Meeder Asset Management Inc. Has $167,000 Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Meeder Asset Management Inc. slashed its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) by 78.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,676 shares of the sporting goods retailer after selling 6,232 shares during the quarter. Meeder Asset Management Inc.’s interests in DICK’S Sporting Goods were valued at $167,000 at the time of the most recent filing with the Securities & Exchange Commission.

Several other hedge funds have recently changed their holdings in the company. Fox Run Management LLC purchased a new position in DICK’S Sporting Goods stock valued at approximately $251,000 during the first quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of DICK’S Sporting Goods by 15.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 5,309 shares of the sporting goods retailer, valued at $531,000, after buying another 727 shares last quarter. Principal Financial Group Inc. increased its position in shares of DICK’S Sporting Goods by 17.6% during the first quarter. Principal Financial Group Inc. now owns 276,491 shares of the sporting goods retailer, valued at $27,655,000, after purchasing an additional 41,376 shares last quarter. The Swiss National Bank increased its position in shares of DICK’S Sporting Goods by 4.1% in the first quarter. The Swiss National Bank now owns 148,700 shares of the sporting goods retailer, valued at $14,873,000, after buying another 5,900 shares last quarter. Finally, Duality Advisers LP increased its position in shares of DICK’S Sporting Goods by 124.1% during the first quarter. Duality Advisers LP now owns 31,820 shares of the sporting goods retailer, valued at $3,183,000, after purchasing an additional 17,620 shares last quarter. Institutional investors own 78.92% of the company’s shares.

Insider Activity

In addition, in a transaction dated Tuesday, May 31, Director William J. Colombo purchased 5,000 shares of DICK’S Sporting Goods. The stock was purchased at an average price of $80.99 per share for a total transaction of $404,950.00. Following the transaction, the Director now directly owns 162,003 shares of the Company, valued at $13,120,622.97. The purchase was disclosed in a document filed with the SEC, which is available on the SEC’s website. In related news, SVP John Edward Hayes III sold 1,200 shares of the company’s shares in a transaction on Thursday, May 26. The shares sold at an average price of $84.57 for a total value of $101,484.00. Following the closing of the transaction, the senior vice president now directly owns 34,231 shares of the company, valued at $2,894,915.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed at this hyperlink. In addition, Director William J. Colombo purchased 5,000 shares of the company’s stock in a transaction that took place on Tuesday, May 31st. The stock was purchased at an average price of $80.99 per share for a total value of $404,950.00. Upon completion of the transaction, the Director now directly owns 162,003 shares of the Company, valued at approximately $13,120,622.97. The disclosure for this purchase can be found here. Company insiders own 32.83% of the company’s shares.

Wall Street analysts forecast growth

Several equity analysts have commented on the stock. UBS Group lowered its target price on shares of DICK’S Sporting Goods to $85.00 in a research report on Thursday, May 26. Cowen raised his target price on shares of DICK’S Sporting Goods to $128.00 from $126.00 and gave the stock an outperform rating in a report on Wednesday. OTR Global upgraded shares of DICK’S Sporting Goods to a “positive” rating from a “mixed” rating in a report Wednesday. DA Davidson lowered its target price on shares of DICK’S Sporting Goods to $123.00 in a report on Thursday, May 26. Finally, Stifel Nicolaus raised his target price on shares of DICK’S Sporting Goods from $75.00 to $84.00 in a report on Wednesday, July 20. One equities research analyst has rated the stock with a sell rating, nine with a hold rating and nine with a buy rating. Based on data from MarketBeat.com, DICK’S Sporting Goods currently has a consensus rating of Hold and an average target price of $116.47.

DICK’S sporting goods inventory down 1.3%

DICK’s Sporting Goods stock opened at $111.05 on Friday. The company has a 50-day simple moving average of $89.12 and a 200-day simple moving average of $95.89. The company has a market cap of $8.94 billion, a price-to-earnings ratio of 8.58, a price-to-earnings ratio of 2.06 and a beta of 1.63. The company has a current ratio of 1.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89. 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 released its quarterly earnings results on Wednesday, May 25th. The sporting goods retailer reported earnings per share of $2.85 for the quarter, beating analysts’ consensus estimate of $2.43 by $0.42. The company had revenue of $2.70 billion in the quarter, compared to analyst estimates of $2.63 billion. DICK’S Sporting Goods had a net margin of 11.75% and a return on equity of 58.42%. The company’s revenue fell 7.5% year over year in the quarter. In the same period last year, the company earned $3.79 per share. On average, analysts are forecasting that DICK’S Sporting Goods, Inc. will report earnings per share of 10.78 for the current year.

DICK’S Sporting Goods announces dividend

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 per share. The ex-dividend date of this dividend was Thursday June 9th. That equates to a dividend of $1.95 on an annualized basis and a dividend yield of 1.76%. DICK’S Sporting Goods’ Dividend Payout Ratio (DPR) is currently 15.07%.

DICK’S sporting goods profile

(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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