DICK’S Sporting Goods, Inc. (NYSE:DKS) Shares Purchased by Principal Financial Group Inc.

August 17, 2022 Abraham Smith

DICK'S sporting goods logo Principal Financial Group Inc. increased its ownership of DICK’S Sporting Goods, Inc. (NYSE: DKS – Get Rating) stock by 17.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 276,491 shares of the sporting goods retailer after purchasing an additional 41,376 shares during the quarter. At the end of the most recent quarter, Principal Financial Group Inc. owned 0.32% of DICK’S Sporting Goods valued at $27,655,000.

Other hedge funds have also recently changed their positions in the company. Fifth Third Bancorp increased its position in shares of DICK’S Sporting Goods by 62.0% in the first quarter. Fifth Third Bancorp now owns 264 shares of the $26,000 sporting goods retailer after acquiring an additional 101 shares last quarter. Sageworth Trust Co of South Dakota acquired a new position in DICK’S Sporting Goods stock valued at approximately $44,000 during the fourth quarter. Covestor Ltd acquired a new position in shares of DICK’S Sporting Goods valued at approximately $48,000 during the fourth quarter. Quent Capital LLC acquired a new position in shares of DICK’S Sporting Goods valued at approximately $57,000 during the fourth quarter. Finally, HHM Wealth Advisors LLC acquired a new position in shares of DICK’S Sporting Goods valued at approximately $51,000 during the first quarter. Institutional investors and hedge funds own 78.92% of the company’s shares.

Analyst upgrades and downgrades

DKS has been the subject of several research reports. Stephens lowered its target price on DICK’S Sporting Goods to $102.00 in a research report on Monday, May 30. Bank of America lowered its target price on DICK’S Sporting Goods to $130.00 from $160.00 and gave the company a buy rating in a research report on Tuesday, May 24. Wedbush lowered its price target for DICK’S Sporting Goods from $140.00 to $110.00 in a research report on Thursday, May 26. The Telsey Advisory Group lowered its target price on DICK’S Sporting Goods from $125.00 to $110.00 and gave the company an Outperform rating in a research report on Thursday, May 26. Finally, Gordon Haskett upgraded DICK’s Sporting Goods from a reduce rating to a hold rating in a research report Thursday, May 26, with a price target of $78.00 for the company. One research analyst has rated the stock with a sell rating, nine with a hold rating and eight with a buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $117.94.

DICK’S sporting goods inventory increased by 5.0%

DICK’S Sporting Goods shares opened at $112.85 on Wednesday. The company’s 50-day moving average price is $87.17 and its 200-day moving average price is $95.99. The company has a debt to equity ratio of 0.89, a current ratio of 1.88 and a quick ratio of 0.87. The company has a market cap of $9.09 billion, a P/E of 8.72, a PEG ratio of 1.99, and a beta of 1.63. DICK’S Sporting Goods, Inc. has a 1 year low of $63.45 and a 1 year high of $147.39.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last announced its earnings results on Wednesday, May 25th. The sporting goods retailer reported earnings per share of $2.85 for the quarter, beating the consensus estimate of $2.43 by $0.42. DICK’S Sporting Goods had a return on equity of 58.42% and a net margin of 11.75%. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.63 billion. In the same quarter last year, the company earned $3.79 per share. The company’s revenue fell 7.5% year over year in the quarter. As a group, research analysts are forecasting that DICK’S Sporting Goods, Inc. will post 10.77 EPS for the year to date.

DICK’S Sporting Goods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Friday, June 10 received a dividend of $0.488. That equates to a dividend of $1.95 on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Thursday June 9th. The payout ratio of DICK’S Sporting Goods is currently 15.07%.

Insider Transactions at DICK’S Sporting Goods

In other news, Director William J. Colombo acquired 5,000 shares of the company’s shares in a transaction Tuesday, May 31. The shares were purchased at an average price of $80.99 per share for a total value of $404,950.00. Following the purchase, the Director now owns 162,003 shares of the Company, valued at $13,120,622.97. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. In other news, Director William J. Colombo acquired 5,000 shares of the company’s shares in a transaction Tuesday, May 31. The shares were purchased at an average price of $80.99 per share for a total value of $404,950.00. Following the purchase, the Director now owns 162,003 shares of the Company, valued at $13,120,622.97. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. Also on Thursday, May 26, SVP John Edward Hayes III sold 1,200 shares of the company’s shares in a transaction. The stock sold at an average price of $84.57 for a total value of $101,484.00. Upon completion of the sale, the senior vice president now directly owns 34,231 shares of the company, valued at approximately $2,894,915.67. The disclosure for this sale can be found here. Company insiders own 32.83% of the company’s shares.

About DICK’S sporting goods

(get rating)

DICK’S Sporting Goods, Inc, along with its subsidiaries, operates as a sporting goods retailer primarily in the eastern United States. The Company offers hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; Clothing; and shoes and accessories.

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