Envestnet Asset Management Inc. Cuts Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Envestnet Asset Management Inc. reduced its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 6.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,275 shares of the sporting goods retailer’s stock after selling 8,796 shares during the period. Envestnet Asset Management Inc. owned about 0.16% of DICK’S Sporting Goods worth $25,855,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Independent Advisor Alliance increased its position in shares of DICK’S Sporting Goods by 5.4% in the 4th quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer’s stock valued at $235,000 after purchasing an additional 53 shares during the last quarter. HighTower Advisors LLC increased its position in shares of DICK’S Sporting Goods by 298.8% in the 4th quarter. HighTower Advisors LLC now owns 12,756 shares of the sporting goods retailer’s stock valued at $2,919,000 after purchasing an additional 19,171 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of DICK’S Sporting Goods by 88.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,792 shares of the sporting goods retailer’s stock valued at $410,000 after purchasing an additional 842 shares during the last quarter. Avantax Advisory Services Inc. increased its position in shares of DICK’S Sporting Goods by 13.8% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,034 shares of the sporting goods retailer’s stock valued at $694,000 after purchasing an additional 367 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of DICK’S Sporting Goods by 10.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 59,053 shares of the sporting goods retailer’s stock valued at $13,514,000 after purchasing an additional 5,521 shares during the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DICK’S Sporting Goods

In related news, EVP Navdeep Gupta sold 9,303 shares of the business’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $215.00, for a total value of $2,000,145.00. Following the completion of the sale, the executive vice president directly owned 87,778 shares in the company, valued at approximately $18,872,270. The trade was a 9.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Julie Lodge-Jarrett sold 1,026 shares of the business’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $203.50, for a total transaction of $208,791.00. Following the completion of the sale, the executive vice president owned 18,139 shares of the company’s stock, valued at approximately $3,691,286.50. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,866 shares of company stock valued at $11,462,773. Corporate insiders own 32.55% of the company’s stock.

DICK’S Sporting Goods Stock Down 1.2%

Shares of NYSE DKS opened at $206.26 on Wednesday. The company has a quick ratio of 0.47, a current ratio of 1.62 and a debt-to-equity ratio of 0.49. DICK’S Sporting Goods, Inc. has a 52 week low of $166.37 and a 52 week high of $254.60. The firm has a 50-day moving average price of $188.63 and a 200 day moving average price of $204.61. The stock has a market capitalization of $16.51 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 2.98 and a beta of 1.07.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share for the quarter, meeting the consensus estimate of $3.37. DICK’S Sporting Goods had a net margin of 8.49% and a return on equity of 38.06%. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.12 billion. Equities research analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $1.2125 per share. The ex-dividend date was Friday, June 13th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.35%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 34.69%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DKS shares. Bank of America dropped their target price on shares of DICK’S Sporting Goods from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, June 24th. DA Davidson reaffirmed a “buy” rating and issued a $230.00 target price on shares of DICK’S Sporting Goods in a research report on Friday, June 27th. Wall Street Zen raised shares of DICK’S Sporting Goods from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Barclays increased their target price on shares of DICK’S Sporting Goods from $217.00 to $232.00 and gave the company an “overweight” rating in a research report on Thursday, May 29th. Finally, Robert W. Baird decreased their price target on shares of DICK’S Sporting Goods from $230.00 to $185.00 and set a “neutral” rating for the company in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $219.56.

DICK’S Sporting Goods Company Profile

Dick’s Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.