Envestnet Asset Management Inc. Grows Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Envestnet Asset Management Inc. increased its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 50.3% during the 2nd quarter, Holdings Channel reports. The firm owned 103,200 shares of the sporting goods retailer’s stock after purchasing an additional 34,532 shares during the quarter. Envestnet Asset Management Inc.’s holdings in DICK’S Sporting Goods were worth $22,173,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd raised its position in DICK’S Sporting Goods by 70.5% in the first quarter. Covestor Ltd now owns 133 shares of the sporting goods retailer’s stock worth $30,000 after acquiring an additional 55 shares during the period. Innealta Capital LLC bought a new stake in DICK’S Sporting Goods in the second quarter worth about $31,000. ORG Partners LLC bought a new stake in DICK’S Sporting Goods in the second quarter worth about $30,000. Versant Capital Management Inc raised its position in DICK’S Sporting Goods by 222.6% in the second quarter. Versant Capital Management Inc now owns 171 shares of the sporting goods retailer’s stock worth $37,000 after acquiring an additional 118 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in DICK’S Sporting Goods in the second quarter worth about $43,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

DICK’S Sporting Goods Price Performance

DKS stock opened at $212.52 on Monday. The firm has a 50 day simple moving average of $215.89 and a two-hundred day simple moving average of $210.70. DICK’S Sporting Goods, Inc. has a one year low of $100.98 and a one year high of $239.30. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 0.69. The stock has a market cap of $17.32 billion, a PE ratio of 17.59, a P/E/G ratio of 2.39 and a beta of 1.64.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.60. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.44 billion. DICK’S Sporting Goods had a net margin of 8.46% and a return on equity of 45.14%. DICK’S Sporting Goods’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.82 earnings per share. On average, analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal 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 issued a dividend of $1.10 per share. The ex-dividend date is Friday, September 20th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.07%. DICK’S Sporting Goods’s dividend payout ratio is currently 36.42%.

Insider Transactions at DICK’S Sporting Goods

In other news, Director Desiree Ralls-Morrison sold 3,489 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $206.65, for a total transaction of $721,001.85. Following the completion of the sale, the director now directly owns 5,609 shares in the company, valued at $1,159,099.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 32.03% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on DKS. Bank of America lifted their price objective on shares of DICK’S Sporting Goods from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Oppenheimer boosted their price target on shares of DICK’S Sporting Goods from $240.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Telsey Advisory Group boosted their price target on shares of DICK’S Sporting Goods from $255.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. TD Cowen boosted their price target on shares of DICK’S Sporting Goods from $266.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Wedbush reissued a “neutral” rating and issued a $250.00 price target on shares of DICK’S Sporting Goods in a research report on Thursday, September 5th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $244.62.

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.