Steel Grove Capital Advisors LLC Acquires Shares of 1,550 DICK’S Sporting Goods, Inc. (NYSE:DKS)

Steel Grove Capital Advisors LLC acquired a new position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 1,550 shares of the sporting goods retailer’s stock, valued at approximately $349,000.

Other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in DICK’S Sporting Goods in the first quarter valued at $25,000. Covestor Ltd grew its holdings in shares of DICK’S Sporting Goods by 70.5% during the first quarter. Covestor Ltd now owns 133 shares of the sporting goods retailer’s stock worth $30,000 after purchasing an additional 55 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of DICK’S Sporting Goods by 280.0% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 190 shares of the sporting goods retailer’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Rise Advisors LLC lifted its holdings in shares of DICK’S Sporting Goods by 163.9% in the 1st quarter. Rise Advisors LLC now owns 256 shares of the sporting goods retailer’s stock valued at $57,000 after purchasing an additional 159 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of DICK’S Sporting Goods by 236.8% in the 4th quarter. Blue Trust Inc. now owns 293 shares of the sporting goods retailer’s stock valued at $43,000 after purchasing an additional 206 shares during the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

DICK’S Sporting Goods Stock Up 3.1 %

Shares of DKS traded up $6.21 during mid-day trading on Friday, reaching $208.93. 922,040 shares of the stock traded hands, compared to its average volume of 1,071,441. The firm has a market cap of $17.03 billion, a price-to-earnings ratio of 17.30, a P/E/G ratio of 2.29 and a beta of 1.65. The stock has a fifty day simple moving average of $211.78 and a 200 day simple moving average of $194.39. The company has a quick ratio of 0.65, a current ratio of 1.71 and a debt-to-equity ratio of 0.55. DICK’S Sporting Goods, Inc. has a 12-month low of $100.98 and a 12-month high of $234.47.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings data on Wednesday, May 29th. The sporting goods retailer reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.36. DICK’S Sporting Goods had a net margin of 7.73% and a return on equity of 41.80%. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the company posted $3.40 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts expect that DICK’S Sporting Goods, Inc. will post 13.76 EPS for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $1.10 per share. The ex-dividend date was Friday, June 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.11%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 36.42%.

Insiders Place Their Bets

In related news, EVP Julie Lodge-Jarrett sold 4,910 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $222.02, for a total transaction of $1,090,118.20. Following the transaction, the executive vice president now owns 16,504 shares in the company, valued at $3,664,218.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Desiree Ralls-Morrison sold 3,489 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $206.65, for a total value of $721,001.85. Following the completion of the sale, the director now directly owns 5,609 shares of the company’s stock, valued at $1,159,099.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Julie Lodge-Jarrett sold 4,910 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $222.02, for a total transaction of $1,090,118.20. Following the completion of the transaction, the executive vice president now owns 16,504 shares in the company, valued at approximately $3,664,218.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,400 shares of company stock worth $1,811,336. 32.03% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wedbush reaffirmed a “neutral” rating and set a $230.00 price target on shares of DICK’S Sporting Goods in a research report on Wednesday, June 5th. Barclays boosted their price objective on shares of DICK’S Sporting Goods from $231.00 to $247.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Morgan Stanley lifted their target price on shares of DICK’S Sporting Goods from $235.00 to $245.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Evercore ISI increased their price target on shares of DICK’S Sporting Goods from $240.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Finally, UBS Group increased their target price on DICK’S Sporting Goods from $215.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $237.09.

About DICK’S Sporting Goods

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.