Bremer Bank National Association Takes Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Bremer Bank National Association purchased a new stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 26,595 shares of the sporting goods retailer’s stock, valued at approximately $5,714,000. DICK’S Sporting Goods comprises approximately 1.1% of Bremer Bank National Association’s portfolio, making the stock its 26th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in DICK’S Sporting Goods in the 1st quarter valued at about $25,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in DICK’S Sporting Goods by 280.0% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 190 shares of the sporting goods retailer’s stock valued at $28,000 after buying an additional 140 shares during the period. Covestor Ltd raised its holdings in DICK’S Sporting Goods by 70.5% in the 1st quarter. Covestor Ltd now owns 133 shares of the sporting goods retailer’s stock valued at $30,000 after buying an additional 55 shares during the period. ORG Partners LLC purchased a new stake in DICK’S Sporting Goods in the 2nd quarter valued at about $30,000. Finally, Versant Capital Management Inc raised its holdings in DICK’S Sporting Goods by 222.6% in the 2nd quarter. Versant Capital Management Inc now owns 171 shares of the sporting goods retailer’s stock valued at $37,000 after buying an additional 118 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

DICK’S Sporting Goods Price Performance

NYSE:DKS traded down $1.47 during trading hours on Wednesday, hitting $213.78. The company’s stock had a trading volume of 740,122 shares, compared to its average volume of 1,129,684. The business’s 50-day moving average is $211.93 and its two-hundred day moving average is $199.70. The company has a market capitalization of $17.42 billion, a PE ratio of 17.86, a PEG ratio of 2.26 and a beta of 1.65. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.65 and a current ratio of 1.71. DICK’S Sporting Goods, Inc. has a 52-week low of $100.98 and a 52-week high of $234.47.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results 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 return on equity of 41.80% and a net margin of 7.73%. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the business posted $3.40 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, research analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.76 EPS for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Friday, June 14th. DICK’S Sporting Goods’s dividend payout ratio is currently 36.42%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DKS. Oppenheimer boosted their price objective on shares of DICK’S Sporting Goods from $240.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. UBS Group boosted their price objective on shares of DICK’S Sporting Goods from $215.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Barclays boosted their price target on shares of DICK’S Sporting Goods from $231.00 to $247.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Loop Capital cut their price target on shares of DICK’S Sporting Goods from $230.00 to $200.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of DICK’S Sporting Goods from $197.00 to $211.00 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 assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.05.

Insider Activity

In related news, EVP Julie Lodge-Jarrett sold 4,910 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $222.02, for a total transaction of $1,090,118.20. Following the sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at $3,664,218.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Desiree Ralls-Morrison sold 3,489 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $206.65, for a total transaction of $721,001.85. Following the sale, the director now owns 5,609 shares of the company’s stock, valued at $1,159,099.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Julie Lodge-Jarrett sold 4,910 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $222.02, for a total value of $1,090,118.20. Following the sale, the executive vice president now directly owns 16,504 shares in the company, valued at approximately $3,664,218.08. The disclosure for this sale can be found here. Insiders sold a total of 8,400 shares of company stock worth $1,811,336 over the last 90 days. 32.03% of the stock is currently owned by corporate insiders.

DICK’S Sporting Goods 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.