PNC Financial Services Group Inc. Lowers Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

PNC Financial Services Group Inc. reduced its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,260 shares of the sporting goods retailer’s stock after selling 1,121 shares during the quarter. PNC Financial Services Group Inc.’s holdings in DICK’S Sporting Goods were worth $5,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. ICA Group Wealth Management LLC bought a new position in shares of DICK’S Sporting Goods during the second quarter worth $28,000. Covestor Ltd lifted its stake in 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 purchasing an additional 55 shares in the last quarter. Innealta Capital LLC bought a new position in shares of DICK’S Sporting Goods during the 2nd quarter valued at about $31,000. ORG Partners LLC purchased a new position in shares of DICK’S Sporting Goods during the second quarter valued at about $30,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of DICK’S Sporting Goods in the third quarter worth about $30,000. Institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Price Performance

DICK’S Sporting Goods stock opened at $210.16 on Friday. 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 market cap of $17.11 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 2.29 and a beta of 1.64. The firm has a 50-day moving average of $205.72 and a two-hundred day moving average of $210.31. DICK’S Sporting Goods, Inc. has a 1 year low of $119.84 and a 1 year high of $239.30.

DICK’S Sporting Goods (NYSE:DKS) last announced 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 company had revenue of $3.47 billion for 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 firm earned $2.82 earnings per share. On average, research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.91 earnings per share for the current year.

DICK’S Sporting Goods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 20th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $4.40 annualized dividend and a dividend yield of 2.09%. DICK’S Sporting Goods’s payout ratio is currently 32.28%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on DKS shares. Bank of America increased their price target on DICK’S Sporting Goods from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. Evercore ISI reissued an “outperform” rating and issued a $280.00 target price on shares of DICK’S Sporting Goods in a report on Thursday, September 5th. Barclays upped 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 note on Thursday, September 5th. DA Davidson reissued a “buy” rating and issued a $265.00 price objective on shares of DICK’S Sporting Goods in a research note on Thursday, September 5th. Finally, Robert W. Baird restated 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. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $244.62.

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.