State of Michigan Retirement System Has $3.02 Million Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

State of Michigan Retirement System lowered its position in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 14.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 14,070 shares of the sporting goods retailer’s stock after selling 2,300 shares during the period. State of Michigan Retirement System’s holdings in DICK’S Sporting Goods were worth $3,023,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of DKS. TFO Wealth Partners LLC lifted its holdings in DICK’S Sporting Goods by 37,250.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,241 shares of the sporting goods retailer’s stock valued at $329,000 after buying an additional 2,235 shares during the period. Todd Asset Management LLC lifted its stake in shares of DICK’S Sporting Goods by 129.6% in the 4th quarter. Todd Asset Management LLC now owns 144,050 shares of the sporting goods retailer’s stock valued at $21,168,000 after purchasing an additional 81,313 shares during the period. Franklin Resources Inc. boosted its position in shares of DICK’S Sporting Goods by 22.0% during the 4th quarter. Franklin Resources Inc. now owns 118,140 shares of the sporting goods retailer’s stock valued at $17,361,000 after purchasing an additional 21,342 shares in the last quarter. National Bank of Canada FI grew its stake in DICK’S Sporting Goods by 1,313.0% during the fourth quarter. National Bank of Canada FI now owns 13,989 shares of the sporting goods retailer’s stock worth $2,042,000 after purchasing an additional 12,999 shares during the period. Finally, Nomura Holdings Inc. bought a new stake in DICK’S Sporting Goods in the fourth quarter worth approximately $956,000. 89.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DKS has been the topic of a number of research analyst reports. Robert W. Baird increased their price target on DICK’S Sporting Goods from $225.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Oppenheimer increased their target price on shares of DICK’S Sporting Goods from $240.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. Wedbush reiterated a “neutral” rating and set a $230.00 price objective on shares of DICK’S Sporting Goods in a report on Wednesday, June 5th. Bank of America upgraded DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their target price for the company from $225.00 to $240.00 in a research note on Wednesday, May 29th. Finally, Citigroup boosted their target price on DICK’S Sporting Goods from $220.00 to $230.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $240.81.

Insider Buying and Selling at DICK’S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 4,910 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $222.02, for a total transaction of $1,090,118.20. Following the completion of the sale, the executive vice president now owns 16,504 shares in the company, valued at approximately $3,664,218.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Julie Lodge-Jarrett sold 4,910 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $222.02, for a total transaction of $1,090,118.20. Following the completion of the transaction, the executive vice president now owns 16,504 shares in the company, valued at approximately $3,664,218.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Desiree Ralls-Morrison sold 3,489 shares of DICK’S Sporting Goods stock in a transaction dated Thursday, July 11th. The stock was 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 of the company’s stock, valued at approximately $1,159,099.85. The disclosure for this sale can be found here. Insiders have sold a total of 8,400 shares of company stock worth $1,811,336 over the last three months. 32.03% of the stock is currently owned by insiders.

DICK’S Sporting Goods Stock Up 0.5 %

DKS stock opened at $236.30 on Wednesday. The stock has a market cap of $19.26 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.26 and a beta of 1.65. The company has a current ratio of 1.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.55. The stock’s fifty day simple moving average is $213.93 and its two-hundred day simple moving average is $204.90. DICK’S Sporting Goods, Inc. has a 1-year low of $100.98 and a 1-year high of $239.30.

DICK’S Sporting Goods (NYSE:DKS) last released its earnings results on Wednesday, May 29th. The sporting goods retailer reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.36. The company had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.94 billion. DICK’S Sporting Goods had a return on equity of 41.80% and a net margin of 7.73%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.40 EPS. Analysts expect that DICK’S Sporting Goods, Inc. will post 13.76 EPS for the current year.

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.