Alpha Paradigm Partners LLC Takes Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Alpha Paradigm Partners LLC purchased a new stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,190 shares of the sporting goods retailer’s stock, valued at approximately $320,000.

Other institutional investors have also made changes to their positions in the company. Cypress Point Wealth Management LLC purchased a new position in shares of DICK’S Sporting Goods in the 2nd quarter valued at about $25,000. Ameritas Investment Company LLC purchased a new position in shares of DICK’S Sporting Goods in the 1st quarter valued at about $33,000. Tradition Wealth Management LLC purchased a new position in shares of DICK’S Sporting Goods in the 1st quarter valued at about $38,000. TCTC Holdings LLC increased its stake in shares of DICK’S Sporting Goods by 104.1% in the 1st quarter. TCTC Holdings LLC now owns 645 shares of the sporting goods retailer’s stock valued at $49,000 after purchasing an additional 329 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of DICK’S Sporting Goods by 38.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 642 shares of the sporting goods retailer’s stock valued at $49,000 after purchasing an additional 179 shares in the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Several brokerages recently weighed in on DKS. Wells Fargo & Company began coverage on DICK’S Sporting Goods in a research note on Wednesday, August 11th. They issued an “equal weight” rating for the company. Raymond James upgraded DICK’S Sporting Goods from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 26th. Stifel Nicolaus upped their price target on DICK’S Sporting Goods from $98.00 to $126.00 and gave the company a “hold” rating in a research report on Thursday, August 26th. Zacks Investment Research upgraded DICK’S Sporting Goods from a “hold” rating to a “strong-buy” rating and set a $136.00 price target for the company in a research report on Wednesday, October 6th. Finally, Morgan Stanley upped their price objective on DICK’S Sporting Goods from $120.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, August 26th. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, DICK’S Sporting Goods presently has an average rating of “Buy” and an average price target of $125.35.

In related news, EVP Vladimir Rak sold 10,011 shares of the stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $145.08, for a total value of $1,452,395.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John Edward Hayes III sold 2,379 shares of the stock in a transaction on Thursday, August 26th. The shares were sold at an average price of $131.00, for a total value of $311,649.00. The disclosure for this sale can be found here. Insiders sold 68,123 shares of company stock worth $9,468,718 in the last three months. 30.09% of the stock is currently owned by corporate insiders.

DICK’S Sporting Goods stock opened at $119.94 on Thursday. DICK’S Sporting Goods, Inc. has a twelve month low of $50.88 and a twelve month high of $147.39. The stock’s fifty day simple moving average is $124.40 and its 200-day simple moving average is $103.51. The company has a current ratio of 1.72, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $10.63 billion, a P/E ratio of 10.00, a P/E/G ratio of 0.84 and a beta of 1.74.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings data on Tuesday, August 24th. The sporting goods retailer reported $5.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $2.28. DICK’S Sporting Goods had a return on equity of 50.69% and a net margin of 10.69%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the company earned $3.21 earnings per share. The company’s revenue was up 20.8% on a year-over-year basis. Sell-side analysts predict that DICK’S Sporting Goods, Inc. will post 12.47 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 24th. Investors of record on Friday, September 10th were issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Thursday, September 9th. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $0.36. DICK’S Sporting Goods’s dividend payout ratio is 28.59%.

DICK’S Sporting Goods Profile

Dick’s Sporting Goods, Inc engages in the retail of extensive assortment of authentic sports equipment, apparel, footwear, and accessories through a blend of associates, in-store services, and unique specialty shop-in-shops. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.

Further Reading: Average Daily Trade Volume Explained

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Institutional Ownership by Quarter for DICK`S Sporting Goods (NYSE:DKS)

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