SG Americas Securities LLC boosted its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS – Free Report) by 19.8% during the first quarter, Holdings Channel.com reports. The firm owned 96,279 shares of the sporting goods retailer’s stock after buying an additional 15,928 shares during the quarter. SG Americas Securities LLC’s holdings in DICK’S Sporting Goods were worth $19,091,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of DICK’S Sporting Goods during the 4th quarter worth approximately $30,000. Clearstead Advisors LLC lifted its holdings in DICK’S Sporting Goods by 46.9% in the third quarter. Clearstead Advisors LLC now owns 144 shares of the sporting goods retailer’s stock valued at $32,000 after acquiring an additional 46 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new position in DICK’S Sporting Goods in the fourth quarter worth approximately $34,000. Elyxium Wealth LLC purchased a new position in DICK’S Sporting Goods in the fourth quarter worth approximately $35,000. Finally, SHP Wealth Management acquired a new stake in DICK’S Sporting Goods during the fourth quarter worth $38,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.
DICK’S Sporting Goods Stock Performance
Shares of DICK’S Sporting Goods stock opened at $237.44 on Friday. The business has a 50-day moving average of $223.66 and a 200 day moving average of $211.27. DICK’S Sporting Goods, Inc. has a 12 month low of $186.32 and a 12 month high of $244.38. The stock has a market capitalization of $21.25 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 2.07 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.50 and a quick ratio of 0.38.
DICK’S Sporting Goods Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a $1.25 dividend. The ex-dividend date is Friday, June 12th. This represents a $5.00 annualized dividend and a dividend yield of 2.1%. DICK’S Sporting Goods’s payout ratio is 47.53%.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on DKS shares. JPMorgan Chase & Co. upgraded DICK’S Sporting Goods from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $240.00 to $270.00 in a research report on Thursday, May 28th. Barclays increased their price target on DICK’S Sporting Goods from $264.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Morgan Stanley boosted their price objective on shares of DICK’S Sporting Goods from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. UBS Group reaffirmed a “buy” rating on shares of DICK’S Sporting Goods in a research report on Tuesday, March 3rd. Finally, Telsey Advisory Group increased their target price on shares of DICK’S Sporting Goods from $240.00 to $255.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, DICK’S Sporting Goods presently has an average rating of “Moderate Buy” and an average price target of $254.71.
Check Out Our Latest Research Report on DICK’S Sporting Goods
Insider Buying and Selling at DICK’S Sporting Goods
In other news, EVP Julie Lodge-Jarrett sold 4,140 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $223.56, for a total transaction of $925,538.40. Following the sale, the executive vice president owned 24,757 shares of the company’s stock, valued at approximately $5,534,674.92. This represents a 14.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Edward W. Stack sold 210,478 shares of the stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $197.69, for a total value of $41,609,395.82. Following the completion of the sale, the chairman owned 6,549,026 shares in the company, valued at approximately $1,294,676,949.94. The trade was a 3.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 28.91% of the company’s stock.
About DICK’S Sporting Goods
DICK’S Sporting Goods is a leading U.S.-based sporting goods retailer that sells a broad range of sports equipment, apparel, footwear and outdoor gear. The company operates an omnichannel business combining physical stores with digital sales, offering products for team sports, fitness, hunting and fishing, golf, and general active lifestyle categories. In addition to its flagship DICK’S stores, the company operates specialty formats such as Golf Galaxy and branded service offerings including team-sports sales and custom equipment solutions.
The company traces its roots to a single sporting goods outlet founded in 1948 and has since grown into a national retail chain serving customers across the United States.
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