LGT Group Foundation Makes New Investment in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Key Points

• LGT Group Foundation acquired 1,954 shares of DICK'S Sporting Goods, worth approximately $394,000, indicating growing institutional interest in the company.
• Recent upgrades from analysts reflect positive sentiment, with numerous ratings shifting to hold, suggesting steady stock performance, while the consensus target price is set at $221.50.
• DICK'S Sporting Goods announced a quarterly dividend of $1.2125 per share, yielding 2.1%, highlighting its commitment to returning value to shareholders.

LGT Group Foundation bought a new stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,954 shares of the sporting goods retailer's stock, valued at approximately $394,000.

A number of other institutional investors also recently made changes to their positions in DKS. Vanguard Group Inc. lifted its stake in DICK'S Sporting Goods by 8.8% during the first quarter. Vanguard Group Inc. now owns 5,850,223 shares of the sporting goods retailer's stock worth $1,179,171,000 after purchasing an additional 471,217 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of DICK'S Sporting Goods by 10.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 881,620 shares of the sporting goods retailer's stock worth $201,768,000 after buying an additional 86,064 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of DICK'S Sporting Goods by 36.2% in the 1st quarter. Invesco Ltd. now owns 808,313 shares of the sporting goods retailer's stock valued at $162,924,000 after buying an additional 214,718 shares during the period. Westfield Capital Management Co. LP grew its position in shares of DICK'S Sporting Goods by 1,899.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 630,566 shares of the sporting goods retailer's stock valued at $127,097,000 after buying an additional 599,025 shares during the last quarter. Finally, Northern Trust Corp raised its stake in DICK'S Sporting Goods by 27.9% during the fourth quarter. Northern Trust Corp now owns 594,995 shares of the sporting goods retailer's stock worth $136,159,000 after acquiring an additional 129,783 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DICK'S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 3,541 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $187.00, for a total value of $662,167.00. Following the completion of the transaction, the executive vice president owned 19,165 shares in the company, valued at approximately $3,583,855. This represents a 15.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Lauren R. Hobart sold 40,166 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $204.58, for a total value of $8,217,160.28. Following the completion of the sale, the chief executive officer directly owned 299,990 shares in the company, valued at approximately $61,371,954.20. This represents a 11.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,200 shares of company stock valued at $14,462,923 in the last three months. 32.55% of the stock is owned by insiders.

DICK'S Sporting Goods Trading Up 0.6%

Shares of DKS stock traded up $1.35 during trading hours on Friday, reaching $224.16. 1,177,868 shares of the stock traded hands, compared to its average volume of 1,134,681. The company has a quick ratio of 0.47, a current ratio of 1.62 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $17.94 billion, a PE ratio of 16.03, a PEG ratio of 3.19 and a beta of 1.07. DICK'S Sporting Goods, Inc. has a 1-year low of $166.37 and a 1-year high of $254.60. The business has a fifty day moving average price of $202.94 and a 200 day moving average price of $201.64.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $3.37. DICK'S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. The firm had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.12 billion. On average, equities research analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK'S Sporting Goods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $1.2125 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $4.85 dividend on an annualized basis and a yield of 2.2%. DICK'S Sporting Goods's payout ratio is 34.69%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DKS shares. Gordon Haskett raised DICK'S Sporting Goods from a "reduce" rating to a "hold" rating in a report on Friday, July 25th. DA Davidson reaffirmed a "buy" rating and set a $230.00 price target on shares of DICK'S Sporting Goods in a report on Friday, June 27th. Bank of America decreased their price objective on DICK'S Sporting Goods from $250.00 to $240.00 and set a "buy" rating for the company in a report on Tuesday, June 24th. Wall Street Zen upgraded DICK'S Sporting Goods from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Finally, TD Cowen downgraded DICK'S Sporting Goods from a "buy" rating to a "hold" rating and set a $216.00 target price on the stock. in a research note on Thursday, May 15th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $223.06.

DICK'S Sporting Goods Company Profile

Dick's Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.