Oppenheimer & Co. Inc. Cuts Stock Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Oppenheimer & Co. Inc. cut its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 30.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,278 shares of the sporting goods retailer’s stock after selling 2,750 shares during the period. Oppenheimer & Co. Inc.’s holdings in DICK’S Sporting Goods were worth $1,310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in DICK’S Sporting Goods by 3.2% during the first quarter. Vanguard Group Inc. now owns 5,380,645 shares of the sporting goods retailer’s stock worth $1,209,892,000 after purchasing an additional 166,687 shares during the period. Renaissance Technologies LLC increased its stake in DICK’S Sporting Goods by 51.4% during the second quarter. Renaissance Technologies LLC now owns 1,106,341 shares of the sporting goods retailer’s stock worth $237,697,000 after purchasing an additional 375,600 shares during the period. Dimensional Fund Advisors LP increased its stake in DICK’S Sporting Goods by 15.1% during the second quarter. Dimensional Fund Advisors LP now owns 780,346 shares of the sporting goods retailer’s stock worth $167,683,000 after purchasing an additional 102,609 shares during the period. Bank of New York Mellon Corp increased its stake in DICK’S Sporting Goods by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 764,912 shares of the sporting goods retailer’s stock worth $164,341,000 after purchasing an additional 11,792 shares during the period. Finally, AQR Capital Management LLC increased its stake in DICK’S Sporting Goods by 40.2% during the second quarter. AQR Capital Management LLC now owns 545,045 shares of the sporting goods retailer’s stock worth $117,103,000 after purchasing an additional 156,227 shares during the period. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DKS has been the topic of a number of recent research reports. UBS Group upped their target price on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Evercore ISI reaffirmed an “outperform” rating and issued a $280.00 price target on shares of DICK’S Sporting Goods in a report on Thursday, September 5th. DA Davidson reaffirmed a “buy” rating and issued a $265.00 price target on shares of DICK’S Sporting Goods in a report on Thursday, September 5th. TD Cowen upped their price target on DICK’S Sporting Goods from $266.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Bank of America upped their price target on DICK’S Sporting Goods from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, DICK’S Sporting Goods presently has an average rating of “Moderate Buy” and a consensus price target of $244.62.

DICK’S Sporting Goods Price Performance

Shares of NYSE DKS opened at $200.48 on Tuesday. 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 fifty day moving average price of $206.50 and a 200 day moving average price of $210.43. DICK’S Sporting Goods, Inc. has a 1-year low of $117.71 and a 1-year high of $239.30. The company has a market cap of $16.32 billion, a PE ratio of 14.71, a P/E/G ratio of 2.25 and a beta of 1.64.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.60. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.44 billion. DICK’S Sporting Goods had a return on equity of 45.14% and a net margin of 8.46%. DICK’S Sporting Goods’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.82 earnings per share. Sell-side analysts forecast that DICK’S Sporting Goods, Inc. will post 13.91 EPS for the current year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 20th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.19%. The ex-dividend date was Friday, September 20th. DICK’S Sporting Goods’s payout ratio is 32.28%.

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.