Frank Rimerman Advisors LLC Grows Stock Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Frank Rimerman Advisors LLC lifted its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 32.4% during the third quarter, Holdings Channel reports. The institutional investor owned 1,317 shares of the sporting goods retailer’s stock after acquiring an additional 322 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in DICK’S Sporting Goods were worth $275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. ICA Group Wealth Management LLC purchased a new stake in DICK’S Sporting Goods in the 2nd quarter worth approximately $28,000. Covestor Ltd grew its position in DICK’S Sporting Goods by 70.5% during the first quarter. Covestor Ltd now owns 133 shares of the sporting goods retailer’s stock valued at $30,000 after buying an additional 55 shares during the period. ORG Partners LLC purchased a new position in DICK’S Sporting Goods in the second quarter valued at $30,000. ORG Wealth Partners LLC acquired a new position in shares of DICK’S Sporting Goods in the third quarter worth about $30,000. Finally, Innealta Capital LLC purchased a new stake in shares of DICK’S Sporting Goods during the 2nd quarter worth about $31,000. 89.83% of the stock is owned by institutional investors and hedge funds.

DICK’S Sporting Goods Stock Up 0.5 %

Shares of NYSE:DKS opened at $205.29 on Tuesday. DICK’S Sporting Goods, Inc. has a 52-week low of $102.25 and a 52-week high of $239.30. The stock has a market cap of $16.73 billion, a P/E ratio of 16.99, a PEG ratio of 2.31 and a beta of 1.62. The business has a fifty day moving average of $215.63 and a two-hundred day moving average of $210.68. The company has a quick ratio of 0.69, a current ratio of 1.77 and a debt-to-equity ratio of 0.51.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.60. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.44 billion. DICK’S Sporting Goods had a net margin of 8.46% and a return on equity of 45.14%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.82 EPS. On average, research analysts expect that DICK’S Sporting Goods, Inc. will post 13.9 earnings per share for the current year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 20th were paid a dividend of $1.10 per share. The ex-dividend date was Friday, September 20th. This represents a $4.40 dividend on an annualized basis and a yield of 2.14%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 36.42%.

Wall Street Analyst Weigh In

DKS has been the subject of several recent analyst reports. UBS Group lifted their price target on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Loop Capital upped their target price on DICK’S Sporting Goods from $200.00 to $220.00 and gave the stock a “hold” rating in a research note on Thursday, September 5th. Robert W. Baird reissued a “neutral” rating and issued a $235.00 price target on shares of DICK’S Sporting Goods in a research note on Wednesday, August 28th. Citigroup reduced their price objective on shares of DICK’S Sporting Goods from $243.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, Telsey Advisory Group boosted their target price on shares of DICK’S Sporting Goods from $255.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.62.

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.