Commerce Bank Sells 1,554 Shares of Dick’s Sporting Goods Inc (DKS)

Commerce Bank decreased its position in Dick’s Sporting Goods Inc (NYSE:DKS) by 10.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,544 shares of the sporting goods retailer’s stock after selling 1,554 shares during the quarter. Commerce Bank’s holdings in Dick’s Sporting Goods were worth $540,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DKS. State of New Jersey Common Pension Fund D increased its position in shares of Dick’s Sporting Goods by 46.9% during the first quarter. State of New Jersey Common Pension Fund D now owns 47,000 shares of the sporting goods retailer’s stock worth $2,287,000 after acquiring an additional 15,000 shares during the period. Russell Investments Group Ltd. increased its holdings in Dick’s Sporting Goods by 151.1% in the first quarter. Russell Investments Group Ltd. now owns 240,638 shares of the sporting goods retailer’s stock valued at $11,710,000 after buying an additional 144,792 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Dick’s Sporting Goods by 53.0% in the first quarter. Wells Fargo & Company MN now owns 559,641 shares of the sporting goods retailer’s stock valued at $27,232,000 after buying an additional 193,885 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Dick’s Sporting Goods by 660.4% in the first quarter. Canada Pension Plan Investment Board now owns 128,500 shares of the sporting goods retailer’s stock valued at $6,253,000 after buying an additional 111,600 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in Dick’s Sporting Goods by 10.7% in the first quarter. Great West Life Assurance Co. Can now owns 168,553 shares of the sporting goods retailer’s stock valued at $8,190,000 after buying an additional 16,287 shares during the last quarter. 77.76% of the stock is currently owned by institutional investors.

Shares of Dick’s Sporting Goods Inc (NYSE DKS) opened at 26.87 on Friday. Dick’s Sporting Goods Inc has a 1-year low of $25.94 and a 1-year high of $62.88. The company’s 50-day moving average is $29.63 and its 200 day moving average is $40.52. The stock has a market cap of $2.94 billion, a P/E ratio of 9.64 and a beta of 0.52.

Dick’s Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Tuesday, August 15th. The sporting goods retailer reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.04). Dick’s Sporting Goods had a net margin of 3.74% and a return on equity of 19.09%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the company earned $0.82 EPS. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that Dick’s Sporting Goods Inc will post $2.90 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, September 7th. Dick’s Sporting Goods’s payout ratio is presently 24.29%.

Several equities analysts have issued reports on DKS shares. BMO Capital Markets restated an “outperform” rating on shares of Dick’s Sporting Goods in a research note on Thursday, September 14th. ValuEngine downgraded shares of Dick’s Sporting Goods from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Cowen and Company downgraded shares of Dick’s Sporting Goods from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $31.00 to $28.00 in a research note on Thursday, August 24th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Dick’s Sporting Goods in a research note on Thursday, August 24th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $30.00 price objective (down previously from $55.00) on shares of Dick’s Sporting Goods in a research report on Wednesday, August 16th. Four research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $39.67.

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In related news, Director William J. Colombo bought 20,000 shares of Dick’s Sporting Goods stock in a transaction that occurred on Tuesday, August 22nd. The shares were acquired at an average cost of $26.25 per share, for a total transaction of $525,000.00. Following the completion of the acquisition, the director now directly owns 323,224 shares of the company’s stock, valued at approximately $8,484,630. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 23.09% of the company’s stock.

Dick’s Sporting Goods Profile

Dick’s Sporting Goods, Inc is an omni-channel sporting goods retailer offering an assortment of sports equipment, apparel, footwear and accessories in its specialty retail stores primarily in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, and Dick’s Team Sports HQ, an all-in-one youth sports digital platform offering free league management services, mobile applications for scheduling, communications and live scorekeeping, custom uniforms and FanWear and access to donations and sponsorships.

Institutional Ownership by Quarter for Dick`s Sporting Goods (NYSE:DKS)

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