Allspring Global Investments Holdings LLC Trims Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Allspring Global Investments Holdings LLC trimmed its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 22.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 27,565 shares of the sporting goods retailer’s stock after selling 8,021 shares during the period. Allspring Global Investments Holdings LLC’s holdings in DICK’S Sporting Goods were worth $5,753,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Renaissance Technologies LLC grew its stake in DICK’S Sporting Goods by 51.4% in 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 in the last quarter. Vanguard Group Inc. lifted its stake in DICK’S Sporting Goods by 3.2% in 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 acquiring an additional 166,687 shares during the period. AQR Capital Management LLC grew its holdings in DICK’S Sporting Goods by 40.2% during the 2nd quarter. AQR Capital Management LLC now owns 545,045 shares of the sporting goods retailer’s stock worth $117,103,000 after acquiring an additional 156,227 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of DICK’S Sporting Goods by 65.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 278,338 shares of the sporting goods retailer’s stock valued at $59,801,000 after purchasing an additional 110,570 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of DICK’S Sporting Goods by 15.1% in the 2nd 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. Institutional investors own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on DKS shares. Evercore ISI reaffirmed an “outperform” rating and set a $280.00 target price on shares of DICK’S Sporting Goods in a research report on Thursday, September 5th. Loop Capital lifted their target price on DICK’S Sporting Goods from $200.00 to $220.00 and gave the company a “hold” rating in a research note on Thursday, September 5th. Barclays increased their price target on shares of DICK’S Sporting Goods from $247.00 to $254.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Citigroup cut their price objective on shares of DICK’S Sporting Goods from $243.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Finally, Wells Fargo & Company cut 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. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, DICK’S Sporting Goods currently has a consensus rating of “Moderate Buy” and an average target price of $244.62.

DICK’S Sporting Goods Price Performance

Shares of NYSE DKS opened at $204.37 on Monday. DICK’S Sporting Goods, Inc. has a 52 week low of $100.98 and a 52 week high of $239.30. The company has a quick ratio of 0.69, a current ratio of 1.77 and a debt-to-equity ratio of 0.51. The firm has a market cap of $16.65 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.31 and a beta of 1.62. The business’s 50 day moving average price is $216.06 and its 200 day moving average price is $210.70.

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 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 net margin of 8.46% and a return on equity of 45.14%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.82 earnings per share. On average, sell-side analysts expect that DICK’S Sporting Goods, Inc. will post 13.9 earnings per share for the current year.

DICK’S Sporting Goods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 20th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Friday, September 20th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 36.42%.

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.