Letko Brosseau & Associates Inc. Sells 14,890 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Letko Brosseau & Associates Inc. lowered its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 20.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,768 shares of the sporting goods retailer’s stock after selling 14,890 shares during the quarter. Letko Brosseau & Associates Inc. owned about 0.07% of DICK’S Sporting Goods worth $12,197,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in DICK’S Sporting Goods in the 1st quarter valued at $25,000. Covestor Ltd grew its position in shares of DICK’S Sporting Goods by 70.5% in the first quarter. Covestor Ltd now owns 133 shares of the sporting goods retailer’s stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of DICK’S Sporting Goods in the second quarter valued at about $30,000. Innealta Capital LLC bought a new position in shares of DICK’S Sporting Goods in the second quarter worth about $31,000. Finally, Versant Capital Management Inc lifted its position in shares of DICK’S Sporting Goods by 222.6% during the 2nd quarter. Versant Capital Management Inc now owns 171 shares of the sporting goods retailer’s stock worth $37,000 after purchasing an additional 118 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Price Performance

Shares of DKS traded down $6.79 during trading hours on Friday, hitting $208.04. The stock had a trading volume of 1,295,318 shares, compared to its average volume of 1,133,918. The stock has a market capitalization of $16.95 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 2.59 and a beta of 1.64. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.71 and a quick ratio of 0.65. The company’s fifty day moving average is $214.27 and its two-hundred day moving average is $207.70. DICK’S Sporting Goods, Inc. has a 52 week low of $100.98 and a 52 week high of $239.30.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.60. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.44 billion. DICK’S Sporting Goods had a net margin of 7.73% and a return on equity of 41.80%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.82 earnings per share. On average, analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.8 EPS for the current year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, September 19th. DICK’S Sporting Goods’s payout ratio is presently 36.42%.

Insider Activity

In related news, Director Desiree Ralls-Morrison sold 3,489 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $206.65, for a total transaction of $721,001.85. Following the transaction, the director now owns 5,609 shares in the company, valued at approximately $1,159,099.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 32.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on DKS. Citigroup dropped their price target on DICK’S Sporting Goods from $243.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday. Wells Fargo & Company cut their target price on shares of DICK’S Sporting Goods from $230.00 to $227.00 and set an “equal weight” rating for the company in a research note on Monday, August 12th. Truist Financial raised their price target on shares of DICK’S Sporting Goods from $243.00 to $256.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Robert W. Baird reaffirmed a “neutral” rating and set a $235.00 price objective on shares of DICK’S Sporting Goods in a research report on Wednesday, August 28th. Finally, UBS Group lifted their target price on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $244.43.

DICK’S Sporting Goods Profile

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.