Foster & Motley Inc. Cuts Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Foster & Motley Inc. cut its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,315 shares of the sporting goods retailer’s stock after selling 480 shares during the period. Foster & Motley Inc.’s holdings in DICK’S Sporting Goods were worth $8,622,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. ICA Group Wealth Management LLC acquired a new stake in DICK’S Sporting Goods during the 2nd quarter worth about $28,000. Covestor Ltd raised its stake in shares of DICK’S Sporting Goods by 70.5% in the first quarter. Covestor Ltd now owns 133 shares of the sporting goods retailer’s stock worth $30,000 after purchasing an additional 55 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of DICK’S Sporting Goods during the second quarter worth about $30,000. ORG Wealth Partners LLC acquired a new position in DICK’S Sporting Goods in the 3rd quarter worth approximately $30,000. Finally, Innealta Capital LLC purchased a new position in DICK’S Sporting Goods during the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Trading Down 0.6 %

Shares of DKS stock opened at $197.00 on Wednesday. DICK’S Sporting Goods, Inc. has a fifty-two week low of $110.07 and a fifty-two week high of $239.30. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.69 and a current ratio of 1.77. The stock’s fifty day moving average is $211.25 and its two-hundred day moving average is $210.68. The firm has a market capitalization of $16.04 billion, a P/E ratio of 14.53, a PEG ratio of 2.20 and a beta of 1.64.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.60. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.44 billion. DICK’S Sporting Goods had a net margin of 8.46% and a return on equity of 45.14%. DICK’S Sporting Goods’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.82 earnings per share. Research analysts expect that DICK’S Sporting Goods, Inc. will post 13.9 earnings per share for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 20th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $4.40 annualized dividend and a dividend yield of 2.23%. DICK’S Sporting Goods’s dividend payout ratio is presently 32.28%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DKS. Citigroup cut their price objective on shares of DICK’S Sporting Goods from $243.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Loop Capital boosted their price objective on DICK’S Sporting Goods from $200.00 to $220.00 and gave the company a “hold” rating in a report on Thursday, September 5th. Evercore ISI reaffirmed an “outperform” rating and set a $280.00 target price on shares of DICK’S Sporting Goods in a report on Thursday, September 5th. Bank of America boosted their price target on DICK’S Sporting Goods from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Finally, Wedbush reaffirmed a “neutral” rating and set a $250.00 target price on shares of DICK’S Sporting Goods in a report on Thursday, September 5th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $244.62.

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.