Dick’s Sporting Goods Inc (DKS) Shares Sold by ProShare Advisors LLC
ProShare Advisors LLC trimmed its holdings in shares of Dick’s Sporting Goods Inc (NYSE:DKS) by 16.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,567 shares of the sporting goods retailer’s stock after selling 1,319 shares during the quarter. ProShare Advisors LLC’s holdings in Dick’s Sporting Goods were worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Point72 Asia Hong Kong Ltd purchased a new position in Dick’s Sporting Goods during the 1st quarter worth $114,000. Creative Planning grew its stake in Dick’s Sporting Goods by 72.2% during the 2nd quarter. Creative Planning now owns 2,667 shares of the sporting goods retailer’s stock worth $106,000 after buying an additional 1,118 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Dick’s Sporting Goods by 30.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,823 shares of the sporting goods retailer’s stock worth $113,000 after buying an additional 653 shares during the last quarter. HPM Partners LLC purchased a new position in Dick’s Sporting Goods during the 2nd quarter worth $272,000. Finally, Globeflex Capital L P purchased a new position in Dick’s Sporting Goods during the 1st quarter worth $224,000. Hedge funds and other institutional investors own 77.76% of the company’s stock.
In related news, Director William J. Colombo purchased 20,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were purchased at an average price of $26.25 per share, with a total value of $525,000.00. Following the completion of the acquisition, the director now directly owns 323,224 shares in the company, valued at approximately $8,484,630. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 23.09% of the company’s stock.
Several brokerages recently weighed in on DKS. Wells Fargo & Company set a $29.00 target price on Dick’s Sporting Goods and gave the stock a “hold” rating in a research note on Wednesday. Cowen and Company restated a “hold” rating and set a $28.00 target price on shares of Dick’s Sporting Goods in a research note on Thursday, September 28th. BMO Capital Markets restated an “outperform” rating on shares of Dick’s Sporting Goods in a research note on Thursday, September 14th. ValuEngine downgraded Dick’s Sporting Goods from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Dick’s Sporting Goods in a research note on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and five have given a buy rating to the stock. Dick’s Sporting Goods presently has a consensus rating of “Hold” and a consensus target price of $37.73.
Dick’s Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Tuesday, August 15th. The sporting goods retailer reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.04). Dick’s Sporting Goods had a return on equity of 19.09% and a net margin of 3.74%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the business earned $0.82 EPS. The business’s quarterly revenue was up 9.6% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Thursday, September 7th. Dick’s Sporting Goods’s dividend payout ratio is currently 24.29%.
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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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