First Trust Advisors LP Lowers Stake in DICK’S Sporting Goods, Inc. $DKS

First Trust Advisors LP cut its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 16.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 307,925 shares of the sporting goods retailer’s stock after selling 61,316 shares during the quarter. First Trust Advisors LP owned about 0.38% of DICK’S Sporting Goods worth $68,427,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in DKS. Vanguard Group Inc. lifted its stake in shares of DICK’S Sporting Goods by 17.8% during the 3rd quarter. Vanguard Group Inc. now owns 6,719,011 shares of the sporting goods retailer’s stock worth $1,493,099,000 after purchasing an additional 1,015,599 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in DICK’S Sporting Goods by 58.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,423,102 shares of the sporting goods retailer’s stock valued at $316,224,000 after purchasing an additional 523,809 shares during the last quarter. Atreides Management LP purchased a new position in DICK’S Sporting Goods in the second quarter valued at about $172,715,000. Bank of New York Mellon Corp raised its holdings in DICK’S Sporting Goods by 13.1% in the third quarter. Bank of New York Mellon Corp now owns 699,747 shares of the sporting goods retailer’s stock worth $155,498,000 after purchasing an additional 81,239 shares in the last quarter. Finally, Norges Bank bought a new position in DICK’S Sporting Goods in the second quarter worth about $136,483,000. 89.83% of the stock is owned by institutional investors.

DICK’S Sporting Goods Stock Performance

DKS opened at $194.23 on Wednesday. The company has a market cap of $17.47 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 2.54 and a beta of 1.23. The company has a quick ratio of 0.37, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $206.18 and its 200-day moving average price is $214.71. DICK’S Sporting Goods, Inc. has a 52-week low of $166.37 and a 52-week high of $237.31.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $245.00 price target on shares of DICK’S Sporting Goods in a report on Monday. The Goldman Sachs Group reiterated a “buy” rating on shares of DICK’S Sporting Goods in a research note on Monday, January 5th. Wall Street Zen raised shares of DICK’S Sporting Goods from a “sell” rating to a “hold” rating in a research report on Sunday, January 25th. Morgan Stanley raised their target price on shares of DICK’S Sporting Goods from $253.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of DICK’S Sporting Goods in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $238.37.

About DICK’S Sporting Goods

DICK’S Sporting Goods is a leading U.S.-based sporting goods retailer that sells a broad range of sports equipment, apparel, footwear and outdoor gear. The company operates an omnichannel business combining physical stores with digital sales, offering products for team sports, fitness, hunting and fishing, golf, and general active lifestyle categories. In addition to its flagship DICK’S stores, the company operates specialty formats such as Golf Galaxy and branded service offerings including team-sports sales and custom equipment solutions.

The company traces its roots to a single sporting goods outlet founded in 1948 and has since grown into a national retail chain serving customers across the United States.