Allspring Global Investments Holdings LLC Trims Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Allspring Global Investments Holdings LLC lessened its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 42.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 35,586 shares of the sporting goods retailer’s stock after selling 26,720 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in DICK’S Sporting Goods were worth $7,646,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in DKS. Norges Bank purchased a new position in DICK’S Sporting Goods during the 4th quarter valued at about $108,908,000. Vanguard Group Inc. increased its position in DICK’S Sporting Goods by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 5,380,645 shares of the sporting goods retailer’s stock valued at $1,209,892,000 after purchasing an additional 166,687 shares during the period. Los Angeles Capital Management LLC increased its position in DICK’S Sporting Goods by 5,379.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 167,768 shares of the sporting goods retailer’s stock valued at $37,724,000 after purchasing an additional 164,706 shares during the period. International Assets Investment Management LLC purchased a new position in DICK’S Sporting Goods during the 4th quarter valued at about $19,219,000. Finally, Todd Asset Management LLC increased its position in DICK’S Sporting Goods by 129.6% during the 4th quarter. Todd Asset Management LLC now owns 144,050 shares of the sporting goods retailer’s stock valued at $21,168,000 after purchasing an additional 81,313 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Stock Up 0.8 %

DKS stock opened at $237.05 on Friday. The firm has a 50 day moving average of $214.34 and a 200 day moving average of $205.81. The stock has a market capitalization of $19.32 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 2.26 and a beta of 1.65. The company has a quick ratio of 0.65, a current ratio of 1.71 and a debt-to-equity ratio of 0.55. 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 announced its quarterly earnings data on Wednesday, May 29th. The sporting goods retailer reported $3.30 EPS for the quarter, beating the consensus estimate of $2.94 by $0.36. DICK’S Sporting Goods had a net margin of 7.73% and a return on equity of 41.80%. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the business posted $3.40 EPS. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. Sell-side analysts forecast that DICK’S Sporting Goods, Inc. will post 13.76 earnings per share for the current year.

Analysts Set New Price Targets

DKS has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of DICK’S Sporting Goods from $197.00 to $211.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. DA Davidson raised their target price on shares of DICK’S Sporting Goods from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Stifel Nicolaus raised their price target on shares of DICK’S Sporting Goods from $215.00 to $232.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Truist Financial raised their price target on shares of DICK’S Sporting Goods from $243.00 to $256.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Morgan Stanley raised their price target on shares of DICK’S Sporting Goods from $235.00 to $245.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $242.48.

Insider Buying and Selling at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, Director Desiree Ralls-Morrison sold 3,489 shares of DICK’S Sporting Goods stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $206.65, for a total transaction of $721,001.85. Following the completion of the sale, the director now directly owns 5,609 shares in the company, valued at approximately $1,159,099.85. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 32.03% of the company’s stock.

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.