Diversified Investment Strategies LLC Increases Position in Dick’s Sporting Goods Inc (DKS)
Diversified Investment Strategies LLC boosted its stake in shares of Dick’s Sporting Goods Inc (NYSE:DKS) by 11.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,275 shares of the sporting goods retailer’s stock after buying an additional 7,675 shares during the period. Dick’s Sporting Goods accounts for approximately 3.0% of Diversified Investment Strategies LLC’s portfolio, making the stock its 13th largest position. Diversified Investment Strategies LLC owned approximately 0.07% of Dick’s Sporting Goods worth $3,078,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in DKS. BlackRock Inc. raised its position in shares of Dick’s Sporting Goods by 2,879.3% in the first quarter. BlackRock Inc. now owns 8,515,919 shares of the sporting goods retailer’s stock valued at $414,382,000 after buying an additional 8,230,087 shares in the last quarter. OZ Management LP acquired a new stake in shares of Dick’s Sporting Goods during the first quarter valued at $86,412,000. Renaissance Technologies LLC increased its stake in shares of Dick’s Sporting Goods by 424.3% in the first quarter. Renaissance Technologies LLC now owns 2,054,600 shares of the sporting goods retailer’s stock valued at $99,977,000 after buying an additional 1,662,700 shares in the last quarter. SRS Investment Management LLC acquired a new stake in shares of Dick’s Sporting Goods during the first quarter valued at $72,194,000. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Dick’s Sporting Goods by 342.8% in the first quarter. TIAA CREF Investment Management LLC now owns 1,548,807 shares of the sporting goods retailer’s stock valued at $75,365,000 after buying an additional 1,199,058 shares in the last quarter. Hedge funds and other institutional investors own 75.54% of the company’s stock.
Dick’s Sporting Goods Inc (NYSE:DKS) traded down 1.06% during trading on Wednesday, reaching $26.24. The company had a trading volume of 269,080 shares. Dick’s Sporting Goods Inc has a 52-week low of $25.94 and a 52-week high of $62.88. The firm has a market capitalization of $2.87 billion, a P/E ratio of 9.42 and a beta of 0.47. The company has a 50-day moving average of $34.27 and a 200-day moving average of $43.36.
Dick’s Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, August 15th. The sporting goods retailer reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by $0.04. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Dick’s Sporting Goods had a return on equity of 19.09% and a net margin of 3.74%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 earnings per share. Analysts expect that Dick’s Sporting Goods Inc will post $2.90 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.56%. Dick’s Sporting Goods’s dividend payout ratio is 24.29%.
DKS has been the subject of a number of research reports. Bank of America Corporation reaffirmed a “buy” rating and set a $55.00 target price (down previously from $65.00) on shares of Dick’s Sporting Goods in a report on Wednesday, May 17th. Wedbush reiterated an “outperform” rating and set a $68.00 price target on shares of Dick’s Sporting Goods in a research report on Sunday, May 14th. Canaccord Genuity reiterated a “buy” rating and set a $52.00 price target on shares of Dick’s Sporting Goods in a research report on Friday, July 21st. Telsey Advisory Group cut Dick’s Sporting Goods from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $52.00 to $40.00 in a research report on Monday, July 24th. Finally, BMO Capital Markets set a $62.00 price objective on Dick’s Sporting Goods and gave the company a “buy” rating in a research report on Thursday, July 6th. Four research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $41.64.
In other news, Director William J. Colombo purchased 20,000 shares of Dick’s Sporting Goods stock in a transaction dated Tuesday, August 22nd. The shares were bought at an average cost of $26.25 per share, with a total value of $525,000.00. Following the completion of the transaction, the director now directly owns 323,224 shares in the company, valued at approximately $8,484,630. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 23.09% 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 primarily in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, and Dick’s Team Sports HQ, an all-in-one youth sports digital platform offering free league management services, mobile applications for scheduling, communications and live scorekeeping, custom uniforms and FanWear and access to donations and sponsorships.
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