Steel Grove Capital Advisors LLC acquired a new position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,550 shares of the sporting goods retailer’s stock, valued at approximately $349,000.
Several other institutional investors also recently modified their holdings of DKS. Vanguard Group Inc. grew its holdings in DICK’S Sporting Goods by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,380,645 shares of the sporting goods retailer’s stock worth $1,209,892,000 after purchasing an additional 166,687 shares during the period. Victory Capital Management Inc. lifted its holdings in DICK’S Sporting Goods by 4.2% during the fourth quarter. Victory Capital Management Inc. now owns 2,334,018 shares of the sporting goods retailer’s stock valued at $342,984,000 after purchasing an additional 94,745 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in DICK’S Sporting Goods by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 807,203 shares of the sporting goods retailer’s stock valued at $118,621,000 after purchasing an additional 10,091 shares during the last quarter. Norges Bank bought a new position in DICK’S Sporting Goods during the fourth quarter worth about $108,908,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of DICK’S Sporting Goods by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 402,025 shares of the sporting goods retailer’s stock worth $59,078,000 after purchasing an additional 3,414 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.
DICK’S Sporting Goods Price Performance
Shares of NYSE DKS traded up $6.21 during midday trading on Friday, reaching $208.93. The stock had a trading volume of 922,040 shares, compared to its average volume of 1,071,441. The stock has a 50-day moving average of $211.78 and a 200-day moving average of $194.39. DICK’S Sporting Goods, Inc. has a 12-month low of $100.98 and a 12-month high of $234.47. The company has a market capitalization of $17.03 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 2.29 and a beta of 1.65. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.65 and a current ratio of 1.71.
DICK’S Sporting Goods Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $1.10 dividend. The ex-dividend date was Friday, June 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.11%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 36.42%.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on DKS. Stifel Nicolaus lifted their price objective on shares of DICK’S Sporting Goods from $215.00 to $232.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Morgan Stanley boosted their price objective on DICK’S Sporting Goods from $235.00 to $245.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Robert W. Baird raised their target price on DICK’S Sporting Goods from $225.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. TD Cowen upped their price target on DICK’S Sporting Goods from $224.00 to $266.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, Oppenheimer boosted their price objective on shares of DICK’S Sporting Goods from $240.00 to $270.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DICK’S Sporting Goods currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.09.
Read Our Latest Research Report on DKS
Insider Activity at DICK’S Sporting Goods
In related news, EVP Julie Lodge-Jarrett sold 4,910 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $222.02, for a total value of $1,090,118.20. Following the sale, the executive vice president now owns 16,504 shares in the company, valued at $3,664,218.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Desiree Ralls-Morrison sold 3,489 shares of DICK’S Sporting Goods stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $206.65, for a total value of $721,001.85. Following the transaction, the director now directly owns 5,609 shares in the company, valued at approximately $1,159,099.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Julie Lodge-Jarrett sold 4,910 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $222.02, for a total value of $1,090,118.20. Following the sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at $3,664,218.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,400 shares of company stock valued at $1,811,336. Insiders own 32.03% of the company’s stock.
DICK’S Sporting Goods Profile
DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.
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