Wells Fargo & Company MN lifted its stake in shares of Dicks Sporting Goods Inc (NYSE:DKS) by 15.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 662,126 shares of the sporting goods retailer’s stock after acquiring an additional 87,671 shares during the period. Wells Fargo & Company MN owned 0.61% of Dicks Sporting Goods worth $17,884,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Dicks Sporting Goods by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 6,802,340 shares of the sporting goods retailer’s stock valued at $270,937,000 after acquiring an additional 135,991 shares during the period. TIAA CREF Investment Management LLC raised its holdings in Dicks Sporting Goods by 263.8% during the second quarter. TIAA CREF Investment Management LLC now owns 5,634,221 shares of the sporting goods retailer’s stock worth $224,411,000 after buying an additional 4,085,414 shares during the last quarter. Northern Trust Corp raised its holdings in Dicks Sporting Goods by 54.6% during the second quarter. Northern Trust Corp now owns 3,791,180 shares of the sporting goods retailer’s stock worth $151,003,000 after buying an additional 1,339,379 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Dicks Sporting Goods by 10.7% during the second quarter. Bank of New York Mellon Corp now owns 1,828,157 shares of the sporting goods retailer’s stock worth $72,815,000 after buying an additional 176,439 shares during the last quarter. Finally, Manning & Napier Advisors LLC raised its holdings in Dicks Sporting Goods by 16.2% during the third quarter. Manning & Napier Advisors LLC now owns 1,213,325 shares of the sporting goods retailer’s stock worth $32,771,000 after buying an additional 169,370 shares during the last quarter. Institutional investors own 72.81% of the company’s stock.
DKS has been the topic of several research reports. BMO Capital Markets restated an “outperform” rating on shares of Dicks Sporting Goods in a report on Thursday, September 14th. Cowen restated a “hold” rating and set a $28.00 price objective on shares of Dicks Sporting Goods in a report on Thursday, September 28th. Wells Fargo & Co set a $29.00 price objective on shares of Dicks Sporting Goods and gave the stock a “hold” rating in a report on Wednesday, October 11th. Wolfe Research downgraded shares of Dicks Sporting Goods from a “peer perform” rating to an “underperform” rating and set a $20.00 price objective on the stock. in a report on Wednesday, November 1st. Finally, OTR Global downgraded shares of Dicks Sporting Goods to a “neutral” rating in a report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and eight have issued a buy rating to the company. Dicks Sporting Goods presently has an average rating of “Hold” and a consensus price target of $32.60.
Dicks Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Tuesday, November 14th. The sporting goods retailer reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.90 billion. Dicks Sporting Goods had a net margin of 3.54% and a return on equity of 17.95%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 earnings per share. equities analysts forecast that Dicks Sporting Goods Inc will post 2.97 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 8th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, December 7th. This represents a $0.68 annualized dividend and a yield of 2.09%. Dicks Sporting Goods’s payout ratio is currently 25.09%.
About Dicks 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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