Old Port Advisors Acquires Shares of 1,033 DICK’S Sporting Goods, Inc. (NYSE:DKS)

Old Port Advisors bought a new position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,033 shares of the sporting goods retailer’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Russell Investments Group Ltd. boosted its position in DICK’S Sporting Goods by 12.5% in the first quarter. Russell Investments Group Ltd. now owns 97,880 shares of the sporting goods retailer’s stock worth $22,009,000 after purchasing an additional 10,894 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of DICK’S Sporting Goods during the 1st quarter worth $7,690,000. SG Americas Securities LLC boosted its holdings in shares of DICK’S Sporting Goods by 65.5% in the 1st quarter. SG Americas Securities LLC now owns 9,792 shares of the sporting goods retailer’s stock worth $2,202,000 after buying an additional 3,875 shares during the last quarter. Principal Financial Group Inc. grew its position in DICK’S Sporting Goods by 5.5% during the second quarter. Principal Financial Group Inc. now owns 239,451 shares of the sporting goods retailer’s stock valued at $51,446,000 after buying an additional 12,396 shares during the period. Finally, Swedbank AB purchased a new stake in DICK’S Sporting Goods during the first quarter worth about $1,670,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Stock Down 1.5 %

DKS opened at $202.19 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 1.77 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $215.18 and its 200 day simple moving average is $210.68. DICK’S Sporting Goods, Inc. has a 52 week low of $102.25 and a 52 week high of $239.30. The stock has a market cap of $16.48 billion, a PE ratio of 16.74, a P/E/G ratio of 2.31 and a beta of 1.62.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings data on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.60. DICK’S Sporting Goods had a return on equity of 45.14% and a net margin of 8.46%. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.44 billion. During the same period last year, the firm posted $2.82 EPS. DICK’S Sporting Goods’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts expect that DICK’S Sporting Goods, Inc. will post 13.9 earnings per share for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 20th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Friday, September 20th. DICK’S Sporting Goods’s payout ratio is presently 36.42%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DKS. TD Cowen boosted their target price on shares of DICK’S Sporting Goods from $266.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Bank of America upped their price objective on DICK’S Sporting Goods from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. Loop Capital raised their target price on DICK’S Sporting Goods from $200.00 to $220.00 and gave the stock a “hold” rating in a research report on Thursday, September 5th. Wedbush reaffirmed a “neutral” rating and set a $250.00 price target on shares of DICK’S Sporting Goods in a research report on Thursday, September 5th. Finally, Citigroup decreased their price objective on DICK’S Sporting Goods from $243.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, DICK’S Sporting Goods presently has an average rating of “Moderate Buy” and an average target price of $244.62.

About DICK’S Sporting Goods

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.