Renaissance Technologies LLC Buys 375,600 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Renaissance Technologies LLC boosted its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 51.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,106,341 shares of the sporting goods retailer’s stock after buying an additional 375,600 shares during the period. Renaissance Technologies LLC’s holdings in DICK’S Sporting Goods were worth $237,697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of DICK’S Sporting Goods during the 1st quarter valued at about $25,000. ICA Group Wealth Management LLC purchased a new position in shares of DICK’S Sporting Goods during the 2nd quarter valued at $28,000. Covestor Ltd lifted its stake in shares of DICK’S Sporting Goods by 70.5% during the 1st quarter. Covestor Ltd now owns 133 shares of the sporting goods retailer’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. ORG Partners LLC purchased a new position in shares of DICK’S Sporting Goods during the 2nd quarter valued at $30,000. Finally, Innealta Capital LLC purchased a new stake in DICK’S Sporting Goods in the 2nd quarter worth $31,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of DICK’S Sporting Goods from $211.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Bank of America upped their price target on shares of DICK’S Sporting Goods from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Barclays upped their price target on shares of DICK’S Sporting Goods from $247.00 to $254.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Morgan Stanley increased their target price on shares of DICK’S Sporting Goods from $235.00 to $245.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $235.00 price objective on shares of DICK’S Sporting Goods in a research note on Wednesday, August 28th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, DICK’S Sporting Goods presently has a consensus rating of “Moderate Buy” and an average target price of $244.62.

DICK’S Sporting Goods Price Performance

NYSE:DKS opened at $216.95 on Monday. The firm has a market cap of $17.68 billion, a P/E ratio of 17.96, a PEG ratio of 2.39 and a beta of 1.64. The company has a quick ratio of 0.69, a current ratio of 1.77 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $215.24 and its 200 day moving average price is $209.54. DICK’S Sporting Goods, Inc. has a 52-week low of $100.98 and a 52-week high of $239.30.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings data on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.60. DICK’S Sporting Goods had a return on equity of 45.14% and a net margin of 8.46%. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same period last year, the company earned $2.82 earnings per share. DICK’S Sporting Goods’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, September 19th. DICK’S Sporting Goods’s dividend payout ratio is 36.42%.

Insider Activity

In related news, Director Desiree Ralls-Morrison sold 3,489 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $206.65, for a total transaction of $721,001.85. Following the completion of the sale, the director now owns 5,609 shares in the company, valued at approximately $1,159,099.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 32.03% of the stock is owned by corporate insiders.

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.