Royal Bank of Canada Sells 22,956 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Royal Bank of Canada decreased its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) by 21.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,057 shares of the sporting goods retailer’s stock after selling 22,956 shares during the period. Royal Bank of Canada owned approximately 0.11% of DICK’S Sporting Goods worth $9,004,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in DICK’S Sporting Goods by 1,226.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,209,479 shares of the sporting goods retailer’s stock valued at $91,158,000 after acquiring an additional 1,118,279 shares in the last quarter. Samlyn Capital LLC increased its stake in DICK’S Sporting Goods by 179.0% in the 3rd quarter. Samlyn Capital LLC now owns 1,179,258 shares of the sporting goods retailer’s stock valued at $123,397,000 after buying an additional 756,539 shares during the last quarter. AQR Capital Management LLC lifted its position in DICK’S Sporting Goods by 155.1% during the 2nd quarter. AQR Capital Management LLC now owns 636,689 shares of the sporting goods retailer’s stock worth $47,446,000 after buying an additional 387,139 shares in the last quarter. Fiera Capital Corp grew its holdings in shares of DICK’S Sporting Goods by 43.5% in the 2nd quarter. Fiera Capital Corp now owns 600,006 shares of the sporting goods retailer’s stock valued at $45,223,000 after acquiring an additional 181,836 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of DICK’S Sporting Goods by 7.4% in the second quarter. Wells Fargo & Company MN now owns 535,277 shares of the sporting goods retailer’s stock valued at $40,344,000 after acquiring an additional 36,714 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DKS shares. Oppenheimer raised their price target on DICK’S Sporting Goods from $138.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday. DA Davidson upped their price target on shares of DICK’S Sporting Goods from $145.00 to $178.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company lifted their price objective on shares of DICK’S Sporting Goods from $103.00 to $120.00 in a research report on Wednesday, November 23rd. Argus raised their target price on shares of DICK’S Sporting Goods from $130.00 to $140.00 in a research note on Tuesday, December 6th. Finally, Wedbush boosted their price target on DICK’S Sporting Goods from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $155.32.

Insider Activity

In related news, EVP Vladimir Rak sold 29,144 shares of DICK’S Sporting Goods stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $112.43, for a total value of $3,276,659.92. Following the transaction, the executive vice president now directly owns 48,260 shares of the company’s stock, valued at $5,425,871.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 32.83% of the company’s stock.

DICK’S Sporting Goods Trading Down 2.0 %

Shares of DKS stock opened at $146.27 on Friday. The stock has a market cap of $11.58 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41. DICK’S Sporting Goods, Inc. has a 1 year low of $63.45 and a 1 year high of $152.61. The company has a current ratio of 1.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.61. The stock has a 50 day simple moving average of $130.10 and a 200 day simple moving average of $118.24.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last announced its quarterly earnings data on Tuesday, March 7th. The sporting goods retailer reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.07. DICK’S Sporting Goods had a return on equity of 45.97% and a net margin of 8.43%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the previous year, the firm earned $3.64 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts predict that DICK’S Sporting Goods, Inc. will post 13.58 earnings per share for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be issued a $1.00 dividend. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $0.49. This represents a $4.00 annualized dividend and a yield of 2.73%. The ex-dividend date is Thursday, March 16th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is currently 18.11%.

DICK’S Sporting Goods Profile

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Dick’s Sporting Goods, Inc engages in the retail of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories through a blend of associates, in-store services, and unique specialty shop-in-shops. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.