First Horizon Advisors Inc. Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

First Horizon Advisors Inc. lessened its holdings in NIKE, Inc. (NYSE:NKE) by 3.1% during the 3rd quarter, Holdings Channel reports. The firm owned 19,425 shares of the footwear maker’s stock after selling 616 shares during the quarter. First Horizon Advisors Inc.’s holdings in NIKE were worth $1,717,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Transcendent Capital Group LLC boosted its stake in shares of NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares during the last quarter. VitalStone Financial LLC lifted its stake in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the period. Bruce G. Allen Investments LLC grew its stake in NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares during the period. Triad Wealth Partners LLC purchased a new position in NIKE during the second quarter worth about $44,000. Finally, Riverview Trust Co purchased a new stake in NIKE in the 3rd quarter valued at about $52,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NKE shares. Royal Bank of Canada cut their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and increased their target price for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Telsey Advisory Group dropped their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Morgan Stanley increased their target price on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, TD Cowen lowered their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $96.30.

NIKE Price Performance

NKE opened at $73.33 on Thursday. The firm has a market capitalization of $109.95 billion, a P/E ratio of 21.01, a PEG ratio of 1.80 and a beta of 1.03. The stock has a fifty day moving average of $80.61 and a 200-day moving average of $82.83. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the business earned $0.94 EPS. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. Equities analysts forecast that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. NIKE’s payout ratio is presently 42.41%.

About NIKE

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.