Treasurer of the State of North Carolina Cuts Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

The North Carolina State Treasurer reduced its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) by 2.5% in the first quarter, according to the company in its recent 13F filing with the Securities and Exchange Commission (SEC). The company owned 22,227 shares of the sporting goods retailer after selling 560 shares during the period. The North Carolina State Treasurer’s interests in DICK’S Sporting Goods were valued at $2,223,000 at the time of the last SEC filing.

Other major investors have also changed their stakes in the company. Fifth Third Bancorp increased its holding in shares of DICK’S Sporting Goods by 62.0% during the first quarter. Fifth Third Bancorp now owns 264 shares of the sporting goods retailer, valued at $26,000, after purchasing an additional 101 shares during the period. South Dakota’s Sageworth Trust Co 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. HHM Wealth Advisors LLC acquired a new position in shares of DICK’S Sporting Goods valued at approximately $51,000 during the first quarter. Finally, Quent Capital LLC acquired a new position in shares of 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.

Insider Transactions at DICK’S Sporting Goods

In related news, Director William J. Colombo acquired 5,000 shares of the company in a transaction Tuesday, May 31. 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 owns 162,003 shares of the Company, valued at $13,120,622.97. The acquisition was disclosed in a filing with the SEC, which can be accessed at this hyperlink. In other news, Director William J. Colombo acquired 5,000 shares of DICK’S Sporting Goods in a transaction that took place Tuesday, May 31st. 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 purchase, the Director now directly owns 162,003 shares of the Company, valued at approximately $13,120,622.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed at this hyperlink. 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. Following the transaction, the senior vice president now owns 34,231 shares of the company, valued at $2,894,915.67. The disclosure for this sale can be found here. Company insiders own 32.83% of the company’s shares.

Analysts set new price targets

Several research analysts recently rated the stock. Barclays lowered its target price on shares of DICK’S Sporting Goods to $106.00 from $134.00 and ranked the stock an “overweight” in a report Thursday, May 26. Stifel Nicolaus raised his price target on shares of DICK’S Sporting Goods from $75.00 to $84.00 in a research report on Wednesday, July 20. Bank of America raised its target price on shares of DICK’S Sporting Goods to $125.00 from $105.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup lowered its target price on shares of 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. Finally, DA Davidson lowered its target price on shares of DICK’S Sporting Goods to $123.00 in a research report on Thursday, May 26. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target of $116.47.

DICK’S sporting goods inventory down 1.3%

DKS shares opened at $111.05 on Friday. DICK’S Sporting Goods, Inc. has a 12-month low of $63.45 and a 12-month high of $147.39. The company has a current ratio of 1.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89. The company has a market cap of $8.94 billion, a P/E of 8.58, a PEG ratio of 2.08, and a beta of 1.63. The company has a 50-day simple moving average of $89.12 and a 200-day simple moving average of $96.03.

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 analyst consensus estimates of $2.43 by $0.42. DICK’S Sporting Goods had a net margin of 11.75% and a return on equity of 58.42%. 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 generated earnings per share of $3.79. The company’s quarterly revenue declined 7.5% compared to the prior-year quarter. On average, stock analysts are forecasting that Dick’s Sporting Goods, Inc. will post earnings per share of $10.77 for the current fiscal year.

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

DICK’S Sporting Goods Company Profile

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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 equipment products; Clothing; and shoes and accessories.

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