Park Avenue Securities LLC Buys Shares of 1,291 DICK’S Sporting Goods, Inc. (NYSE:DKS)

Park Avenue Securities LLC bought a new stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,291 shares of the sporting goods retailer’s stock, valued at approximately $290,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in DICK’S Sporting Goods by 280.0% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 190 shares of the sporting goods retailer’s stock valued at $28,000 after buying an additional 140 shares during the last quarter. Rise Advisors LLC lifted its position in shares of DICK’S Sporting Goods by 163.9% in the 1st quarter. Rise Advisors LLC now owns 256 shares of the sporting goods retailer’s stock worth $57,000 after acquiring an additional 159 shares during the period. Blue Trust Inc. lifted its position in shares of DICK’S Sporting Goods by 236.8% in the 4th quarter. Blue Trust Inc. now owns 293 shares of the sporting goods retailer’s stock worth $43,000 after acquiring an additional 206 shares during the period. Capital Analysts LLC lifted its position in shares of DICK’S Sporting Goods by 132.5% in the 4th quarter. Capital Analysts LLC now owns 451 shares of the sporting goods retailer’s stock worth $66,000 after acquiring an additional 257 shares during the period. Finally, Allworth Financial LP lifted its position in shares of DICK’S Sporting Goods by 2,505.3% in the 4th quarter. Allworth Financial LP now owns 495 shares of the sporting goods retailer’s stock worth $73,000 after acquiring an additional 476 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

DICK’S Sporting Goods Price Performance

DICK’S Sporting Goods stock opened at $202.59 on Tuesday. DICK’S Sporting Goods, Inc. has a 12 month low of $100.98 and a 12 month high of $234.47. The stock’s 50 day moving average is $209.28 and its 200-day moving average is $186.25. The company has a current ratio of 1.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $16.51 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 2.35 and a beta of 1.65.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Wednesday, May 29th. The sporting goods retailer reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.36. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.40 earnings per share. Equities research analysts expect that DICK’S Sporting Goods, Inc. will post 13.76 EPS for the current year.

DICK’S Sporting Goods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Friday, June 14th. DICK’S Sporting Goods’s dividend payout ratio is currently 36.42%.

Insider Buying and Selling

In related news, EVP Julie Lodge-Jarrett sold 4,910 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $222.02, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 32.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DKS has been the subject of a number of research reports. Barclays raised their price objective on DICK’S Sporting Goods from $231.00 to $247.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Bank of America upgraded DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $225.00 to $240.00 in a research report on Wednesday, May 29th. Williams Trading upgraded DICK’S Sporting Goods from a “hold” rating to a “buy” rating and raised their target price for the stock from $154.00 to $235.00 in a research report on Thursday, March 14th. Gordon Haskett raised their target price on DICK’S Sporting Goods from $190.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Truist Financial raised their target price on DICK’S Sporting Goods from $243.00 to $256.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DICK’S Sporting Goods presently has an average rating of “Moderate Buy” and a consensus price target of $237.09.

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.