Bank of America Corp DE Acquires 3,030,642 Shares of DICK’S Sporting Goods, Inc. $DKS

Bank of America Corp DE raised its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 588.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,545,944 shares of the sporting goods retailer’s stock after buying an additional 3,030,642 shares during the period. Bank of America Corp DE owned 4.43% of DICK’S Sporting Goods worth $787,980,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of DICK’S Sporting Goods by 83.9% in the third quarter. Wellington Management Group LLP now owns 6,606,860 shares of the sporting goods retailer’s stock valued at $1,468,176,000 after acquiring an additional 3,013,850 shares during the last quarter. Vanguard Group Inc. boosted its position in DICK’S Sporting Goods by 17.8% during the third quarter. Vanguard Group Inc. now owns 6,719,011 shares of the sporting goods retailer’s stock valued at $1,493,099,000 after purchasing an additional 1,015,599 shares during the last quarter. Atreides Management LP bought a new position in DICK’S Sporting Goods in the second quarter valued at approximately $172,715,000. Norges Bank bought a new position in DICK’S Sporting Goods in the second quarter valued at approximately $136,483,000. Finally, Browning West LP acquired a new position in shares of DICK’S Sporting Goods during the 2nd quarter worth approximately $115,719,000. 89.83% of the stock is owned by institutional investors.

DICK’S Sporting Goods Stock Performance

DKS opened at $187.50 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 1.53 and a debt-to-equity ratio of 0.34. DICK’S Sporting Goods, Inc. has a 12-month low of $166.37 and a 12-month high of $237.31. The business has a 50 day moving average of $205.58 and a 200-day moving average of $213.84. The stock has a market cap of $16.87 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 2.68 and a beta of 1.23.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Thursday, March 12th. The sporting goods retailer reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.02. DICK’S Sporting Goods had a return on equity of 27.12% and a net margin of 4.93%.The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period in the previous year, the firm earned $3.62 EPS. The firm’s revenue was up 59.9% compared to the same quarter last year. DICK’S Sporting Goods has set its FY 2026 guidance at 13.500-14.500 EPS. On average, equities research analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a $1.25 dividend. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.21. This represents a $5.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, March 27th. DICK’S Sporting Goods’s dividend payout ratio is presently 48.92%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DKS. Jefferies Financial Group reiterated a “hold” rating and set a $210.00 price objective on shares of DICK’S Sporting Goods in a research note on Thursday. UBS Group restated a “buy” rating on shares of DICK’S Sporting Goods in a report on Tuesday, March 3rd. DA Davidson set a $260.00 price target on shares of DICK’S Sporting Goods in a research report on Monday, January 12th. Wells Fargo & Company cut their price target on shares of DICK’S Sporting Goods from $225.00 to $200.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Morgan Stanley decreased their price objective on shares of DICK’S Sporting Goods from $260.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $236.21.

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.