Bank of America Corp DE lessened its stake in Dicks Sporting Goods Inc (NYSE:DKS) by 10.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 483,540 shares of the sporting goods retailer’s stock after selling 59,089 shares during the period. Bank of America Corp DE’s holdings in Dicks Sporting Goods were worth $17,045,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in DKS. Bridgewater Associates LP bought a new position in Dicks Sporting Goods in the 2nd quarter valued at about $201,000. P.A.W. Capital Corp bought a new position in shares of Dicks Sporting Goods during the 2nd quarter valued at about $212,000. Suntrust Banks Inc. bought a new position in shares of Dicks Sporting Goods during the 1st quarter valued at about $214,000. Commerzbank Aktiengesellschaft FI bought a new position in shares of Dicks Sporting Goods during the 2nd quarter valued at about $230,000. Finally, Unison Advisors LLC bought a new position in shares of Dicks Sporting Goods during the 2nd quarter valued at about $280,000. Hedge funds and other institutional investors own 73.44% of the company’s stock.
Several equities analysts have recently weighed in on DKS shares. ValuEngine lowered shares of Dicks Sporting Goods from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd. Zacks Investment Research upgraded shares of Dicks Sporting Goods from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Monday, July 16th. OTR Global upgraded shares of Dicks Sporting Goods to a “positive” rating in a research report on Wednesday, August 15th. Wedbush raised their price objective on shares of Dicks Sporting Goods from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Tuesday, August 21st. Finally, Cowen raised their price objective on shares of Dicks Sporting Goods from $37.00 to $42.00 and gave the company a “hold” rating in a research report on Thursday, August 23rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Dicks Sporting Goods has an average rating of “Hold” and a consensus price target of $36.38.
Shares of DKS opened at $33.20 on Monday. Dicks Sporting Goods Inc has a one year low of $23.88 and a one year high of $39.74. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 1.61 and a beta of 0.38. The company has a quick ratio of 0.24, a current ratio of 1.53 and a debt-to-equity ratio of 0.09.
Dicks Sporting Goods (NYSE:DKS) last announced its earnings results on Wednesday, August 29th. The sporting goods retailer reported $1.20 EPS for the quarter, topping the consensus estimate of $1.06 by $0.14. Dicks Sporting Goods had a net margin of 3.82% and a return on equity of 17.72%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the company posted $0.96 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts anticipate that Dicks Sporting Goods Inc will post 3.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Thursday, September 13th. Dicks Sporting Goods’s payout ratio is 29.90%.
Dicks Sporting Goods Profile
Dick's Sporting Goods, Inc operates as a sporting goods retailer primarily in the eastern United States. It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories. The company also owns and operates Golf Galaxy, Field & Stream, and other specialty concept stores; and e-commerce Websites, as well as Dick's Team Sports HQ, a youth sports digital platform that offers free league management services, mobile apps for scheduling, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.
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