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

Miracle Mile Advisors LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 59.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NKE. Horizon Wealth Management LLC boosted its position in NIKE by 22.3% in the fourth quarter. Horizon Wealth Management LLC now owns 2,974 shares of the footwear maker's stock worth $225,000 after purchasing an additional 543 shares during the last quarter. Elevated Capital Advisors LLC boosted its holdings in shares of NIKE by 6.5% in the fourth quarter. Elevated Capital Advisors LLC now owns 2,722 shares of the footwear maker's stock worth $206,000 after buying an additional 167 shares during the last quarter. Persium Advisors LLC bought a new stake in NIKE during the fourth quarter valued at approximately $393,000. Wedmont Private Capital increased its holdings in NIKE by 8.8% during the fourth quarter. Wedmont Private Capital now owns 4,927 shares of the footwear maker's stock valued at $351,000 after buying an additional 398 shares during the last quarter. Finally, Fragasso Financial Advisors Inc raised its position in NIKE by 9.6% in the fourth quarter. Fragasso Financial Advisors Inc now owns 3,293 shares of the footwear maker's stock worth $249,000 after acquiring an additional 289 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the company's stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now directly owns 34,403 shares of the company's stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NKE shares. Barclays cut their price target on NIKE from $79.00 to $70.00 and set an "equal weight" rating for the company in a report on Friday, December 20th. Royal Bank of Canada reduced their target price on shares of NIKE from $82.00 to $80.00 and set a "sector perform" rating for the company in a report on Thursday, November 7th. Robert W. Baird lowered their price target on shares of NIKE from $110.00 to $105.00 and set an "outperform" rating on the stock in a report on Monday, December 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $84.00 price target on shares of NIKE in a research report on Friday, December 20th. Finally, Truist Financial decreased their price objective on shares of NIKE from $97.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, December 20th. Fourteen equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $89.96.

NIKE Stock Performance

Shares of NIKE stock traded down $0.99 on Tuesday, reaching $71.09. 16,722,631 shares of the stock were exchanged, compared to its average volume of 13,151,564. The business has a 50 day moving average price of $76.05 and a two-hundred day moving average price of $78.06. The firm has a market capitalization of $105.15 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.89 and a beta of 1.02. NIKE, Inc. has a twelve month low of $70.53 and a twelve month high of $107.43. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business's revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. Analysts anticipate that NIKE, Inc. will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This is an increase from NIKE's previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE's dividend payout ratio (DPR) is currently 49.38%.

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.