Prudential PLC Makes New Investment in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Prudential PLC bought a new stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,970 shares of the sporting goods retailer’s stock, valued at approximately $423,000.

A number of other institutional investors and hedge funds have also made changes to their positions in DKS. V Square Quantitative Management LLC purchased a new stake in DICK’S Sporting Goods in the 1st quarter valued at approximately $25,000. Covestor Ltd boosted its stake in shares of DICK’S Sporting Goods by 70.5% in the first quarter. Covestor Ltd now owns 133 shares of the sporting goods retailer’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. Innealta Capital LLC acquired a new position in DICK’S Sporting Goods during the second quarter worth $31,000. ORG Partners LLC purchased a new position in DICK’S Sporting Goods in the second quarter worth $30,000. Finally, Versant Capital Management Inc lifted its holdings 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 acquiring an additional 118 shares during the period. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DICK’S Sporting Goods

In related news, Director Desiree Ralls-Morrison sold 3,489 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $206.65, for a total value of $721,001.85. Following the completion of the sale, the director now directly owns 5,609 shares in the company, valued at $1,159,099.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Stock Performance

Shares of DKS opened at $217.00 on Friday. DICK’S Sporting Goods, Inc. has a 1 year low of $100.98 and a 1 year high of $239.30. The company’s 50 day simple moving average is $215.24 and its 200 day simple moving average is $209.09. The company has a market capitalization of $17.68 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 2.39 and a beta of 1.64. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.69 and a current ratio of 1.77.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.60. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.44 billion. DICK’S Sporting Goods had a return on equity of 45.14% and a net margin of 8.46%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.82 EPS. On average, sell-side analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Thursday, September 19th. DICK’S Sporting Goods’s dividend payout ratio is currently 36.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DKS. Morgan Stanley increased their price target on shares of DICK’S Sporting Goods from $235.00 to $245.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. TD Cowen lifted their price target on shares of DICK’S Sporting Goods from $266.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Wedbush restated a “neutral” rating and issued a $250.00 price target on shares of DICK’S Sporting Goods in a report on Thursday, September 5th. Stifel Nicolaus lifted their price objective on DICK’S Sporting Goods from $215.00 to $232.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Finally, Telsey Advisory Group boosted their target price on DICK’S Sporting Goods from $255.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, DICK’S Sporting Goods presently has an average rating of “Moderate Buy” and a consensus target price of $244.62.

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.