Seven Eight Capital LP Lowers Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Seven Eight Capital LP reduced its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 70.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,863 shares of the sporting goods retailer’s stock after selling 23,933 shares during the quarter. Seven Eight Capital LP’s holdings in DICK’S Sporting Goods were worth $2,119,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. ICA Group Wealth Management LLC purchased a new stake in shares of DICK’S Sporting Goods during the 2nd quarter worth $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 worth $30,000 after purchasing an additional 55 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of DICK’S Sporting Goods during the 2nd quarter worth $30,000. Innealta Capital LLC purchased a new stake in shares of DICK’S Sporting Goods during the 2nd quarter worth $31,000. Finally, Versant Capital Management Inc raised its stake in DICK’S Sporting Goods by 222.6% in the second quarter. Versant Capital Management Inc now owns 171 shares of the sporting goods retailer’s stock valued at $37,000 after buying an additional 118 shares during the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Stifel Nicolaus increased their price target on 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. Bank of America increased their price target on DICK’S Sporting Goods from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. Truist Financial increased 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. DA Davidson reiterated a “buy” rating and issued a $265.00 price target on shares of DICK’S Sporting Goods in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. increased their price objective on DICK’S Sporting Goods from $211.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $244.62.

Insider Buying and Selling at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, Director Desiree Ralls-Morrison sold 3,489 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 5,609 shares of the company’s stock, valued at $1,159,099.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 32.03% of the stock is owned by corporate insiders.

DICK’S Sporting Goods Stock Down 0.4 %

DICK’S Sporting Goods stock opened at $212.51 on Thursday. The firm has a market cap of $17.32 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 2.39 and a beta of 1.64. DICK’S Sporting Goods, Inc. has a 52 week low of $100.98 and a 52 week high of $239.30. The business’s 50-day moving average price is $215.70 and its 200 day moving average price is $210.01. The company has a quick ratio of 0.69, a current ratio of 1.77 and a debt-to-equity ratio of 0.51.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings data on Wednesday, September 4th. The sporting goods retailer reported $4.37 EPS for the quarter, beating 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 company had revenue of $3.47 billion for 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 anticipate that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, September 20th. DICK’S Sporting Goods’s payout ratio is currently 36.42%.

DICK’S Sporting Goods Company 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.