State of Michigan Retirement System Sells 500 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

State of Michigan Retirement System trimmed its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,370 shares of the sporting goods retailer’s stock after selling 500 shares during the quarter. State of Michigan Retirement System’s holdings in DICK’S Sporting Goods were worth $3,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Victory Capital Management Inc. raised its holdings in shares of DICK’S Sporting Goods by 4.2% during the fourth quarter. Victory Capital Management Inc. now owns 2,334,018 shares of the sporting goods retailer’s stock valued at $342,984,000 after purchasing an additional 94,745 shares during the last quarter. Pacer Advisors Inc. increased its position in DICK’S Sporting Goods by 4.5% during the fourth quarter. Pacer Advisors Inc. now owns 817,300 shares of the sporting goods retailer’s stock valued at $120,102,000 after acquiring an additional 34,942 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in DICK’S Sporting Goods by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 807,203 shares of the sporting goods retailer’s stock valued at $118,621,000 after acquiring an additional 10,091 shares during the period. Norges Bank bought a new stake in shares of DICK’S Sporting Goods during the 4th quarter valued at about $108,908,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of DICK’S Sporting Goods by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 402,025 shares of the sporting goods retailer’s stock worth $59,078,000 after purchasing an additional 3,414 shares during the period. 89.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at DICK’S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 4,910 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $222.02, for a total value of $1,090,118.20. Following the completion of the sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at approximately $3,664,218.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Stock Down 2.1 %

NYSE:DKS opened at $198.20 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.71 and a quick ratio of 0.65. The firm has a market cap of $16.15 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 2.35 and a beta of 1.65. The company has a 50-day moving average of $209.12 and a 200 day moving average of $186.63. DICK’S Sporting Goods, Inc. has a 1-year low of $100.98 and a 1-year high of $234.47.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings data 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. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.94 billion. DICK’S Sporting Goods had a net margin of 7.73% and a return on equity of 41.80%. DICK’S Sporting Goods’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company posted $3.40 earnings per share. As a group, research analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.76 EPS for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.22%. DICK’S Sporting Goods’s dividend payout ratio is presently 36.42%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Stifel Nicolaus lifted their price target on shares of DICK’S Sporting Goods from $215.00 to $232.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Morgan Stanley boosted their price target on DICK’S Sporting Goods from $235.00 to $245.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Robert W. Baird increased their target price on shares of DICK’S Sporting Goods from $225.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. raised their price objective on shares of DICK’S Sporting Goods from $197.00 to $211.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Finally, Barclays increased their price target on DICK’S Sporting Goods from $231.00 to $247.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $237.09.

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.