State of Alaska Department of Revenue raised its stake in shares of Dicks Sporting Goods Inc (NYSE:DKS) by 51.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 11,718 shares of the sporting goods retailer’s stock after buying an additional 3,973 shares during the period. State of Alaska Department of Revenue’s holdings in Dicks Sporting Goods were worth $478,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Man Group plc increased its stake in shares of Dicks Sporting Goods by 82.1% in the 2nd quarter. Man Group plc now owns 76,455 shares of the sporting goods retailer’s stock valued at $2,647,000 after purchasing an additional 34,468 shares in the last quarter. GAM Holding AG boosted its holdings in Dicks Sporting Goods by 15.0% in the 2nd quarter. GAM Holding AG now owns 76,157 shares of the sporting goods retailer’s stock worth $2,637,000 after buying an additional 9,950 shares during the last quarter. Aperio Group LLC boosted its holdings in Dicks Sporting Goods by 15.0% in the 2nd quarter. Aperio Group LLC now owns 197,145 shares of the sporting goods retailer’s stock worth $6,827,000 after buying an additional 25,706 shares during the last quarter. ICM Asset Management Inc. WA boosted its holdings in Dicks Sporting Goods by 21.4% in the 2nd quarter. ICM Asset Management Inc. WA now owns 44,500 shares of the sporting goods retailer’s stock worth $1,541,000 after buying an additional 7,850 shares during the last quarter. Finally, Atria Investments LLC acquired a new stake in Dicks Sporting Goods in the 2nd quarter worth about $655,000. Institutional investors and hedge funds own 80.02% of the company’s stock.
Several equities research analysts recently issued reports on the company. Citigroup set a $37.00 price objective on Dicks Sporting Goods and gave the stock a “hold” rating in a report on Friday, August 23rd. Stifel Nicolaus boosted their target price on Dicks Sporting Goods from $34.00 to $38.00 and gave the stock a “hold” rating in a report on Wednesday, September 18th. Goldman Sachs Group assumed coverage on Dicks Sporting Goods in a report on Thursday, July 11th. They set a “neutral” rating and a $38.00 target price on the stock. UBS Group boosted their target price on Dicks Sporting Goods from $37.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Finally, Zacks Investment Research cut Dicks Sporting Goods from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $40.93.
Dicks Sporting Goods (NYSE:DKS) last issued its earnings results on Thursday, August 22nd. The sporting goods retailer reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.05. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Dicks Sporting Goods had a return on equity of 16.96% and a net margin of 3.64%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 EPS. Research analysts forecast that Dicks Sporting Goods Inc will post 3.38 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Thursday, September 12th. Dicks Sporting Goods’s payout ratio is presently 33.95%.
About Dicks Sporting Goods
Dick's Sporting Goods, Inc operates as a sporting goods retailer primarily in the eastern United States. It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories. The company also owns and operates Golf Galaxy, Field & Stream, and other specialty concept stores; and e-commerce Websites, as well as Dick's Team Sports HQ, a youth sports digital platform that offers free league management services, mobile apps, free league management services, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.
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