Harel Insurance Investments & Financial Services Ltd. Takes Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,151 shares of the sporting goods retailer’s stock, valued at approximately $474,000.

Other hedge funds have also added to or reduced their stakes in the company. First Citizens Bank & Trust Co. raised its holdings in DICK’S Sporting Goods by 65.4% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,804 shares of the sporting goods retailer’s stock worth $388,000 after buying an additional 713 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of DICK’S Sporting Goods by 23.2% during the second quarter. Nisa Investment Advisors LLC now owns 13,541 shares of the sporting goods retailer’s stock worth $2,909,000 after acquiring an additional 2,550 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in DICK’S Sporting Goods by 2.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 22,167 shares of the sporting goods retailer’s stock valued at $4,763,000 after acquiring an additional 598 shares in the last quarter. Raymond James & Associates boosted its stake in DICK’S Sporting Goods by 6.1% in the 2nd quarter. Raymond James & Associates now owns 29,467 shares of the sporting goods retailer’s stock worth $6,331,000 after purchasing an additional 1,691 shares during the period. Finally, TCW Group Inc. boosted its stake in DICK’S Sporting Goods by 15.3% in the 2nd quarter. TCW Group Inc. now owns 373,982 shares of the sporting goods retailer’s stock worth $80,350,000 after purchasing an additional 49,654 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wedbush restated a “neutral” rating and issued a $230.00 price target on shares of DICK’S Sporting Goods in a report on Wednesday, June 5th. Telsey Advisory Group restated an “outperform” rating and issued a $245.00 target price on shares of DICK’S Sporting Goods in a research note on Wednesday, May 29th. Barclays lifted their price target on shares of DICK’S Sporting Goods from $231.00 to $247.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Truist Financial increased their price objective on shares of DICK’S Sporting Goods from $243.00 to $256.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, Robert W. Baird lifted their target price on DICK’S Sporting Goods from $225.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, DICK’S Sporting Goods presently has a consensus rating of “Moderate Buy” and an average price target of $236.05.

DICK’S Sporting Goods Stock Performance

DKS stock traded down $2.23 during trading hours on Tuesday, hitting $224.37. 166,476 shares of the stock were exchanged, compared to its average volume of 1,120,629. DICK’S Sporting Goods, Inc. has a 12 month low of $100.98 and a 12 month high of $234.47. The company has a current ratio of 1.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $18.28 billion, a P/E ratio of 18.76, a P/E/G ratio of 2.26 and a beta of 1.65. The company has a 50-day simple moving average of $212.42 and a two-hundred day simple moving average of $201.69.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Wednesday, May 29th. The sporting goods retailer reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.36. DICK’S Sporting Goods had a net margin of 7.73% and a return on equity of 41.80%. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the firm earned $3.40 earnings per share. DICK’S Sporting Goods’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts forecast that DICK’S Sporting Goods, Inc. will post 13.76 earnings per share for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $1.10 dividend. The ex-dividend date was Friday, June 14th. This represents a $4.40 annualized dividend and a yield of 1.96%. DICK’S Sporting Goods’s dividend payout ratio is presently 36.42%.

Insider Activity

In related news, Director Desiree Ralls-Morrison sold 3,489 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $206.65, for a total value of $721,001.85. Following the transaction, the director now owns 5,609 shares in the company, valued at $1,159,099.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 4,910 shares of the stock in a transaction dated 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 in the company, valued at $3,664,218.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Desiree Ralls-Morrison sold 3,489 shares of the stock in a transaction dated 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 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 sold 8,400 shares of company stock worth $1,811,336. 32.03% of the stock is currently owned by company insiders.

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.