Eastern Bank Purchases New Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Eastern Bank acquired a new position in DICK’S Sporting Goods, Inc. (NYSE:DKS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,280 shares of the sporting goods retailer’s stock, valued at approximately $267,000.

Several other institutional investors have also recently made changes to their positions in DKS. Signaturefd LLC increased its stake in shares of DICK’S Sporting Goods by 13.3% in the 3rd quarter. Signaturefd LLC now owns 979 shares of the sporting goods retailer’s stock valued at $204,000 after purchasing an additional 115 shares in the last quarter. Copeland Capital Management LLC increased its position in shares of DICK’S Sporting Goods by 2.0% in the third quarter. Copeland Capital Management LLC now owns 166,973 shares of the sporting goods retailer’s stock valued at $34,847,000 after buying an additional 3,285 shares in the last quarter. Vest Financial LLC raised its stake in shares of DICK’S Sporting Goods by 46.6% during the 3rd quarter. Vest Financial LLC now owns 7,066 shares of the sporting goods retailer’s stock worth $1,475,000 after buying an additional 2,247 shares during the period. OLD National Bancorp IN lifted its position in shares of DICK’S Sporting Goods by 5.8% during the 3rd quarter. OLD National Bancorp IN now owns 1,903 shares of the sporting goods retailer’s stock valued at $397,000 after buying an additional 105 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its stake in DICK’S Sporting Goods by 5.7% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,907 shares of the sporting goods retailer’s stock valued at $398,000 after acquiring an additional 103 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DKS has been the topic of several recent analyst reports. Telsey Advisory Group increased their price objective on shares of DICK’S Sporting Goods from $255.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Robert W. Baird reiterated a “neutral” rating and issued a $235.00 price objective on shares of DICK’S Sporting Goods in a report on Wednesday, August 28th. UBS Group increased their target price on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Loop Capital lifted their price target on DICK’S Sporting Goods from $200.00 to $220.00 and gave the stock a “hold” rating in a research note on Thursday, September 5th. Finally, TD Cowen increased their price objective on 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. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.62.

DICK’S Sporting Goods Price Performance

NYSE:DKS opened at $204.47 on Friday. The company has a market capitalization of $16.66 billion, a P/E ratio of 16.93, a P/E/G ratio of 2.31 and a beta of 1.62. The company has a quick ratio of 0.69, a current ratio of 1.77 and a debt-to-equity ratio of 0.51. DICK’S Sporting Goods, Inc. has a 52 week low of $100.98 and a 52 week high of $239.30. The stock’s fifty day moving average is $216.46 and its two-hundred day moving average is $210.66.

DICK’S Sporting Goods (NYSE:DKS) last posted its 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. DICK’S Sporting Goods had a net margin of 8.46% and a return on equity of 45.14%. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter in the prior year, the company posted $2.82 earnings per share. DICK’S Sporting Goods’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts expect that DICK’S Sporting Goods, Inc. will post 13.9 EPS for the current year.

DICK’S Sporting Goods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders 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 2.15%. The ex-dividend date of this dividend was Friday, September 20th. DICK’S Sporting Goods’s payout ratio is 36.42%.

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.