Lynx Investment Advisory Buys New Shares in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Lynx Investment Advisory bought a new stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,205 shares of the sporting goods retailer’s stock, valued at approximately $259,000.

A number of other hedge funds have also added to or reduced their stakes in DKS. Vanguard Group Inc. grew its position in shares of DICK’S Sporting Goods by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 5,380,645 shares of the sporting goods retailer’s stock valued at $1,209,892,000 after acquiring an additional 166,687 shares during the period. Victory Capital Management Inc. grew its position in shares of DICK’S Sporting Goods by 4.2% in the 4th quarter. Victory Capital Management Inc. now owns 2,334,018 shares of the sporting goods retailer’s stock valued at $342,984,000 after acquiring an additional 94,745 shares during the period. Dimensional Fund Advisors LP grew its position in shares of DICK’S Sporting Goods by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 807,203 shares of the sporting goods retailer’s stock valued at $118,621,000 after acquiring an additional 10,091 shares during the period. Norges Bank bought a new position in shares of DICK’S Sporting Goods in the 4th quarter valued at about $108,908,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of DICK’S Sporting Goods by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 402,025 shares of the sporting goods retailer’s stock worth $59,078,000 after buying an additional 3,414 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

Insider Activity at DICK’S Sporting Goods

In related news, Director Desiree Ralls-Morrison sold 3,489 shares of DICK’S Sporting Goods stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $206.65, for a total transaction of $721,001.85. Following the sale, the director now directly owns 5,609 shares of the company’s stock, valued at approximately $1,159,099.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 4,910 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $222.02, for a total transaction of $1,090,118.20. Following the sale, the executive vice president now directly owns 16,504 shares of the company’s stock, valued at approximately $3,664,218.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Desiree Ralls-Morrison sold 3,489 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $206.65, for a total transaction of $721,001.85. Following the sale, the director now directly owns 5,609 shares in the company, valued at $1,159,099.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,400 shares of company stock valued at $1,811,336. 32.03% of the stock is owned by insiders.

DICK’S Sporting Goods Price Performance

Shares of NYSE:DKS traded down $0.85 during midday trading on Tuesday, hitting $196.83. The stock had a trading volume of 1,220,901 shares, compared to its average volume of 1,143,260. The company has a market capitalization of $16.04 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 2.26 and a beta of 1.65. The company has a quick ratio of 0.65, a current ratio of 1.71 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average price is $213.90 and its 200-day moving average price is $197.85. DICK’S Sporting Goods, Inc. has a fifty-two week low of $100.98 and a fifty-two week high of $234.47.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Wednesday, May 29th. The sporting goods retailer reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.36. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.94 billion. DICK’S Sporting Goods had a net margin of 7.73% and a return on equity of 41.80%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.40 EPS. As a group, equities research analysts predict that DICK’S Sporting Goods, Inc. will post 13.76 EPS for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Friday, June 14th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 36.42%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on DKS shares. Barclays raised their target price on shares of DICK’S Sporting Goods from $231.00 to $247.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Bank of America upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their target price for the stock from $225.00 to $240.00 in a research note on Wednesday, May 29th. Telsey Advisory Group restated an “outperform” rating and set a $245.00 target price on shares of DICK’S Sporting Goods in a research note on Wednesday, May 29th. Gordon Haskett raised their target price on shares of DICK’S Sporting Goods from $190.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company lifted their price objective on shares of DICK’S Sporting Goods from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, DICK’S Sporting Goods currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.18.

DICK’S Sporting Goods Company 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.