State Board of Administration of Florida Retirement System Has $5.33 Million Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

State Board of Administration of Florida Retirement System lessened its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKSGet Rating) by 11.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 70,748 shares of the sporting goods retailer’s stock after selling 9,063 shares during the period. State Board of Administration of Florida Retirement System owned 0.09% of DICK’S Sporting Goods worth $5,332,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of DKS. Stratos Wealth Partners LTD. lifted its position in shares of DICK’S Sporting Goods by 27.2% during the 1st quarter. Stratos Wealth Partners LTD. now owns 2,821 shares of the sporting goods retailer’s stock valued at $282,000 after acquiring an additional 604 shares during the period. Comerica Bank lifted its position in shares of DICK’S Sporting Goods by 1.4% during the 1st quarter. Comerica Bank now owns 46,232 shares of the sporting goods retailer’s stock valued at $4,970,000 after acquiring an additional 630 shares during the period. Navellier & Associates Inc. raised its holdings in DICK’S Sporting Goods by 567.0% during the first quarter. Navellier & Associates Inc. now owns 39,849 shares of the sporting goods retailer’s stock worth $3,986,000 after buying an additional 33,875 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in DICK’S Sporting Goods by 17.6% during the first quarter. Steward Partners Investment Advisory LLC now owns 1,035 shares of the sporting goods retailer’s stock worth $103,000 after buying an additional 155 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in DICK’S Sporting Goods during the first quarter worth $1,148,000. Institutional investors and hedge funds own 78.85% of the company’s stock.

DICK’S Sporting Goods Price Performance

DKS opened at $108.46 on Friday. The firm has a market cap of $8.59 billion, a P/E ratio of 9.30, a PEG ratio of 1.79 and a beta of 1.46. The firm has a 50-day moving average of $110.84 and a 200 day moving average of $97.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.75 and a current ratio of 1.82. DICK’S Sporting Goods, Inc. has a fifty-two week low of $63.45 and a fifty-two week high of $142.78.

DICK’S Sporting Goods (NYSE:DKSGet Rating) last issued its earnings results on Tuesday, August 23rd. The sporting goods retailer reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $3.53 by $0.15. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.07 billion. DICK’S Sporting Goods had a net margin of 10.42% and a return on equity of 55.70%. The company’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the business earned $5.08 earnings per share. On average, research analysts expect that DICK’S Sporting Goods, Inc. will post 11.44 EPS for the current year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 9th were given a dividend of $0.488 per share. The ex-dividend date was Thursday, September 8th. This represents a $1.95 dividend on an annualized basis and a yield of 1.80%. DICK’S Sporting Goods’s dividend payout ratio is presently 16.72%.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, SVP John Edward Hayes III sold 16,219 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $109.70, for a total transaction of $1,779,224.30. Following the completion of the transaction, the senior vice president now owns 27,231 shares in the company, valued at $2,987,240.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Lauren R. Hobart sold 53,486 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $110.21, for a total value of $5,894,692.06. Following the completion of the transaction, the chief executive officer now directly owns 316,661 shares in the company, valued at $34,899,208.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John Edward Hayes III sold 16,219 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $109.70, for a total transaction of $1,779,224.30. Following the completion of the transaction, the senior vice president now owns 27,231 shares of the company’s stock, valued at $2,987,240.70. The disclosure for this sale can be found here. Company insiders own 32.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on DKS. Evercore ISI upped their price objective on shares of DICK’S Sporting Goods from $120.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, August 24th. Cowen upped their price objective on shares of DICK’S Sporting Goods from $126.00 to $128.00 and gave the stock an “outperform” rating in a report on Wednesday, August 17th. Citigroup upped their price objective on shares of DICK’S Sporting Goods from $132.00 to $136.00 in a report on Wednesday, August 24th. Bank of America upped their price objective on shares of DICK’S Sporting Goods from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 19th. Finally, OTR Global upgraded shares of DICK’S Sporting Goods from a “mixed” rating to a “positive” rating in a report on Wednesday, August 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $124.16.

DICK’S Sporting Goods Profile

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DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as a sporting goods retailer primarily in the eastern United States. The company provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories.

Further Reading

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Institutional Ownership by Quarter for DICK'S Sporting Goods (NYSE:DKS)

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