Municipal Employees Retirement System of Michigan lowered its position in Dick’s Sporting Goods Inc (NYSE:DKS) by 17.8% during the second quarter, Holdings Channel reports. The fund owned 33,480 shares of the sporting goods retailer’s stock after selling 7,270 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Dick’s Sporting Goods were worth $1,334,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. UBS Asset Management Americas Inc. raised its position in shares of Dick’s Sporting Goods by 69.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 437,486 shares of the sporting goods retailer’s stock worth $23,231,000 after buying an additional 179,276 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Dick’s Sporting Goods by 11.5% in the fourth quarter. Macquarie Group Ltd. now owns 51,353 shares of the sporting goods retailer’s stock worth $2,727,000 after buying an additional 5,289 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Dick’s Sporting Goods during the first quarter worth $3,989,000. Fulton Bank N.A. raised its position in shares of Dick’s Sporting Goods by 13.2% in the first quarter. Fulton Bank N.A. now owns 8,182 shares of the sporting goods retailer’s stock worth $399,000 after buying an additional 954 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its position in shares of Dick’s Sporting Goods by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 31,233 shares of the sporting goods retailer’s stock worth $1,519,000 after buying an additional 200 shares during the last quarter. 79.11% of the stock is currently owned by institutional investors.

Dick’s Sporting Goods Inc (NYSE DKS) opened at 37.35 on Tuesday. The company has a market cap of $4.20 billion, a P/E ratio of 14.47 and a beta of 0.47. Dick’s Sporting Goods Inc has a 52 week low of $34.55 and a 52 week high of $62.88. The firm has a 50-day moving average price of $38.36 and a 200 day moving average price of $45.85.

Dick’s Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Tuesday, May 16th. The sporting goods retailer reported $0.54 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.54. Dick’s Sporting Goods had a return on equity of 18.61% and a net margin of 3.57%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. Dick’s Sporting Goods’s revenue for the quarter was up 9.9% on a year-over-year basis. Analysts expect that Dick’s Sporting Goods Inc will post $3.66 EPS for the current fiscal year.

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DKS has been the topic of a number of research reports. Stifel Nicolaus reaffirmed an “outperform” rating and set a $65.00 target price on shares of Dick’s Sporting Goods in a research report on Sunday, April 23rd. Canaccord Genuity reaffirmed a “buy” rating and set a $67.00 target price on shares of Dick’s Sporting Goods in a research report on Monday, May 8th. B. Riley reissued a “buy” rating and issued a $64.00 price target on shares of Dick’s Sporting Goods in a research report on Friday, May 12th. Wedbush reissued an “outperform” rating and issued a $68.00 price target on shares of Dick’s Sporting Goods in a research report on Sunday, May 14th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Dick’s Sporting Goods in a research report on Saturday, May 13th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $55.43.

About Dick’s Sporting Goods

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.

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

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