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

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Garrison Point Advisors LLC lifted its stake in shares of NIKE by 1.9% in the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after buying an additional 126 shares in the last quarter. Stephens Consulting LLC lifted its position in NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after acquiring an additional 128 shares in the last quarter. PSI Advisors LLC boosted its stake in NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after purchasing an additional 130 shares during the last quarter. Chapin Davis Inc. increased its holdings in shares of NIKE by 1.2% in the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after purchasing an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC raised its stake in shares of NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after purchasing an additional 133 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

NYSE:NKE opened at $72.16 on Tuesday. The stock has a 50-day moving average price of $76.19 and a 200 day moving average price of $78.09. The stock has a market capitalization of $106.73 billion, a P/E ratio of 20.68, a P/E/G ratio of 1.89 and a beta of 1.02. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $107.43. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period last year, the firm posted $1.03 EPS. The company’s revenue was down 7.7% on a year-over-year basis. Equities research analysts forecast that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

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

Analysts Set New Price Targets

NKE has been the subject of several research analyst reports. UBS Group reiterated a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a report on Thursday, December 26th. Royal Bank of Canada reduced 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. Robert W. Baird lowered their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Barclays decreased their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.96.

Insider Activity

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

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.