DICK’S Sporting Goods, Inc. (NYSE:DKS) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,370 shares of the sporting goods retailer’s stock after selling 500 shares during the quarter. State of Michigan Retirement System’s holdings in DICK’S Sporting Goods were worth $3,681,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in DICK’S Sporting Goods by 280.0% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 190 shares of the sporting goods retailer’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of DICK’S Sporting Goods by 236.8% in the fourth quarter. Blue Trust Inc. now owns 293 shares of the sporting goods retailer’s stock worth $43,000 after buying an additional 206 shares during the period. Rise Advisors LLC increased its position in shares of DICK’S Sporting Goods by 163.9% in the first quarter. Rise Advisors LLC now owns 256 shares of the sporting goods retailer’s stock worth $57,000 after acquiring an additional 159 shares in the last quarter. Capital Analysts LLC raised its holdings in shares of DICK’S Sporting Goods by 132.5% during the fourth quarter. Capital Analysts LLC now owns 451 shares of the sporting goods retailer’s stock valued at $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 valued at $73,000 after acquiring an additional 476 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Stock Down 2.1 %

Shares of NYSE DKS opened at $198.20 on Wednesday. The firm has a 50 day moving average price of $209.12 and a 200 day moving average price of $186.63. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.65 and a current ratio of 1.71. The stock has a market cap of $16.15 billion, a P/E ratio of 16.41, a P/E/G ratio of 2.35 and a beta of 1.65. DICK’S Sporting Goods, Inc. has a 52-week low of $100.98 and a 52-week high of $234.47.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Wednesday, May 29th. The sporting goods retailer reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.36. DICK’S Sporting Goods had a return on equity of 41.80% and a net margin of 7.73%. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the company earned $3.40 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts expect that DICK’S Sporting Goods, Inc. will post 13.76 EPS for the current year.

DICK’S Sporting Goods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Friday, June 14th. DICK’S Sporting Goods’s dividend payout ratio is presently 36.42%.

Insider Buying and Selling at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 4,910 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were 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 directly owns 16,504 shares of the company’s stock, valued at approximately $3,664,218.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 32.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DKS shares. The Goldman Sachs Group increased their target price on shares of DICK’S Sporting Goods from $157.00 to $247.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Truist Financial boosted their price target on DICK’S Sporting Goods from $243.00 to $256.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Telsey Advisory Group reiterated an “outperform” rating and issued a $245.00 target price on shares of DICK’S Sporting Goods in a research note on Wednesday, May 29th. Wedbush restated a “neutral” rating and set a $230.00 price target on shares of DICK’S Sporting Goods in a report on Wednesday, June 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of DICK’S Sporting Goods from $197.00 to $211.00 and gave the stock a “neutral” rating in a report 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.