State of New Jersey Common Pension Fund D Lowers Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

State of New Jersey Common Pension Fund D lowered its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 33.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,141 shares of the sporting goods retailer’s stock after selling 11,849 shares during the period. State of New Jersey Common Pension Fund D’s holdings in DICK’S Sporting Goods were worth $4,972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of DKS. Norges Bank bought a new position in DICK’S Sporting Goods during the 4th quarter worth about $108,908,000. Vanguard Group Inc. raised its position in DICK’S Sporting Goods by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 5,380,645 shares of the sporting goods retailer’s stock worth $1,209,892,000 after buying an additional 166,687 shares during the last quarter. Los Angeles Capital Management LLC raised its position in DICK’S Sporting Goods by 5,379.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 167,768 shares of the sporting goods retailer’s stock worth $37,724,000 after buying an additional 164,706 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in DICK’S Sporting Goods during the 4th quarter worth approximately $10,653,000. Finally, Teachers Retirement System of The State of Kentucky raised its position in DICK’S Sporting Goods by 87.0% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 118,192 shares of the sporting goods retailer’s stock worth $17,368,000 after buying an additional 55,000 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

DKS has been the subject of several recent research reports. Truist Financial lifted their target price on shares of DICK’S Sporting Goods from $243.00 to $256.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Barclays lifted their target price on shares of DICK’S Sporting Goods from $247.00 to $254.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Evercore ISI reaffirmed an “outperform” rating and set a $280.00 target price on shares of DICK’S Sporting Goods in a research note on Thursday, September 5th. Robert W. Baird reissued a “neutral” rating and set a $235.00 price target on shares of DICK’S Sporting Goods in a research report on Wednesday, August 28th. Finally, DA Davidson reissued a “buy” rating and set a $265.00 price target on shares of DICK’S Sporting Goods in a research report on Thursday, September 5th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, DICK’S Sporting Goods presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.62.

DICK’S Sporting Goods Stock Down 2.1 %

Shares of NYSE:DKS opened at $212.33 on Tuesday. The stock’s 50-day moving average price is $215.46 and its two-hundred day moving average price is $209.78. The company has a current ratio of 1.77, a quick ratio of 0.69 and a debt-to-equity ratio of 0.51. DICK’S Sporting Goods, Inc. has a 12-month low of $100.98 and a 12-month high of $239.30. The firm has a market cap of $17.30 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 2.39 and a beta of 1.64.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.60. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.44 billion. DICK’S Sporting Goods had a return on equity of 45.14% and a net margin of 8.46%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $2.82 EPS. On average, research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be given a $1.10 dividend. The ex-dividend date is Thursday, September 19th. This represents a $4.40 annualized dividend and a dividend yield of 2.07%. DICK’S Sporting Goods’s payout ratio is 36.42%.

Insider Transactions at DICK’S Sporting Goods

In other news, Director Desiree Ralls-Morrison sold 3,489 shares of DICK’S Sporting Goods stock in a transaction that occurred on Thursday, July 11th. The stock was 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 in the company, valued at approximately $1,159,099.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Profile

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.