NIKE, Inc. (NYSE:NKE) Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lessened its stake in NIKE, Inc. (NYSE:NKEFree Report) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,755 shares of the footwear maker’s stock after selling 977 shares during the quarter. Miracle Mile Advisors LLC’s holdings in NIKE were worth $1,168,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of NKE. Impact Partnership Wealth LLC raised its stake in NIKE by 220.7% during the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after buying an additional 181 shares in the last quarter. Planned Solutions Inc. acquired a new stake in shares of NIKE during the 4th quarter valued at approximately $29,000. Financial Freedom LLC acquired a new stake in shares of NIKE during the 4th quarter valued at approximately $29,000. Worth Asset Management LLC bought a new position in NIKE during the first quarter worth $32,000. Finally, Raleigh Capital Management Inc. boosted its holdings in NIKE by 134.2% in the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after purchasing an additional 216 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

NYSE:NKE opened at $92.52 on Tuesday. NIKE, Inc. has a 52-week low of $88.66 and a 52-week high of $128.68. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The firm has a market cap of $140.81 billion, a P/E ratio of 27.21, a PEG ratio of 1.76 and a beta of 1.09. The business’s 50-day moving average price is $101.22 and its 200 day moving average price is $103.64.

NIKE (NYSE:NKEGet Free Report) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. As a group, sell-side analysts predict that NIKE, Inc. will post 3.71 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.60%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NKE shares. Stifel Nicolaus reduced their price target on shares of NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Evercore ISI decreased their target price on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. The Goldman Sachs Group dropped their price target on NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Robert W. Baird reduced their price objective on NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Finally, Piper Sandler dropped their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $116.52.

Get Our Latest Stock Analysis on NIKE

About NIKE

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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