USA Financial Portformulas Corp purchased a new stake in Dick’s Sporting Goods Inc (NYSE:DKS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 16,979 shares of the sporting goods retailer’s stock, valued at approximately $676,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Dick’s Sporting Goods by 2,879.3% during the 1st quarter. BlackRock Inc. now owns 8,515,919 shares of the sporting goods retailer’s stock worth $414,382,000 after buying an additional 8,230,087 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Dick’s Sporting Goods by 263.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 5,634,221 shares of the sporting goods retailer’s stock worth $224,411,000 after purchasing an additional 4,085,414 shares during the last quarter. Northern Trust Corp grew its position in shares of Dick’s Sporting Goods by 54.6% during the 2nd quarter. Northern Trust Corp now owns 3,791,180 shares of the sporting goods retailer’s stock valued at $151,003,000 after purchasing an additional 1,339,379 shares in the last quarter. Manning & Napier Advisors LLC grew its position in shares of Dick’s Sporting Goods by 1,173.1% during the 2nd quarter. Manning & Napier Advisors LLC now owns 1,043,955 shares of the sporting goods retailer’s stock valued at $41,580,000 after purchasing an additional 961,955 shares in the last quarter. Finally, Samlyn Capital LLC grew its position in shares of Dick’s Sporting Goods by 856.5% during the 2nd quarter. Samlyn Capital LLC now owns 672,321 shares of the sporting goods retailer’s stock valued at $26,779,000 after purchasing an additional 602,029 shares in the last quarter. 77.02% of the stock is currently owned by institutional investors and hedge funds.
In other Dick’s Sporting Goods news, Director William J. Colombo purchased 20,000 shares of the stock in a transaction on Tuesday, August 22nd. The stock was bought at an average price of $26.25 per share, for a total transaction of $525,000.00. Following the acquisition, the director now directly owns 323,224 shares of the company’s stock, valued at $8,484,630. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 23.09% of the stock is owned by insiders.
A number of research firms have recently commented on DKS. Credit Suisse Group restated a “hold” rating and set a $55.00 price target on shares of Dick’s Sporting Goods in a research report on Thursday, June 29th. Cleveland Research downgraded shares of Dick’s Sporting Goods from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Canaccord Genuity set a $54.00 price objective on shares of Dick’s Sporting Goods and gave the stock a “buy” rating in a report on Saturday, July 1st. BMO Capital Markets set a $62.00 price objective on shares of Dick’s Sporting Goods and gave the stock a “buy” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research raised shares of Dick’s Sporting Goods from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Three equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $37.73.
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Dick’s Sporting Goods Inc (NYSE DKS) traded down 2.39% during trading on Friday, reaching $26.13. 786,967 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $26.81 and a 200 day moving average price of $36.51. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 9.38 and a beta of 0.51. Dick’s Sporting Goods Inc has a 52 week low of $24.52 and a 52 week high of $62.88.
Dick’s Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Tuesday, August 15th. The sporting goods retailer reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.04). The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Dick’s Sporting Goods had a return on equity of 19.09% and a net margin of 3.74%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $0.82 EPS. Equities research analysts forecast that Dick’s Sporting Goods Inc will post $2.90 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.54%. The ex-dividend date was Thursday, September 7th. Dick’s Sporting Goods’s dividend payout ratio (DPR) is 24.29%.
Dick’s Sporting Goods Company Profile
Dick’s Sporting Goods, Inc is an omni-channel sporting goods retailer offering an assortment of sports equipment, apparel, footwear and accessories in its specialty retail stores primarily in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, and Dick’s Team Sports HQ, an all-in-one youth sports digital platform offering free league management services, mobile applications for scheduling, communications and live scorekeeping, custom uniforms and FanWear and access to donations and sponsorships.
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