Miracle Mile Advisors LLC Decreases Holdings in NIKE, Inc. (NYSE:NKE)

Miracle Mile Advisors LLC lowered its stake in NIKE, Inc. (NYSE:NKE) by 59.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,917 shares of the footwear maker’s stock after selling 41,947 shares during the period. Miracle Mile Advisors LLC’s holdings in NIKE were worth $2,188,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P boosted its holdings in shares of NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after purchasing an additional 6,507,856 shares during the period. State Street Corp lifted its position in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after buying an additional 1,862,021 shares during the last quarter. Holocene Advisors LP purchased a new position in NIKE during the third quarter worth $148,635,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in NIKE during the third quarter valued at $144,927,000. Finally, Renaissance Technologies LLC raised its stake in shares of NIKE by 351.7% in the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after acquiring an additional 1,550,611 shares during the period. 64.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on NKE shares. Royal Bank of Canada dropped their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Morgan Stanley cut their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Robert W. Baird decreased their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. UBS Group reaffirmed a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a research report on Thursday, December 26th. Finally, Sanford C. Bernstein decreased their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Price Performance

NKE opened at $72.16 on Tuesday. The firm has a market capitalization of $106.73 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The business’s 50-day moving average is $76.19 and its two-hundred day moving average is $78.09. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $107.43. 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 (NYSE:NKE) last posted its quarterly earnings data 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 firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 EPS. Research analysts anticipate that NIKE, Inc. will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.22%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s payout ratio is 49.38%.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.

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.