MAI Capital Management Trims Stock Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

MAI Capital Management lowered its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,641 shares of the sporting goods retailer’s stock after selling 531 shares during the quarter. MAI Capital Management’s holdings in DICK’S Sporting Goods were worth $1,803,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Renaissance Technologies LLC increased its stake in DICK’S Sporting Goods by 51.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,106,341 shares of the sporting goods retailer’s stock worth $237,697,000 after buying an additional 375,600 shares during the period. Dimensional Fund Advisors LP raised its position 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 worth $167,683,000 after acquiring an additional 102,609 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of DICK’S Sporting Goods by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 764,912 shares of the sporting goods retailer’s stock valued at $164,341,000 after buying an additional 11,792 shares during the last quarter. AQR Capital Management LLC grew its position in shares of DICK’S Sporting Goods by 40.2% in 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 last quarter. Finally, TCW Group Inc. raised its stake in shares of DICK’S Sporting Goods by 15.3% during the 2nd quarter. TCW Group Inc. now owns 373,982 shares of the sporting goods retailer’s stock worth $80,350,000 after acquiring an additional 49,654 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Stock Performance

Shares of NYSE DKS opened at $194.18 on Thursday. DICK’S Sporting Goods, Inc. has a 1 year low of $119.84 and a 1 year 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 company’s fifty day moving average price is $206.07 and its 200 day moving average price is $210.29. The company has a market capitalization of $15.81 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 2.25 and a beta of 1.64.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings data 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 business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.44 billion. DICK’S Sporting Goods had a return on equity of 45.14% and a net margin of 8.46%. The business’s revenue 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, research analysts predict that DICK’S Sporting Goods, Inc. will post 13.91 earnings per share for the current year.

DICK’S Sporting Goods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 20th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.27%. DICK’S Sporting Goods’s dividend payout ratio is currently 32.28%.

Wall Street Analyst Weigh In

Several analysts have recently commented on DKS shares. JPMorgan Chase & Co. increased their price objective on DICK’S Sporting Goods from $211.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Citigroup decreased their price target on DICK’S Sporting Goods from $243.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Bank of America boosted their price target on DICK’S Sporting Goods from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. Barclays increased their price objective on shares of DICK’S Sporting Goods from $247.00 to $254.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Finally, Robert W. Baird reissued a “neutral” rating and set a $235.00 target price on shares of DICK’S Sporting Goods in a research report on Wednesday, August 28th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.