Bessemer Group Inc. Acquires 72 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Bessemer Group Inc. boosted its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 49.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 218 shares of the sporting goods retailer’s stock after purchasing an additional 72 shares during the quarter. Bessemer Group Inc.’s holdings in DICK’S Sporting Goods were worth $44,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Wealthquest Corp bought a new stake in DICK’S Sporting Goods in the first quarter worth approximately $712,000. Asset Management One Co. Ltd. increased its holdings in DICK’S Sporting Goods by 4.0% in the first quarter. Asset Management One Co. Ltd. now owns 22,266 shares of the sporting goods retailer’s stock worth $4,488,000 after purchasing an additional 851 shares in the last quarter. Flagship Harbor Advisors LLC increased its holdings in DICK’S Sporting Goods by 8.2% in the first quarter. Flagship Harbor Advisors LLC now owns 1,099 shares of the sporting goods retailer’s stock worth $221,000 after purchasing an additional 83 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in DICK’S Sporting Goods by 4.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,911 shares of the sporting goods retailer’s stock worth $3,812,000 after purchasing an additional 817 shares in the last quarter. Finally, LVZ Inc. increased its holdings in DICK’S Sporting Goods by 8.9% in the first quarter. LVZ Inc. now owns 1,962 shares of the sporting goods retailer’s stock worth $395,000 after purchasing an additional 160 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Robert W. Eddy purchased 1,357 shares of the company’s stock in a transaction dated Wednesday, June 25th. The shares were purchased at an average price of $185.31 per share, with a total value of $251,465.67. Following the transaction, the director directly owned 4,768 shares of the company’s stock, valued at approximately $883,558.08. This represents a 39.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Elizabeth H. Baran sold 1,830 shares of the company’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $204.65, for a total value of $374,509.50. Following the transaction, the senior vice president directly owned 12,465 shares in the company, valued at $2,550,962.25. This represents a 12.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,563 shares of company stock worth $9,462,628 in the last ninety days. Company insiders own 32.55% of the company’s stock.

DICK’S Sporting Goods Trading Down 0.2%

Shares of DICK’S Sporting Goods stock opened at $206.08 on Friday. The stock has a fifty day simple moving average of $185.88 and a 200 day simple moving average of $205.48. DICK’S Sporting Goods, Inc. has a 12-month low of $166.37 and a 12-month high of $254.60. The company has a market capitalization of $16.50 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 2.94 and a beta of 1.07. The company has a current ratio of 1.62, a quick ratio of 0.47 and a debt-to-equity ratio of 0.49.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings data on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share for the quarter, hitting the consensus estimate of $3.37. DICK’S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. The business had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.12 billion. On average, sell-side analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the sporting goods retailer to reacquire up to 18.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

DICK’S Sporting Goods Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $1.2125 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $4.85 annualized dividend and a yield of 2.35%. DICK’S Sporting Goods’s dividend payout ratio is currently 34.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DKS shares. Guggenheim reiterated a “neutral” rating on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Citigroup restated a “neutral” rating on shares of DICK’S Sporting Goods in a report on Thursday, May 29th. Wedbush restated a “neutral” rating and set a $215.00 price objective on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Barclays boosted their price objective on DICK’S Sporting Goods from $217.00 to $232.00 and gave the company an “overweight” rating in a report on Thursday, May 29th. Finally, Wall Street Zen upgraded DICK’S Sporting Goods from a “sell” rating to a “hold” rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, DICK’S Sporting Goods presently has an average rating of “Hold” and an average price target of $219.56.

About DICK’S Sporting Goods

Dick’s Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.