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

First Horizon Advisors Inc. lowered its position in NIKE, Inc. (NYSE:NKE) by 3.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,425 shares of the footwear maker’s stock after selling 616 shares during the period. First Horizon Advisors Inc.’s holdings in NIKE were worth $1,717,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Legal & General Group Plc lifted its stake in NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after buying an additional 571,544 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of NIKE by 0.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock valued at $454,151,000 after acquiring an additional 52,500 shares in the last quarter. Longview Partners Guernsey LTD acquired a new stake in shares of NIKE in the first quarter worth approximately $533,533,000. Capital World Investors increased its position in shares of NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in NIKE by 15.1% in the 3rd quarter. Van ECK Associates Corp now owns 4,885,672 shares of the footwear maker’s stock valued at $431,893,000 after purchasing an additional 641,398 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group increased their target price on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Piper Sandler reissued a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research note on Friday, September 20th. Bank of America reduced their price target on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Robert W. Baird upped their price objective on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.30.

NIKE Stock Performance

NYSE NKE opened at $73.33 on Thursday. The company has a fifty day moving average of $80.61 and a two-hundred day moving average of $82.83. 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 $123.39. The company has a market capitalization of $109.95 billion, a PE ratio of 21.01, a P/E/G ratio of 1.80 and a beta of 1.03.

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

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date 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 dividend yield of 2.18%. NIKE’s payout ratio is 42.41%.

NIKE Company 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.