MBB Public Markets I LLC Makes New Investment in DICK’S Sporting Goods, Inc. (NYSE:DKS)

MBB Public Markets I LLC purchased a new position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,700 shares of the sporting goods retailer’s stock, valued at approximately $1,010,000.

Other large investors also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC acquired a new position in DICK’S Sporting Goods during the second quarter worth $28,000. Covestor Ltd increased its position in shares of DICK’S Sporting Goods by 70.5% during the first quarter. Covestor Ltd now owns 133 shares of the sporting goods retailer’s stock worth $30,000 after acquiring an additional 55 shares during the period. Innealta Capital LLC purchased a new stake in shares of DICK’S Sporting Goods during the second quarter worth $31,000. ORG Partners LLC purchased a new stake in shares of DICK’S Sporting Goods during the second quarter worth $30,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of DICK’S Sporting Goods during the second quarter worth $34,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

DICK’S Sporting Goods Price Performance

Shares of DKS opened at $208.60 on Tuesday. DICK’S Sporting Goods, Inc. has a fifty-two week low of $100.98 and a fifty-two week high of $239.30. The company has a market capitalization of $17.00 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 2.45 and a beta of 1.64. The firm has a 50-day simple moving average of $215.75 and a 200-day simple moving average of $211.77. 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 announced its earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.60. DICK’S Sporting Goods had a net margin of 8.46% and a return on equity of 45.14%. The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the prior year, the firm earned $2.82 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.9 earnings per share for the current year.

DICK’S Sporting Goods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be given a $1.10 dividend. The ex-dividend date is Friday, September 20th. This represents a $4.40 dividend on an annualized basis and a yield of 2.11%. DICK’S Sporting Goods’s payout ratio is currently 36.42%.

Wall Street Analysts Forecast Growth

DKS has been the topic of a number of recent research reports. Barclays upped their price objective on DICK’S Sporting Goods from $247.00 to $254.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Wells Fargo & Company dropped their target price on DICK’S Sporting Goods from $230.00 to $227.00 and set an “equal weight” rating on the stock in a report on Monday, August 12th. Bank of America increased their target price on DICK’S Sporting Goods from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Telsey Advisory Group increased their target price on DICK’S Sporting Goods from $255.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, UBS Group increased their target price on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DICK’S Sporting Goods presently has an average rating of “Moderate Buy” and a consensus target price of $244.62.

Insider Activity at DICK’S Sporting Goods

In related news, Director Desiree Ralls-Morrison sold 3,489 shares of the firm’s stock in a transaction dated 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 owns 5,609 shares in the company, valued at $1,159,099.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 32.03% of the stock is owned by insiders.

About DICK’S Sporting Goods

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.