JPMorgan Chase & Co. Cuts Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

JPMorgan Chase & Co. lowered its position in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 22.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 620,919 shares of the sporting goods retailer’s stock after selling 184,085 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.76% of DICK’S Sporting Goods worth $129,586,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DKS. Brooklyn Investment Group purchased a new stake in shares of DICK’S Sporting Goods during the 3rd quarter worth $27,000. ICA Group Wealth Management LLC purchased a new stake in DICK’S Sporting Goods during the 2nd quarter worth about $28,000. ORG Wealth Partners LLC acquired a new position in shares of DICK’S Sporting Goods during the 3rd quarter worth about $30,000. True Wealth Design LLC boosted its position in shares of DICK’S Sporting Goods by 2,900.0% during the 3rd quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock worth $31,000 after acquiring an additional 145 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in shares of DICK’S Sporting Goods in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on DKS shares. Wedbush reaffirmed a “neutral” rating and issued a $215.00 price target (down from $250.00) on shares of DICK’S Sporting Goods in a report on Wednesday, November 27th. Barclays upped their target price on shares of DICK’S Sporting Goods from $247.00 to $254.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. UBS Group raised shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and boosted their price target for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Truist Financial raised their price objective on DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. boosted their target price 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. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $244.95.

DICK’S Sporting Goods Trading Down 1.3 %

NYSE DKS opened at $228.84 on Thursday. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $18.64 billion, a P/E ratio of 16.36, a P/E/G ratio of 2.52 and a beta of 1.61. DICK’S Sporting Goods, Inc. has a 52-week low of $137.06 and a 52-week high of $239.30. The firm has a 50-day moving average price of $210.94 and a 200 day moving average price of $212.99.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, beating the consensus estimate of $2.68 by $0.07. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same period last year, the firm earned $2.85 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. Equities research analysts expect that DICK’S Sporting Goods, Inc. will post 13.88 EPS for the current year.

DICK’S Sporting Goods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.92%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 31.45%.

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.