DICK’S Sporting Goods, Inc. (NYSE:DKS) Shares Sold by Deutsche Bank AG

Deutsche Bank AG cut its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 2.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 114,008 shares of the sporting goods retailer’s stock after selling 3,114 shares during the period. Deutsche Bank AG’s holdings in DICK’S Sporting Goods were worth $22,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Park Square Financial Group LLC acquired a new stake in shares of DICK’S Sporting Goods during the fourth quarter worth $27,000. Ancora Advisors LLC acquired a new stake in shares of DICK’S Sporting Goods during the fourth quarter worth $28,000. Bessemer Group Inc. raised its position in DICK’S Sporting Goods by 108.6% in the fourth quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer’s stock worth $33,000 after acquiring an additional 76 shares in the last quarter. Private Trust Co. NA raised its position in DICK’S Sporting Goods by 54.1% in the first quarter. Private Trust Co. NA now owns 188 shares of the sporting goods retailer’s stock worth $38,000 after acquiring an additional 66 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its position in DICK’S Sporting Goods by 1,435.7% in the first quarter. Golden State Wealth Management LLC now owns 215 shares of the sporting goods retailer’s stock worth $43,000 after acquiring an additional 201 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

DICK’S Sporting Goods Stock Up 1.8%

DKS opened at $226.27 on Thursday. The business’s fifty day simple moving average is $201.19 and its 200 day simple moving average is $202.28. The company has a quick ratio of 0.47, a current ratio of 1.62 and a debt-to-equity ratio of 0.49. DICK’S Sporting Goods, Inc. has a 52 week low of $166.37 and a 52 week high of $254.60. The firm has a market cap of $18.11 billion, a P/E ratio of 16.19, a PEG ratio of 3.17 and a beta of 1.07.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.37. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.12 billion. DICK’S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. As a group, equities research analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $1.2125 dividend. This represents a $4.85 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, June 13th. DICK’S Sporting Goods’s payout ratio is currently 34.69%.

Insiders Place Their Bets

In other news, CEO Lauren R. Hobart sold 40,166 shares of DICK’S Sporting Goods stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $204.58, for a total value of $8,217,160.28. Following the transaction, the chief executive officer directly owned 299,990 shares of the company’s stock, valued at $61,371,954.20. The trade was a 11.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert W. Eddy acquired 1,357 shares of DICK’S Sporting Goods stock in a transaction dated Wednesday, June 25th. The stock was purchased at an average cost of $185.31 per share, for a total transaction of $251,465.67. Following the completion of the purchase, the director directly owned 4,768 shares in the company, valued at approximately $883,558.08. This represents a 39.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 55,866 shares of company stock worth $11,462,773. 32.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on DKS shares. Citigroup reiterated a “neutral” rating on shares of DICK’S Sporting Goods in a research report on Thursday, May 29th. UBS Group cut their price objective on DICK’S Sporting Goods from $260.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Truist Financial set a $230.00 price objective on DICK’S Sporting Goods in a research report on Wednesday, May 28th. Wells Fargo & Company increased their price objective on DICK’S Sporting Goods from $171.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. cut their price objective on DICK’S Sporting Goods from $224.00 to $195.00 and set a “neutral” rating for the company in a research report on Thursday, May 29th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, DICK’S Sporting Goods has a consensus rating of “Hold” and an average price target of $221.50.

DICK’S Sporting Goods Company Profile

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.