Charles Schwab Investment Management Inc. Lowers Stock Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Charles Schwab Investment Management Inc. cut its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 78.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 393,349 shares of the sporting goods retailer’s stock after selling 1,472,828 shares during the period. Charles Schwab Investment Management Inc. owned 0.49% of DICK’S Sporting Goods worth $79,283,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. XTX Topco Ltd purchased a new stake in shares of DICK’S Sporting Goods during the 4th quarter valued at $485,000. Bessemer Group Inc. boosted its position in DICK’S Sporting Goods by 49.3% during the 1st quarter. Bessemer Group Inc. now owns 218 shares of the sporting goods retailer’s stock worth $44,000 after purchasing an additional 72 shares during the period. Fifth Third Bancorp boosted its position in DICK’S Sporting Goods by 27.5% during the 1st quarter. Fifth Third Bancorp now owns 968 shares of the sporting goods retailer’s stock worth $195,000 after purchasing an additional 209 shares during the period. NBC Securities Inc. purchased a new stake in DICK’S Sporting Goods during the 1st quarter worth $54,000. Finally, Janus Henderson Group PLC boosted its position in DICK’S Sporting Goods by 15.9% during the 4th quarter. Janus Henderson Group PLC now owns 11,640 shares of the sporting goods retailer’s stock worth $2,664,000 after purchasing an additional 1,594 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on DKS shares. DA Davidson reaffirmed a “buy” rating and set a $230.00 price target on shares of DICK’S Sporting Goods in a research report on Friday, June 27th. Bank of America decreased their price target on shares of DICK’S Sporting Goods from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Tuesday, June 24th. Gordon Haskett raised shares of DICK’S Sporting Goods from a “reduce” rating to a “hold” rating in a research report on Friday, July 25th. TD Cowen cut shares of DICK’S Sporting Goods from a “buy” rating to a “hold” rating and set a $216.00 price target for the company. in a research report on Thursday, May 15th. Finally, Wells Fargo & Company boosted their price objective on shares of DICK’S Sporting Goods from $171.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 14th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $221.50.

Insider Activity

In other DICK’S Sporting Goods news, Director Robert W. Eddy acquired 1,280 shares of the company’s stock in a transaction that occurred on Thursday, June 26th. The shares were purchased at an average price of $194.99 per share, for a total transaction of $249,587.20. Following the completion of the purchase, the director directly owned 6,048 shares in the company, valued at $1,179,299.52. The trade was a 26.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Navdeep Gupta sold 9,303 shares of the stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $215.00, for a total transaction of $2,000,145.00. Following the sale, the executive vice president owned 87,778 shares in the company, valued at approximately $18,872,270. This trade represents a 9.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,866 shares of company stock valued at $11,462,773 over the last quarter. Corporate insiders own 32.55% of the company’s stock.

DICK’S Sporting Goods Stock Performance

Shares of DICK’S Sporting Goods stock opened at $226.27 on Thursday. The firm has a market cap of $18.11 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 3.17 and a beta of 1.07. The firm’s 50-day simple moving average is $201.19 and its 200-day simple moving average is $202.28. 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 1 year low of $166.37 and a 1 year high of $254.60.

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

DICK’S Sporting Goods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a dividend of $1.2125 per share. The ex-dividend date was Friday, June 13th. This represents a $4.85 annualized dividend and a yield of 2.1%. DICK’S Sporting Goods’s dividend payout ratio is 34.69%.

DICK’S Sporting Goods 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.