Riverhead Capital Management LLC Decreases Holdings in Dicks Sporting Goods Inc (DKS)

Riverhead Capital Management LLC cut its stake in Dicks Sporting Goods Inc (NYSE:DKS) by 84.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,507 shares of the sporting goods retailer’s stock after selling 23,650 shares during the quarter. Riverhead Capital Management LLC’s holdings in Dicks Sporting Goods were worth $158,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its holdings in Dicks Sporting Goods by 812.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,469,346 shares of the sporting goods retailer’s stock worth $70,969,000 after purchasing an additional 2,198,746 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Dicks Sporting Goods by 29.6% in the 4th quarter. Renaissance Technologies LLC now owns 2,041,800 shares of the sporting goods retailer’s stock worth $58,681,000 after buying an additional 466,700 shares during the period. Letko Brosseau & Associates Inc. grew its position in shares of Dicks Sporting Goods by 22.1% in the 1st quarter. Letko Brosseau & Associates Inc. now owns 2,027,583 shares of the sporting goods retailer’s stock worth $71,067,000 after buying an additional 366,805 shares during the period. Bank of New York Mellon Corp grew its position in shares of Dicks Sporting Goods by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,669,928 shares of the sporting goods retailer’s stock worth $47,995,000 after buying an additional 4,794 shares during the period. Finally, ArrowMark Colorado Holdings LLC grew its position in shares of Dicks Sporting Goods by 54.1% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,655,065 shares of the sporting goods retailer’s stock worth $47,567,000 after buying an additional 581,132 shares during the period. Institutional investors and hedge funds own 70.97% of the company’s stock.

Shares of Dicks Sporting Goods opened at $30.38 on Friday, according to Marketbeat Ratings. The company has a current ratio of 1.41, a quick ratio of 0.21 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.18 billion, a PE ratio of 10.06, a P/E/G ratio of 1.07 and a beta of 0.50. Dicks Sporting Goods Inc has a 52-week low of $23.88 and a 52-week high of $42.38.

Dicks Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, March 13th. The sporting goods retailer reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.02. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.73 billion. Dicks Sporting Goods had a net margin of 3.77% and a return on equity of 16.86%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.32 EPS. equities research analysts forecast that Dicks Sporting Goods Inc will post 2.93 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 8th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Thursday, June 7th. Dicks Sporting Goods’s payout ratio is presently 29.90%.

A number of analysts have recently weighed in on DKS shares. Zacks Investment Research raised shares of Dicks Sporting Goods from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Wednesday, January 31st. Robert W. Baird reaffirmed a “hold” rating and issued a $34.00 target price on shares of Dicks Sporting Goods in a research report on Thursday, March 15th. Canaccord Genuity set a $33.00 target price on shares of Dicks Sporting Goods and gave the stock a “hold” rating in a research report on Thursday, March 15th. Credit Suisse Group set a $24.00 target price on shares of Dicks Sporting Goods and gave the stock a “hold” rating in a research report on Tuesday, March 13th. Finally, ValuEngine downgraded shares of Dicks Sporting Goods from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.22.

Dicks Sporting Goods Profile

Dick's Sporting Goods, Inc operates as a sporting goods retailer primarily in the eastern United States. It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories. The company also owns and operates Golf Galaxy, Field & Stream, and other specialty concept stores; and e-commerce Websites, as well as Dick's Team Sports HQ, a youth sports digital platform that offers free league management services, mobile apps for scheduling, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.

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Institutional Ownership by Quarter for Dicks Sporting Goods (NYSE:DKS)

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