Los Angeles Capital Management LLC Lowers Stock Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Los Angeles Capital Management LLC decreased its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) by 98.1% during the first quarter, the company said in its most recent filing with the Securities & Exchange Commission. The fund owned 2,474 shares of the sporting goods retailer after selling 125,151 shares during the quarter. Los Angeles Capital Management LLC’s holdings in DICK’S Sporting Goods were worth $247,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors recently changed their positions in the stock. Geode Capital Management LLC increased its holding in shares of DICK’S Sporting Goods by 17.0% during the fourth quarter. Geode Capital Management LLC now owns 1,088,733 shares of the sporting goods retailer worth $125,197,000 after purchasing an additional 158,201 shares last quarter. Renaissance Technologies LLC increased its position in DICK’S Sporting Goods by 9.8% in the fourth quarter. Renaissance Technologies LLC now owns 423,818 shares of the sporting goods retailer’s stock valued at $48,735,000 after purchasing an additional 37,818 shares during the period. Wedge Capital Management LLP NC increased its position in DICK’S Sporting Goods by 1.3% during the first quarter. Wedge Capital Management LLP NC now owns 367,425 shares of the sporting goods retailer valued at $36,750,000 after purchasing an additional 4,875 shares during the period. TCW Group Inc. increased its position in DICK’S Sporting Goods by 19.1% in the first quarter. TCW Group Inc. now owns 359,570 shares of the sporting goods retailer valued at $35,964,000 after purchasing an additional 57,747 shares during the period. Finally, during the fourth quarter, HS Management Partners LLC acquired a new interest in DICK’S Sporting Goods valued at approximately $34,787,000. Hedge funds and other institutional investors own 78.92% of the company’s shares.

DICK’S sporting goods inventory increased by 5.0%

DKS stock opened at $112.85 on Wednesday. The stock 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. The company has a debt to equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 1.88. DICK’s Sporting Goods, Inc. has a yearly low of $63.45 and a yearly high of $147.39. The company has a 50-day moving average price of $87.17 and a 200-day moving average price of $95.99.

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

DICK’S Sporting Goods announces dividend

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

Analysts set new price targets

A number of equities research analysts recently commented on the stock. Citigroup lowered its target price on shares of DICK’S Sporting Goods from $170.00 to $132.00 and gave the company a buy rating in a research report on Thursday, May 26. Stephens reduced his target price on shares of DICK’S Sporting Goods to $102.00 in a research report on Monday, May 30. Barclays has lowered its target price on shares of DICK’S Sporting Goods from $134.00 to $106.00 and ranked the company as “overweight” in a research report on Thursday, May 26. Gordon Haskett upgraded shares of DICK’S Sporting Goods to a hold from a “reduce” rating and put a price target for the company of $78.00 in a research report on Thursday, May. Finally, the Telsey Advisory Group lowered its target price on shares of DICK’S Sporting Goods from $125.00 to $110.00 and gave the company a “Outperform” rating in a research report on Thursday, May 26. One research analyst has rated the stock with a sell rating, nine with a hold rating and eight with a buy rating. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $117.94.

insider activity

Also on Thursday, May 26, SVP John Edward Hayes III sold 1,200 shares of the company’s shares in a transaction. The shares sold at an average price of $84.57 for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news from DICK’S Sporting Goods, Director William J. Colombo purchased 5,000 shares of DICK’S Sporting Goods in a transaction that took place Tuesday, May 31st. The shares were acquired at an average price of $80.99 per share for a total transaction of $404,950.00. Following the acquisition, the Director now owns 162,003 shares of the Company, valued at approximately $13,120,622.97. The acquisition was disclosed in a filing with the SEC available at this link. Also on Thursday, May 26, SVP John Edward Hayes III sold 1,200 shares of DICK’S Sporting Goods in a transaction. The shares sold at an average price of $84.57 for a total transaction of $101,484.00. Following the transaction, the senior vice president now 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

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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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