The Manufacturers Life Insurance Company Has $61.43 Million Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

The Manufacturers Life Insurance Company grew its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 17.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 285,923 shares of the sporting goods retailer’s stock after buying an additional 42,556 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in DICK’S Sporting Goods were worth $61,431,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. ICA Group Wealth Management LLC bought a new stake in DICK’S Sporting Goods during the second quarter worth $28,000. Covestor Ltd grew its stake in shares of DICK’S Sporting Goods by 70.5% in the 1st quarter. Covestor Ltd now owns 133 shares of the sporting goods retailer’s stock worth $30,000 after acquiring an additional 55 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of DICK’S Sporting Goods in the second quarter valued at about $30,000. Innealta Capital LLC bought a new position in shares of DICK’S Sporting Goods during the second quarter valued at about $31,000. Finally, Richardson Financial Services Inc. purchased a new position in DICK’S Sporting Goods during the second quarter worth about $34,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DKS. Loop Capital boosted their price objective on DICK’S Sporting Goods from $200.00 to $220.00 and gave the stock a “hold” rating in a research report on Thursday, September 5th. Evercore ISI restated an “outperform” rating and set a $280.00 price target on shares of DICK’S Sporting Goods in a research report on Thursday, September 5th. Barclays lifted their price objective on shares of DICK’S Sporting Goods from $247.00 to $254.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Robert W. Baird reissued a “neutral” rating and set a $235.00 target price on shares of DICK’S Sporting Goods in a research report on Wednesday, August 28th. Finally, Wells Fargo & Company lowered their price target on shares of DICK’S Sporting Goods from $230.00 to $227.00 and set an “equal weight” rating on the stock in a report on Monday, August 12th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, DICK’S Sporting Goods has a consensus rating of “Moderate Buy” and a consensus target price of $244.62.

DICK’S Sporting Goods Stock Performance

NYSE DKS opened at $209.14 on Friday. The company’s 50 day simple moving average is $215.69 and its two-hundred day simple moving average is $211.66. The stock has a market capitalization of $17.04 billion, a PE ratio of 17.31, a P/E/G ratio of 2.45 and a beta of 1.64. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 0.69. 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 posted its quarterly earnings data on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.60. DICK’S Sporting Goods had a return on equity of 45.14% and a net margin of 8.46%. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter last year, the company earned $2.82 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts predict that DICK’S Sporting Goods, Inc. will post 13.9 earnings per share for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $4.40 annualized dividend and a yield of 2.10%. DICK’S Sporting Goods’s payout ratio is presently 36.42%.

Insiders Place Their Bets

In related news, Director Desiree Ralls-Morrison sold 3,489 shares of the company’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 directly owns 5,609 shares in the company, valued at $1,159,099.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.