DICK’S Sporting Goods, Inc. (NYSE:DKS) Shares Sold by Federated Hermes Inc.

March 14, 2023 Abraham Smith

Federated Hermes Inc. reduced its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) by 83.8% in the third quarter, according to its recent filing on Form 13F with the Securities & Exchange Commission. The institutional investor owned 8,895 shares of the sporting goods retailer after selling 46,033 shares during the quarter. Federated Hermes Inc.’s interests in DICK’S Sporting Goods were valued at $931,000 at the time of the last SEC filing.

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A number of other major investors have also changed their stakes in the company. Renaissance Technologies LLC increased its ownership interest in DICK’S Sporting Goods stock by 1,226.2% during the second quarter. Renaissance Technologies LLC now owns 1,209,479 shares of the sporting goods retailer valued at $91,158,000 after purchasing an additional 1,118,279 shares during the period. Samlyn Capital LLC increased its stake in DICK’S Sporting Goods by 179.0% in the third quarter. Samlyn Capital LLC now owns 1,179,258 shares of the sporting goods retailer valued at $123,397,000 after purchasing an additional 756,539 shares during the period. AQR Capital Management LLC increased its stake in DICK’S Sporting Goods by 155.1% during the second quarter. AQR Capital Management LLC now owns 636,689 shares of the sporting goods retailer valued at $47,446,000 after purchasing an additional 387,139 shares during the period. Wedge Capital Management LLP NC increased its stake in DICK’S Sporting Goods by 11,189.7% during the third quarter. Wedge Capital Management LLP NC now owns 348,739 shares of the sporting goods retailer valued at $36,492,000 after purchasing an additional 345,650 shares during the period. Finally, Millennium Management LLC increased its stake in DICK’S Sporting Goods by 255.8% during the second quarter. Millennium Management LLC now owns 413,996 shares of the sporting goods retailer valued at $31,203,000 after purchasing an additional 297,647 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s shares.

Analysts set new price targets

A number of research analysts have rated DKS stock. Cowen raised his price target on shares of DICK’S Sporting Goods to $166.00 from $155.00 in a research note on Monday, February 6. Cowen raised his target price on shares of DICK’S Sporting Goods from $150.00 to $155.00 in a research note on Wednesday, November 23. Evercore ISI increased its price target on shares of DICK’S Sporting Goods to $200.00 from $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 8th. Robert W. Baird increased his price target on shares of DICK’S Sporting Goods to $150.00 from $120.00 in a research report on Tuesday, March 7. Finally, Bank of America raised its price target for shares of DICK’S Sporting Goods to $170.00 from $145.00 and gave the stock a “buy” rating in a research report on Wednesday, March 8th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $155.32.

DICK’S sporting goods price history

DICK’s Sporting Goods stock opened Tuesday at $145.09. The company has a market cap of $11.49 billion, a P/E of 13.47, a price-to-earnings-to-growth ratio of 2.01 and a beta of 1.41. The company has a debt to equity ratio of 0.61, a quick ratio of 0.81 and a current ratio of 1.88. DICK’S Sporting Goods, Inc. has a yearly low of $63.45 and a yearly high of $152.61. The company has a 50-day moving average of $130.10 and a 200-day moving average of $118.37.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last issued its quarterly earnings data on Tuesday, March 7th. The sporting goods retailer reported $2.93 EPS for the quarter, beating the consensus estimate of $2.86 by $0.07. DICK’S Sporting Goods had a net margin of 8.43% and a return on equity of 45.97%. The company had revenue of $3.60 billion in the quarter, compared to analyst estimates of $3.45 billion. In the same period last year, the company earned $3.64 per share. The company’s revenue for the quarter increased 7.3% compared to the same quarter last year. As a group, analysts are forecasting that DICK’S Sporting Goods, Inc. will report earnings per share of $13.38 for the current fiscal year.

DICK’S Sporting Goods increases dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17 will receive a dividend of $1.00. The ex-dividend date of this dividend is Thursday March 16th. This is a positive change from DICK’S Sporting Goods’ prior quarterly dividend of $0.49. This equates to an annualized dividend of $4.00 and a dividend yield of 2.76%. DICK’S Sporting Goods’ payout percentage is currently 18.11%.

Insider buying and selling

In related news, EVP Vladimir Rak sold 29,144 shares of the company’s shares in a transaction on Wednesday, December 21st. The shares sold at an average price of $112.43 for a total value of $3,276,659.92. Following the sale, the Executive Vice President now directly owns 48,260 shares of the Company, valued at approximately $5,425,871.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission available at this link. Insiders own 32.83% of the company’s shares.

DICK’S sporting goods profile

(received rating)

Dick’s Sporting Goods, Inc retails an extensive line of authentic athletic equipment, apparel, footwear and accessories through a blend of associates, in-store services and unique shop-in-shops. The company was founded in 1948 by Richard T. Stack and is headquartered in Coraopolis, PA.

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