Rafferty Asset Management LLC cut its stake in Dicks Sporting Goods Inc (NYSE:DKS) by 93.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,028 shares of the sporting goods retailer’s stock after selling 118,703 shares during the quarter. Rafferty Asset Management LLC’s holdings in Dicks Sporting Goods were worth $285,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. increased its stake in shares of Dicks Sporting Goods by 1,041.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,220 shares of the sporting goods retailer’s stock worth $114,000 after acquiring an additional 2,938 shares in the last quarter. Global X Management Co LLC increased its stake in shares of Dicks Sporting Goods by 55.1% in the 2nd quarter. Global X Management Co LLC now owns 5,310 shares of the sporting goods retailer’s stock worth $187,000 after acquiring an additional 1,886 shares in the last quarter. Highlander Capital Management LLC bought a new position in shares of Dicks Sporting Goods in the 2nd quarter worth about $194,000. Bridgewater Associates LP bought a new position in shares of Dicks Sporting Goods in the 2nd quarter worth about $201,000. Finally, MML Investors Services LLC bought a new position in shares of Dicks Sporting Goods in the 3rd quarter worth about $217,000. Institutional investors and hedge funds own 78.56% of the company’s stock.
Shares of NYSE DKS opened at $36.34 on Thursday. The company has a current ratio of 1.61, a quick ratio of 0.19 and a debt-to-equity ratio of 0.24. The stock has a market cap of $3.67 billion, a PE ratio of 12.07, a P/E/G ratio of 1.81 and a beta of 0.33. Dicks Sporting Goods Inc has a 52-week low of $28.73 and a 52-week high of $39.75.
Dicks Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Wednesday, November 28th. The sporting goods retailer reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.13. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.88 billion. Dicks Sporting Goods had a net margin of 3.87% and a return on equity of 18.10%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 EPS. On average, equities research analysts forecast that Dicks Sporting Goods Inc will post 3.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th 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 2.48%. The ex-dividend date of this dividend is Thursday, December 13th. Dicks Sporting Goods’s payout ratio is presently 29.90%.
A number of research firms have weighed in on DKS. JPMorgan Chase & Co. reduced their price objective on shares of Dicks Sporting Goods to $46.00 in a research note on Sunday. TheStreet upgraded shares of Dicks Sporting Goods from a “c+” rating to a “b-” rating in a research note on Wednesday, November 28th. Wells Fargo & Co reduced their price objective on shares of Dicks Sporting Goods from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, August 30th. Citigroup reduced their price objective on shares of Dicks Sporting Goods from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, August 30th. Finally, Morgan Stanley raised their price objective on shares of Dicks Sporting Goods from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, October 11th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company. Dicks Sporting Goods presently has a consensus rating of “Hold” and an average price target of $39.50.
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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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