Strategy Asset Managers LLC Buys New Shares in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Strategy Asset Managers LLC purchased a new position in DICK’S Sporting Goods, Inc. (NYSE:DKS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,725 shares of the sporting goods retailer’s stock, valued at approximately $4,325,000.

Several other hedge funds have also added to or reduced their stakes in DKS. ICA Group Wealth Management LLC purchased a new position in shares of DICK’S Sporting Goods in the second quarter worth about $28,000. Covestor Ltd increased its stake in DICK’S Sporting Goods by 70.5% in the 1st quarter. Covestor Ltd now owns 133 shares of the sporting goods retailer’s stock worth $30,000 after purchasing an additional 55 shares during the period. ORG Partners LLC purchased a new position in DICK’S Sporting Goods in the 2nd quarter worth approximately $30,000. ORG Wealth Partners LLC bought a new stake in DICK’S Sporting Goods in the third quarter valued at approximately $30,000. Finally, Innealta Capital LLC purchased a new stake in shares of DICK’S Sporting Goods during the second quarter valued at approximately $31,000. 89.83% of the stock is owned by institutional investors.

DICK’S Sporting Goods Stock Performance

DKS stock opened at $199.52 on Wednesday. The stock’s 50 day simple moving average is $206.35 and its 200 day simple moving average is $210.41. The company has a current ratio of 1.77, a quick ratio of 0.69 and a debt-to-equity ratio of 0.51. DICK’S Sporting Goods, Inc. has a 12-month low of $117.71 and a 12-month high of $239.30. The stock has a market capitalization of $16.24 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 2.25 and a beta of 1.64.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the prior year, the company posted $2.82 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.91 earnings per share for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 20th were issued a dividend of $1.10 per share. The ex-dividend date was Friday, September 20th. This represents a $4.40 annualized dividend and a dividend yield of 2.21%. DICK’S Sporting Goods’s payout ratio is 32.28%.

Wall Street Analyst Weigh In

DKS has been the topic of a number of recent analyst reports. Evercore ISI reissued an “outperform” rating and issued a $280.00 price target on shares of DICK’S Sporting Goods in a report on Thursday, September 5th. TD Cowen raised their target price on DICK’S Sporting Goods from $266.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Barclays upped their price target on DICK’S Sporting Goods from $247.00 to $254.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Bank of America lifted their price objective on 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. Finally, Robert W. Baird reiterated a “neutral” rating and set a $235.00 price target on shares of DICK’S Sporting Goods in a research report on Wednesday, August 28th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $244.62.

About DICK’S Sporting Goods

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.