Swiss National Bank Increases Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

August 17, 2022 Abraham Smith

DICK'S sporting goods logo The Swiss National Bank increased its position in DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) by 4.1% in the first quarter, the company said in its latest disclosure to the Securities & Exchange Commission. The fund owned 148,700 shares of the sporting goods retailer after buying an additional 5,900 shares during the quarter. The Swiss National Bank owned approximately 0.17% of DICK’S Sporting Goods valued at $14,873,000 at the time of its most recent SEC filing.

Several other institutional investors recently changed their holdings in the company. Fifth Third Bancorp increased its position in 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. South Dakota’s Sageworth Trust Co acquired a new position in DICK’S Sporting Goods valued at approximately $44,000 during the fourth quarter. Covestor Ltd acquired a new position in DICK’S Sporting Goods valued at approximately $48,000 during the fourth quarter. HHM Wealth Advisors LLC acquired a new position in DICK’S Sporting Goods valued at approximately $51,000 during the first quarter. Finally, Quent Capital LLC acquired a new position in DICK’S Sporting Goods valued at approximately $57,000 during the fourth quarter. 78.92% of the shares are currently owned by hedge funds and other institutional investors.

Insiders place their bets

In other news from DICK’S Sporting Goods, SVP John Edward Hayes III sold 1,200 shares of the company’s stock in a transaction on Thursday, May 26. The stock 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 $2,894,915.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed at this link. In other news from DICK’S Sporting Goods, on Tuesday, May 31, Director William J. Colombo bought 5,000 shares of DICK’S Sporting Goods in one transaction. The shares were purchased at an average price of $80.99 per share for a total transaction of $404,950.00. Upon completion of 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. 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 value of $101,484.00. Following the closing of the sale, 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. 32.83% of the shares are currently owned by company insiders.

DICK’S Sporting Goods Stock Performance

NYSE:DKS shares opened at $112.85 on Wednesday. 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’s 50-day moving average price is $87.17 and its 200-day moving average price is $95.99. The company has a market cap of $9.09 billion, a P/E of 8.72, a P/E 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 issued its quarterly earnings data on Wednesday, May 25th. The sporting goods retailer reported earnings per share of $2.85 for the quarter, beating analyst consensus estimates 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 return on equity of 58.42% and a net margin of 11.75%. The company’s revenue for the quarter declined 7.5% compared to the same quarter last year. In the same quarter last year, the company posted earnings per share of $3.79. As a group, equity analysts expect Dick’s Sporting Goods, Inc. to report fiscal year-to-date earnings per share of 10.77.

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. That equates to an annual dividend of $1.95 and a yield of 1.73%. The ex-dividend date of this dividend was Thursday June 9th. DICK’S Sporting Goods’ Dividend Payout Ratio (DPR) is currently 15.07%.

Wall Street analysts are weighing

DKS has been the subject of several recent research reports. Citigroup lowered its target price on DICK’S Sporting Goods to $132.00 from $170.00 and gave the company a buy rating in a research report on Thursday, May 26. Stifel Nicolaus increased his price target on DICK’S Sporting Goods to $84.00 from $75.00 in a report on Wednesday, July 20. Barclays lowered its target price on DICK’S Sporting Goods to $106.00 from $134.00 and gave the stock an “overweight” rating in a report Thursday, May 26. The Telsey Advisory Group lowered its target price on DICK’S Sporting Goods to $110.00 from $125.00 and gave the stock a “Outperform” rating in a report dated Thursday, May 26. Finally, UBS Group lowered its target price on DICK’S Sporting Goods to $85.00 in a report on Thursday, May 26. One analyst has rated the stock with a sell rating, nine with a hold rating and eight with a buy rating. According to MarketBeat, DICK’S Sporting Goods currently has an average rating of Hold and an average price target of $117.94.

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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