Steel Grove Capital Advisors LLC Makes New Investment in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Steel Grove Capital Advisors LLC acquired a new position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) 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 (NYSE:DKS) last posted its quarterly earnings results on Wednesday, May 29th. The sporting goods retailer reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.36. The company had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.94 billion. DICK’S Sporting Goods had a return on equity of 41.80% and a net margin of 7.73%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.40 EPS. As a group, research analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.76 EPS for the current fiscal year.

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.

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.