First Horizon Advisors Inc. Sells 510 Shares of NIKE, Inc. (NYSE:NKE)

First Horizon Advisors Inc. lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 2.6% in the fourth quarter, HoldingsChannel reports. The fund owned 18,915 shares of the footwear maker’s stock after selling 510 shares during the period. First Horizon Advisors Inc.’s holdings in NIKE were worth $1,431,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Range Financial Group LLC acquired a new position in NIKE during the fourth quarter worth $642,000. Cacti Asset Management LLC bought a new stake in NIKE during the 4th quarter worth about $9,987,000. Capricorn Fund Managers Ltd acquired a new position in shares of NIKE during the 4th quarter worth about $5,384,000. Klein Pavlis & Peasley Financial Inc. grew its holdings in shares of NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after acquiring an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC increased its position in shares of NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after acquiring an additional 8,504 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of several recent research reports. Royal Bank of Canada reduced their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Evercore ISI cut their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. UBS Group reissued a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Morgan Stanley dropped their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, Robert W. Baird decreased their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

NIKE Price Performance

Shares of NIKE stock opened at $76.50 on Monday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $113.15 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $106.62. The company has a 50-day simple moving average of $74.31 and a two-hundred day simple moving average of $78.16.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. Analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.09%. NIKE’s dividend payout ratio is presently 49.38%.

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.