SRS Capital Advisors Inc. Cuts Holdings in NIKE, Inc. (NYSE:NKE)

SRS Capital Advisors Inc. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,970 shares of the footwear maker’s stock after selling 137 shares during the quarter. SRS Capital Advisors Inc.’s holdings in NIKE were worth $431,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Los Angeles Capital Management LLC raised its position in NIKE by 147.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,067,609 shares of the footwear maker’s stock worth $115,910,000 after acquiring an additional 636,408 shares during the period. Natixis Advisors L.P. raised its position in shares of NIKE by 47.7% during the 4th quarter. Natixis Advisors L.P. now owns 762,261 shares of the footwear maker’s stock worth $82,758,000 after purchasing an additional 246,243 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in NIKE by 1.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 432,198 shares of the footwear maker’s stock valued at $46,924,000 after buying an additional 7,894 shares in the last quarter. West Family Investments Inc. boosted its holdings in NIKE by 4.4% in the 4th quarter. West Family Investments Inc. now owns 2,816 shares of the footwear maker’s stock worth $306,000 after buying an additional 118 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in NIKE by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock worth $1,073,515,000 after buying an additional 219,091 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Williams Trading reiterated a “sell” rating and set a $85.00 price target (down from $92.00) on shares of NIKE in a research report on Monday, March 18th. Evercore ISI reduced their target price on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. HSBC lowered their price target on shares of NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a research report on Monday, January 22nd. Robert W. Baird cut their price objective on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Finally, Wells Fargo & Company decreased their target price on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Stock Performance

NKE traded down $0.26 on Friday, hitting $92.15. 5,736,030 shares of the company traded hands, compared to its average volume of 9,280,863. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $127.69. The company has a 50 day moving average of $96.00 and a 200-day moving average of $103.11. 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 stock has a market capitalization of $139.09 billion, a PE ratio of 27.10, a PEG ratio of 1.74 and a beta of 1.07.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. The business had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Sell-side analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.61%. NIKE’s dividend payout ratio is currently 43.53%.

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.