First Horizon Advisors Inc. Raises Position in NIKE, Inc. $NKE

First Horizon Advisors Inc. boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,256 shares of the footwear maker’s stock after buying an additional 1,014 shares during the period. First Horizon Advisors Inc.’s holdings in NIKE were worth $1,297,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after buying an additional 160,980 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of NIKE by 9.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,358,099 shares of the footwear maker’s stock worth $86,212,000 after acquiring an additional 113,900 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of NIKE by 5.4% during the 1st quarter. TD Private Client Wealth LLC now owns 7,188 shares of the footwear maker’s stock worth $456,000 after acquiring an additional 367 shares during the last quarter. Parr Mcknight Wealth Management Group LLC grew its position in NIKE by 13.4% in the first quarter. Parr Mcknight Wealth Management Group LLC now owns 36,947 shares of the footwear maker’s stock worth $2,345,000 after acquiring an additional 4,362 shares in the last quarter. Finally, Peoples Financial Services CORP. increased its stake in NIKE by 3.5% in the first quarter. Peoples Financial Services CORP. now owns 11,812 shares of the footwear maker’s stock valued at $750,000 after acquiring an additional 395 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $61.89 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. NIKE, Inc. has a one year low of $52.28 and a one year high of $82.44. The business’s 50 day simple moving average is $69.97 and its two-hundred day simple moving average is $68.41. The stock has a market capitalization of $91.48 billion, a P/E ratio of 31.74, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the prior year, the firm posted $0.70 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. The Goldman Sachs Group set a $85.00 price target on NIKE and gave the stock a “buy” rating in a research note on Thursday, September 25th. Sanford C. Bernstein reissued a “buy” rating and set a $90.00 price objective on shares of NIKE in a report on Monday, October 13th. Citigroup raised NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. KeyCorp set a $90.00 price target on shares of NIKE and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Finally, TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $85.00 in a report on Wednesday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.21.

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.