Sumitomo Mitsui Trust Group Inc. Purchases 15,591 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 12.2% during the third quarter, Holdings Channel reports. The institutional investor owned 143,056 shares of the sporting goods retailer’s stock after acquiring an additional 15,591 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in DICK’S Sporting Goods were worth $29,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in DKS. Vanguard Group Inc. increased its stake in DICK’S Sporting Goods by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,380,645 shares of the sporting goods retailer’s stock valued at $1,209,892,000 after acquiring an additional 166,687 shares during the period. Renaissance Technologies LLC boosted its holdings in DICK’S Sporting Goods by 51.4% during the second quarter. Renaissance Technologies LLC now owns 1,106,341 shares of the sporting goods retailer’s stock valued at $237,697,000 after purchasing an additional 375,600 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of DICK’S Sporting Goods by 15.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 780,346 shares of the sporting goods retailer’s stock valued at $167,683,000 after purchasing an additional 102,609 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of DICK’S Sporting Goods by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 764,912 shares of the sporting goods retailer’s stock worth $164,341,000 after buying an additional 11,792 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of DICK’S Sporting Goods by 40.2% during the 2nd quarter. AQR Capital Management LLC now owns 545,045 shares of the sporting goods retailer’s stock worth $117,103,000 after buying an additional 156,227 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

DICK’S Sporting Goods Stock Performance

Shares of DICK’S Sporting Goods stock opened at $198.25 on Friday. DICK’S Sporting Goods, Inc. has a 52 week low of $114.82 and a 52 week high of $239.30. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.69 and a current ratio of 1.77. The stock has a market capitalization of $16.14 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 2.24 and a beta of 1.64. The firm has a fifty day moving average of $206.64 and a two-hundred day moving average of $210.33.

DICK’S Sporting Goods (NYSE:DKS) last released its earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 45.14% and a net margin of 8.46%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.82 earnings per share. As a group, equities research analysts predict that DICK’S Sporting Goods, Inc. will post 13.9 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 20th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Friday, September 20th. DICK’S Sporting Goods’s dividend payout ratio is currently 32.28%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DKS shares. JPMorgan Chase & Co. increased their price objective on DICK’S Sporting Goods from $211.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Evercore ISI reiterated an “outperform” rating and set a $280.00 target price on shares of DICK’S Sporting Goods in a research report on Thursday, September 5th. DA Davidson restated a “buy” rating and issued a $265.00 price target on shares of DICK’S Sporting Goods in a research report on Thursday, September 5th. Robert W. Baird reaffirmed a “neutral” rating and set a $235.00 price objective on shares of DICK’S Sporting Goods in a report on Wednesday, August 28th. Finally, Loop Capital boosted their target price on DICK’S Sporting Goods from $200.00 to $220.00 and gave the stock a “hold” rating 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $244.62.

DICK’S Sporting Goods Company 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.