First Horizon Corp Acquires Shares of 14,019 NIKE, Inc. $NKE

First Horizon Corp purchased a new position in NIKE, Inc. (NYSE:NKE) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 14,019 shares of the footwear maker’s stock, valued at approximately $978,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Brighton Jones LLC increased its position in shares of NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares in the last quarter. Caxton Associates LLP acquired a new stake in NIKE in the 1st quarter valued at approximately $311,000. Belpointe Asset Management LLC lifted its position in shares of NIKE by 43.9% in the first quarter. Belpointe Asset Management LLC now owns 6,024 shares of the footwear maker’s stock worth $382,000 after purchasing an additional 1,838 shares in the last quarter. Mirabaud & Cie SA boosted its holdings in NIKE by 12.5% during the second quarter. Mirabaud & Cie SA now owns 13,480 shares of the footwear maker’s stock worth $958,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Legacy Private Trust Co. bought a new position in NIKE in the second quarter valued at $202,000. 64.25% of the stock is owned by institutional investors.

NIKE Trading Down 0.5%

Shares of NYSE:NKE opened at $65.61 on Tuesday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The business has a 50 day moving average of $63.51 and a 200-day moving average of $69.59. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50. The stock has a market cap of $97.12 billion, a PE ratio of 38.59, a P/E/G ratio of 2.84 and a beta of 1.28.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.16. The business had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.19 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm posted $0.78 EPS. As a group, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, December 1st. This is a boost from NIKE’s previous quarterly dividend of $0.40. NIKE’s dividend payout ratio (DPR) is currently 96.47%.

Insider Activity

In related news, Director Robert Holmes Swan purchased 8,691 shares of NIKE stock in a transaction that occurred on Monday, December 22nd. The shares were acquired at an average price of $57.54 per share, with a total value of $500,080.14. Following the completion of the transaction, the director directly owned 43,293 shares of the company’s stock, valued at $2,491,079.22. This represents a 25.12% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Elliott Hill acquired 16,388 shares of the company’s stock in a transaction on Monday, December 29th. The stock was bought at an average cost of $61.10 per share, with a total value of $1,001,306.80. Following the completion of the acquisition, the chief executive officer directly owned 241,587 shares in the company, valued at approximately $14,760,965.70. This represents a 7.28% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 91,229 shares of company stock worth $5,452,640. Insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of several analyst reports. The Goldman Sachs Group set a $77.00 price target on shares of NIKE in a research report on Friday, December 19th. Needham & Company LLC lowered NIKE from a “buy” rating to a “hold” rating in a report on Thursday. Piper Sandler set a $75.00 price target on NIKE and gave the company an “overweight” rating in a research report on Friday, December 19th. Telsey Advisory Group lowered their price target on NIKE from $75.00 to $72.00 and set a “market perform” rating on the stock in a research report on Friday, December 19th. Finally, Citigroup reiterated a “neutral” rating and set a $65.00 price objective (down previously from $70.00) on shares of NIKE in a research note on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $75.16.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).