Fifth Third Bancorp Has $175,000 Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Fifth Third Bancorp increased its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 22.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 816 shares of the sporting goods retailer’s stock after purchasing an additional 152 shares during the period. Fifth Third Bancorp’s holdings in DICK’S Sporting Goods were worth $175,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC acquired a new position in shares of DICK’S Sporting Goods in the 2nd quarter worth approximately $405,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in DICK’S Sporting Goods in the second quarter valued at $474,000. First Citizens Bank & Trust Co. raised its stake in DICK’S Sporting Goods by 65.4% during the second quarter. First Citizens Bank & Trust Co. now owns 1,804 shares of the sporting goods retailer’s stock worth $388,000 after acquiring an additional 713 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of DICK’S Sporting Goods by 23.2% during the second quarter. Nisa Investment Advisors LLC now owns 13,541 shares of the sporting goods retailer’s stock valued at $2,909,000 after acquiring an additional 2,550 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of DICK’S Sporting Goods by 2.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 22,167 shares of the sporting goods retailer’s stock valued at $4,763,000 after purchasing an additional 598 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

Insider Buying and Selling at DICK’S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 4,910 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $222.02, for a total transaction of $1,090,118.20. Following the completion of the transaction, the executive vice president now directly owns 16,504 shares in the company, valued at approximately $3,664,218.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Desiree Ralls-Morrison sold 3,489 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $206.65, for a total value of $721,001.85. Following the completion of the transaction, the director now owns 5,609 shares of the company’s stock, valued at approximately $1,159,099.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the executive vice president now directly owns 16,504 shares in the company, valued at approximately $3,664,218.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,400 shares of company stock valued at $1,811,336. 32.03% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of DICK’S Sporting Goods from $235.00 to $245.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Truist Financial raised their price objective on shares of DICK’S Sporting Goods from $243.00 to $256.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. DA Davidson boosted their target price on DICK’S Sporting Goods from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Wedbush reaffirmed a “neutral” rating and set a $230.00 price target on shares of DICK’S Sporting Goods in a report on Wednesday, June 5th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $245.00 price objective on shares of DICK’S Sporting Goods in a research report on Wednesday, May 29th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $240.57.

DICK’S Sporting Goods Stock Up 1.7 %

Shares of NYSE DKS opened at $239.18 on Friday. The company has a current ratio of 1.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $19.49 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 2.26 and a beta of 1.65. The firm’s 50-day moving average is $213.57 and its 200-day moving average is $203.21. DICK’S Sporting Goods, Inc. has a 1 year low of $100.98 and a 1 year high of $239.30.

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

DICK’S Sporting Goods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $1.10 dividend. The ex-dividend date was Friday, June 14th. This represents a $4.40 dividend on an annualized basis and a yield of 1.84%. DICK’S Sporting Goods’s dividend payout ratio is presently 36.42%.

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.