in a transaction dated Friday, March 24th. The shares were purchased at an average price of $56.30 per share, with a total value of $56,300.00. Following the completion of the transaction, the director now owns 28,660 shares of the company’s stock, valued at $1,613,558. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 379,000 shares of company stock valued at $21,213,800. Insiders own 3.90% of the company’s stock.
About Nike
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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