Bank of New York Mellon Corp Buys 81,239 Shares of DICK’S Sporting Goods, Inc. $DKS

Bank of New York Mellon Corp raised its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 13.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 699,747 shares of the sporting goods retailer’s stock after acquiring an additional 81,239 shares during the period. Bank of New York Mellon Corp owned about 0.87% of DICK’S Sporting Goods worth $155,498,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of DICK’S Sporting Goods during the second quarter valued at about $136,483,000. Rakuten Investment Management Inc. purchased a new stake in DICK’S Sporting Goods in the 3rd quarter valued at about $8,123,000. Caldwell Trust Co purchased a new stake in DICK’S Sporting Goods in the 2nd quarter valued at about $1,433,000. Cerro Pacific Wealth Advisors LLC bought a new position in shares of DICK’S Sporting Goods during the 2nd quarter worth approximately $286,000. Finally, Lancaster Investment Management purchased a new position in shares of DICK’S Sporting Goods in the 3rd quarter worth approximately $31,552,000. Institutional investors own 89.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wells Fargo & Company increased their price target on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 26th. Morgan Stanley raised their target price on DICK’S Sporting Goods from $253.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. DA Davidson set a $260.00 price target on shares of DICK’S Sporting Goods in a report on Monday, January 12th. Weiss Ratings restated a “hold (c+)” rating on shares of DICK’S Sporting Goods in a report on Monday, December 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of DICK’S Sporting Goods in a research report on Monday, January 5th. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $236.95.

DICK’S Sporting Goods Price Performance

DICK’S Sporting Goods stock opened at $201.70 on Friday. DICK’S Sporting Goods, Inc. has a one year low of $166.37 and a one year high of $250.04. The business has a fifty day moving average price of $210.54 and a 200-day moving average price of $217.06. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 0.37. The firm has a market capitalization of $18.15 billion, a P/E ratio of 16.23, a PEG ratio of 3.22 and a beta of 1.19.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, November 25th. The sporting goods retailer reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.16. DICK’S Sporting Goods had a return on equity of 30.55% and a net margin of 6.86%.The firm had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.45 billion. During the same period in the prior year, the business posted $2.75 earnings per share. The company’s revenue was up 36.3% on a year-over-year basis. DICK’S Sporting Goods has set its FY 2025 guidance at 14.250-14.550 EPS. As a group, equities research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 12th were given a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, December 12th. DICK’S Sporting Goods’s payout ratio is 39.02%.

About DICK’S Sporting Goods

DICK’S Sporting Goods is a leading U.S.-based sporting goods retailer that sells a broad range of sports equipment, apparel, footwear and outdoor gear. The company operates an omnichannel business combining physical stores with digital sales, offering products for team sports, fitness, hunting and fishing, golf, and general active lifestyle categories. In addition to its flagship DICK’S stores, the company operates specialty formats such as Golf Galaxy and branded service offerings including team-sports sales and custom equipment solutions.

The company traces its roots to a single sporting goods outlet founded in 1948 and has since grown into a national retail chain serving customers across the United States.