Adage Capital Partners GP L.L.C. Has $12.09 Million Stock Holdings in DICK'S Sporting Goods, Inc. $DKS

Key Points

• Adage Capital Partners GP L.L.C. significantly increased its stake in DICK'S Sporting Goods by 179.1%, owning 60,000 shares valued at approximately $12.09 million as of the last quarter.
• DICK'S Sporting Goods reported $4.38 earnings per share for the last quarter, surpassing analyst expectations, and a revenue increase of 5.0% year-over-year.
• The company has declared a quarterly dividend of $1.2125 per share, with an annualized dividend yield of 2.2%.

Adage Capital Partners GP L.L.C. boosted its holdings in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 179.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,000 shares of the sporting goods retailer's stock after buying an additional 38,500 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.08% of DICK'S Sporting Goods worth $12,094,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new position in DICK'S Sporting Goods during the fourth quarter worth $27,000. Private Trust Co. NA increased its position in DICK'S Sporting Goods by 54.1% during the first quarter. Private Trust Co. NA now owns 188 shares of the sporting goods retailer's stock worth $38,000 after buying an additional 66 shares during the last quarter. Golden State Wealth Management LLC increased its position in DICK'S Sporting Goods by 1,435.7% during the first quarter. Golden State Wealth Management LLC now owns 215 shares of the sporting goods retailer's stock worth $43,000 after buying an additional 201 shares during the last quarter. Bessemer Group Inc. increased its position in DICK'S Sporting Goods by 49.3% during the first quarter. Bessemer Group Inc. now owns 218 shares of the sporting goods retailer's stock worth $44,000 after buying an additional 72 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in DICK'S Sporting Goods by 42.5% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 255 shares of the sporting goods retailer's stock worth $51,000 after buying an additional 76 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

DICK'S Sporting Goods Stock Performance

DKS stock traded down $9.37 during trading on Friday, reaching $221.57. 1,850,532 shares of the stock were exchanged, compared to its average volume of 2,259,393. DICK'S Sporting Goods, Inc. has a twelve month low of $166.37 and a twelve month high of $254.60. The company has a market capitalization of $17.75 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 3.31 and a beta of 1.02. The stock has a 50 day simple moving average of $216.61 and a 200-day simple moving average of $199.90. The company has a current ratio of 1.70, a quick ratio of 0.55 and a debt-to-equity ratio of 0.44.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its earnings results on Thursday, August 28th. The sporting goods retailer reported $4.38 earnings per share for the quarter, topping analysts' consensus estimates of $4.30 by $0.08. DICK'S Sporting Goods had a return on equity of 36.54% and a net margin of 8.52%.The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period last year, the business earned $4.37 earnings per share. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. DICK'S Sporting Goods has set its FY 2025 guidance at 13.900-14.500 EPS. As a group, sell-side analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $1.2125 per share. The ex-dividend date is Friday, September 12th. This represents a $4.85 dividend on an annualized basis and a yield of 2.2%. DICK'S Sporting Goods's dividend payout ratio (DPR) is currently 33.87%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on DKS shares. Bank of America lowered their price target on DICK'S Sporting Goods from $250.00 to $240.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. TD Cowen downgraded DICK'S Sporting Goods from a "buy" rating to a "hold" rating and set a $216.00 price target on the stock. in a research report on Thursday, May 15th. UBS Group raised their price target on DICK'S Sporting Goods from $225.00 to $275.00 and gave the company a "buy" rating in a research report on Friday, August 29th. DA Davidson set a $250.00 price target on DICK'S Sporting Goods in a research report on Friday, August 29th. Finally, Morgan Stanley raised their price target on DICK'S Sporting Goods from $232.00 to $253.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Ten analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $235.83.

Insider Activity

In other news, Director Robert W. Eddy acquired 1,357 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was bought at an average price of $185.31 per share, with a total value of $251,465.67. Following the completion of the acquisition, the director owned 4,768 shares in the company, valued at approximately $883,558.08. This represents a 39.78% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Elizabeth H. Baran sold 1,830 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $204.65, for a total transaction of $374,509.50. Following the sale, the senior vice president directly owned 12,465 shares of the company's stock, valued at approximately $2,550,962.25. The trade was a 12.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,200 shares of company stock valued at $14,462,923. 32.55% of the stock is owned by company insiders.

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.