NIKE, Inc. (NYSE:NKE) Stock Position Lowered by Park National Corp OH

Park National Corp OH trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 9.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 57,294 shares of the footwear maker’s stock after selling 6,230 shares during the quarter. Park National Corp OH’s holdings in NIKE were worth $5,065,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after buying an additional 7,996,434 shares in the last quarter. Longview Partners Guernsey LTD acquired a new stake in NIKE during the 1st quarter worth about $533,533,000. Capital World Investors boosted its position in NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares during the period. Jennison Associates LLC grew its stake in NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after acquiring an additional 2,775,510 shares in the last quarter. Finally, PineStone Asset Management Inc. increased its holdings in shares of NIKE by 138.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after purchasing an additional 1,576,049 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

NIKE Price Performance

NIKE stock opened at $83.10 on Thursday. The business has a 50 day simple moving average of $80.50 and a 200 day simple moving average of $86.39. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a market capitalization of $125.43 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period last year, the firm posted $0.94 EPS. On average, sell-side analysts forecast that NIKE, Inc. will post 3.04 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.78%. NIKE’s payout ratio is 39.68%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NKE. Wedbush lowered their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. JPMorgan Chase & Co. lowered their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday. Morgan Stanley increased their price objective on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Wells Fargo & Company boosted their target price on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Finally, Truist Financial cut their price target on NIKE from $85.00 to $83.00 and set a “hold” rating for the company in a research note on Wednesday. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.04.

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.