JPMorgan Chase & Co. Reduces Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

JPMorgan Chase & Co. trimmed its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 22.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 620,919 shares of the sporting goods retailer’s stock after selling 184,085 shares during the quarter. JPMorgan Chase & Co.’s holdings in DICK’S Sporting Goods were worth $129,586,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DKS. Retirement Systems of Alabama raised its stake in shares of DICK’S Sporting Goods by 13.3% during the 3rd quarter. Retirement Systems of Alabama now owns 126,800 shares of the sporting goods retailer’s stock worth $26,463,000 after buying an additional 14,934 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of DICK’S Sporting Goods by 47.3% in the third quarter. Tidal Investments LLC now owns 7,597 shares of the sporting goods retailer’s stock valued at $1,585,000 after purchasing an additional 2,441 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of DICK’S Sporting Goods in the third quarter valued at about $140,000. World Investment Advisors LLC acquired a new stake in shares of DICK’S Sporting Goods in the third quarter valued at approximately $211,000. Finally, Toronto Dominion Bank increased its stake in shares of DICK’S Sporting Goods by 29.1% during the 3rd quarter. Toronto Dominion Bank now owns 7,322 shares of the sporting goods retailer’s stock worth $1,528,000 after purchasing an additional 1,650 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

DICK’S Sporting Goods Stock Performance

NYSE DKS opened at $228.84 on Thursday. The business’s 50-day simple moving average is $210.94 and its 200-day simple moving average is $212.99. The firm has a market capitalization of $18.64 billion, a P/E ratio of 16.36, a P/E/G ratio of 2.52 and a beta of 1.61. DICK’S Sporting Goods, Inc. has a 1-year low of $137.06 and a 1-year high of $239.30. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.07. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.03 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.85 earnings per share. Equities analysts predict that DICK’S Sporting Goods, Inc. will post 13.88 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Friday, December 13th. DICK’S Sporting Goods’s dividend payout ratio is presently 31.45%.

Wall Street Analyst Weigh In

DKS has been the topic of a number of analyst reports. Bank of America increased their target price 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. Barclays lifted their price objective on 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. DA Davidson restated a “buy” rating and issued a $265.00 target price on shares of DICK’S Sporting Goods in a report on Thursday, September 5th. Truist Financial lifted their price target on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Evercore ISI reissued an “outperform” rating and set a $280.00 price objective on shares of DICK’S Sporting Goods in a research note on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, DICK’S Sporting Goods currently has an average rating of “Moderate Buy” and a consensus price target of $244.95.

DICK’S Sporting Goods Company 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.