M&T Bank Corp Cuts Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

M&T Bank Corp reduced its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 8.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,346 shares of the sporting goods retailer’s stock after selling 295 shares during the period. M&T Bank Corp’s holdings in DICK’S Sporting Goods were worth $674,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Park Square Financial Group LLC acquired a new stake in DICK’S Sporting Goods during the 4th quarter worth approximately $27,000. Ancora Advisors LLC acquired a new stake in DICK’S Sporting Goods in the fourth quarter valued at approximately $28,000. Bessemer Group Inc. grew its position in DICK’S Sporting Goods by 108.6% in the fourth quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer’s stock valued at $33,000 after acquiring an additional 76 shares in the last quarter. Private Trust Co. NA grew its position in DICK’S Sporting Goods by 54.1% in the first quarter. Private Trust Co. NA now owns 188 shares of the sporting goods retailer’s stock valued at $38,000 after acquiring an additional 66 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its position in DICK’S Sporting Goods by 1,435.7% in the first quarter. Golden State Wealth Management LLC now owns 215 shares of the sporting goods retailer’s stock valued at $43,000 after acquiring an additional 201 shares in the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Robert W. Baird reduced their target price on 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. Gordon Haskett cut DICK’S Sporting Goods from a “buy” rating to a “reduce” rating and set a $170.00 target price on the stock. in a research note on Friday, May 16th. Citigroup reiterated a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Thursday, May 29th. Stifel Nicolaus cut their target price on DICK’S Sporting Goods from $226.00 to $192.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Finally, Barclays raised their price target on DICK’S Sporting Goods from $217.00 to $232.00 and gave the company an “overweight” rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, DICK’S Sporting Goods currently has an average rating of “Hold” and an average target price of $219.56.

DICK’S Sporting Goods Stock Down 1.2%

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

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 EPS for the quarter, hitting the consensus estimate of $3.37. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.12 billion. DICK’S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. As a group, research analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a $1.2125 dividend. This represents a $4.85 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Friday, June 13th. DICK’S Sporting Goods’s dividend payout ratio is 34.69%.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, CEO Lauren R. Hobart sold 40,166 shares of the business’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $204.58, for a total value of $8,217,160.28. Following the transaction, the chief executive officer owned 299,990 shares of the company’s stock, valued at approximately $61,371,954.20. The trade was a 11.81% 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 this hyperlink. Also, Director Robert W. Eddy acquired 1,280 shares of DICK’S Sporting Goods stock in a transaction on Thursday, June 26th. The stock was acquired at an average cost of $194.99 per share, for a total transaction of $249,587.20. Following the purchase, the director owned 6,048 shares of the company’s stock, valued at approximately $1,179,299.52. This represents a 26.85% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 55,866 shares of company stock worth $11,462,773 over the last quarter. Corporate insiders own 32.55% of the company’s stock.

About DICK’S Sporting Goods

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.