Grimes & Company Inc. reduced its position in shares of Dick’s Sporting Goods Inc. (NYSE:DKS) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,385 shares of the sporting goods retailer’s stock after selling 487 shares during the period. Grimes & Company Inc.’s holdings in Dick’s Sporting Goods were worth $4,523,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Acrospire Investment Management LLC acquired a new position in shares of Dick’s Sporting Goods during the first quarter worth approximately $103,000. Creative Planning boosted its position in shares of Dick’s Sporting Goods by 84.3% in the second quarter. Creative Planning now owns 3,072 shares of the sporting goods retailer’s stock worth $138,000 after buying an additional 1,405 shares during the last quarter. Financial Architects Inc boosted its position in shares of Dick’s Sporting Goods by 1,517.1% in the second quarter. Financial Architects Inc now owns 3,412 shares of the sporting goods retailer’s stock worth $154,000 after buying an additional 3,201 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Dick’s Sporting Goods by 92.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,556 shares of the sporting goods retailer’s stock worth $213,000 after buying an additional 2,192 shares during the last quarter. Finally, JFS Wealth Advisors LLC boosted its position in shares of Dick’s Sporting Goods by 2,477.6% in the second quarter. JFS Wealth Advisors LLC now owns 6,212 shares of the sporting goods retailer’s stock worth $280,000 after buying an additional 5,971 shares during the last quarter. 72.16% of the stock is currently owned by institutional investors and hedge funds.

Shares of Dick’s Sporting Goods Inc. (NYSE:DKS) traded down 0.05% on Tuesday, hitting $60.80. The company had a trading volume of 975,688 shares. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 21.30 and a beta of 0.83. The stock’s 50-day moving average is $57.44 and its 200 day moving average is $48.32. Dick’s Sporting Goods Inc. has a 52 week low of $33.42 and a 52 week high of $61.61.

Dick’s Sporting Goods (NYSE:DKS) last issued its quarterly earnings data on Tuesday, August 16th. The sporting goods retailer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. Dick’s Sporting Goods had a return on equity of 18.43% and a net margin of 4.32%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts expect that Dick’s Sporting Goods Inc. will post $3.06 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be given a dividend of $0.1513 per share. This represents a $0.61 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, September 7th. Dick’s Sporting Goods’s payout ratio is currently 21.33%.

A number of research analysts have commented on the stock. B. Riley reiterated a “buy” rating and set a $61.00 price target on shares of Dick’s Sporting Goods in a research report on Friday, August 12th. RBC Capital Markets reiterated an “outperform” rating and set a $66.00 price target (up from $59.00) on shares of Dick’s Sporting Goods in a research report on Wednesday, August 17th. Guggenheim assumed coverage on shares of Dick’s Sporting Goods in a research report on Tuesday. They set a “neutral” rating on the stock. Cleveland Research upgraded shares of Dick’s Sporting Goods from a “neutral” rating to a “buy” rating and set a $59.00 price target on the stock in a research report on Friday, August 5th. Finally, Forward View Consulting set a $64.00 price target on shares of Dick’s Sporting Goods and gave the company a “buy” rating in a research report on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $59.09.

In related news, EVP Michele Willoughby sold 36,737 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $58.78, for a total transaction of $2,159,400.86. Following the sale, the executive vice president now owns 98,923 shares of the company’s stock, valued at $5,814,693.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 22.96% of the company’s stock.

About Dick’s Sporting Goods

DICK’S Sporting Goods, Inc is an omni-channel sporting goods retailer offering an assortment of sports equipment, apparel, footwear and accessories in its specialty retail stores in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, as well as e-commerce Websites at www.DICKS.com, www.golfgalaxy.com, www.fieldandstreamshop.com and www.caliastudio.com.

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