Advisors Asset Management Inc. Sells 972 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Advisors Asset Management Inc. lessened its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 9.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,855 shares of the sporting goods retailer’s stock after selling 972 shares during the period. Advisors Asset Management Inc.’s holdings in DICK’S Sporting Goods were worth $1,991,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DKS. Freestone Capital Holdings LLC purchased a new stake in shares of DICK’S Sporting Goods during the 1st quarter valued at about $228,000. Delap Wealth Advisory LLC purchased a new stake in DICK’S Sporting Goods in the 1st quarter worth about $327,000. Shell Asset Management Co. purchased a new stake in DICK’S Sporting Goods in the 1st quarter worth about $478,000. Burns Matteson Capital Management LLC purchased a new stake in DICK’S Sporting Goods in the 1st quarter worth about $547,000. Finally, Boulder Hill Capital Management LP raised its position in DICK’S Sporting Goods by 9.1% in the 1st quarter. Boulder Hill Capital Management LP now owns 16,800 shares of the sporting goods retailer’s stock worth $3,778,000 after purchasing an additional 1,400 shares during the period. Institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Stock Up 3.1 %

Shares of NYSE:DKS opened at $208.93 on Friday. The company’s fifty day moving average is $211.78 and its two-hundred day moving average is $194.39. The stock has a market capitalization of $17.03 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 2.29 and a beta of 1.65. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.65 and a current ratio of 1.71. DICK’S Sporting Goods, Inc. has a 1-year low of $100.98 and a 1-year high of $234.47.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Wednesday, May 29th. The sporting goods retailer reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.36. DICK’S Sporting Goods had a net margin of 7.73% and a return on equity of 41.80%. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the company earned $3.40 EPS. DICK’S Sporting Goods’s revenue was up 6.2% on a year-over-year basis. Equities analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.76 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.11%. DICK’S Sporting Goods’s dividend payout ratio is currently 36.42%.

Insider Buying and Selling

In other news, EVP Julie Lodge-Jarrett sold 4,910 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $222.02, for a total value of $1,090,118.20. Following the sale, the executive vice president now owns 16,504 shares in the company, valued at $3,664,218.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Desiree Ralls-Morrison sold 3,489 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $206.65, for a total value of $721,001.85. Following the completion of the sale, the director now directly owns 5,609 shares in the company, valued at $1,159,099.85. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Julie Lodge-Jarrett sold 4,910 shares of DICK’S Sporting Goods stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $222.02, for a total value of $1,090,118.20. Following the completion of the sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at $3,664,218.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,400 shares of company stock worth $1,811,336. Insiders own 32.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DKS. Barclays raised their target price on shares of DICK’S Sporting Goods from $231.00 to $247.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Gordon Haskett boosted their target price on shares of DICK’S Sporting Goods from $190.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, April 8th. TD Cowen boosted their target price on shares of DICK’S Sporting Goods from $224.00 to $266.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Morgan Stanley upped their price objective on shares of DICK’S Sporting Goods from $235.00 to $245.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, Citigroup upped their price objective on shares of DICK’S Sporting Goods from $220.00 to $230.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, DICK’S Sporting Goods currently has an average rating of “Moderate Buy” and a consensus target price of $237.09.

About DICK’S Sporting Goods

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.