Park Avenue Securities LLC Acquires New Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Park Avenue Securities LLC acquired a new stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,291 shares of the sporting goods retailer’s stock, valued at approximately $290,000.

Several other institutional investors have also bought and sold shares of the company. US Bancorp DE raised its holdings in DICK’S Sporting Goods by 1.5% during the 4th quarter. US Bancorp DE now owns 4,901 shares of the sporting goods retailer’s stock valued at $720,000 after acquiring an additional 71 shares during the period. Janney Montgomery Scott LLC raised its holdings in DICK’S Sporting Goods by 0.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 13,370 shares of the sporting goods retailer’s stock valued at $1,965,000 after acquiring an additional 87 shares during the period. Kovitz Investment Group Partners LLC raised its holdings in DICK’S Sporting Goods by 0.3% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 28,218 shares of the sporting goods retailer’s stock valued at $4,147,000 after acquiring an additional 94 shares during the period. Linden Thomas Advisory Services LLC raised its holdings in DICK’S Sporting Goods by 1.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 6,479 shares of the sporting goods retailer’s stock valued at $952,000 after acquiring an additional 113 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in DICK’S Sporting Goods by 280.0% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 190 shares of the sporting goods retailer’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Stock Performance

NYSE DKS opened at $202.59 on Tuesday. The company has a 50-day simple moving average of $209.28 and a two-hundred day simple moving average of $186.25. The company has a quick ratio of 0.65, a current ratio of 1.71 and a debt-to-equity ratio of 0.55. DICK’S Sporting Goods, Inc. has a 12-month low of $100.98 and a 12-month high of $234.47. The firm has a market cap of $16.51 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 2.35 and a beta of 1.65.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Wednesday, May 29th. The sporting goods retailer reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.36. DICK’S Sporting Goods had a net margin of 7.73% and a return on equity of 41.80%. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the business posted $3.40 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. On average, equities analysts forecast that DICK’S Sporting Goods, Inc. will post 13.76 EPS for the current year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $1.10 per share. The ex-dividend date was Friday, June 14th. This represents a $4.40 annualized dividend and a yield of 2.17%. DICK’S Sporting Goods’s payout ratio is 36.42%.

Analyst Ratings Changes

A number of brokerages have issued reports on DKS. Morgan Stanley boosted their target price on shares of DICK’S Sporting Goods from $235.00 to $245.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Wedbush reaffirmed a “neutral” rating and issued a $230.00 price target on shares of DICK’S Sporting Goods in a report on Wednesday, June 5th. The Goldman Sachs Group upped their price target on shares of DICK’S Sporting Goods from $157.00 to $247.00 and gave the stock a “buy” rating in a report on Friday, March 15th. JPMorgan Chase & Co. upped their price target on shares of DICK’S Sporting Goods from $197.00 to $211.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Finally, DA Davidson upped their price target on shares of DICK’S Sporting Goods from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $237.09.

Insider Buying and Selling at DICK’S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 4,910 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $222.02, for a total transaction of $1,090,118.20. Following the completion of the sale, the executive vice president now directly owns 16,504 shares in the company, valued at $3,664,218.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 32.03% of the company’s stock.

About DICK’S Sporting Goods

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.