Allianz Asset Management GmbH Reduces Holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Key Points

• Allianz Asset Management GmbH significantly reduced its stake in DICK'S Sporting Goods by 59.9%, selling 114,852 shares and ending the quarter with 76,882 shares valued at approximately $15.5 million.
• Despite Allianz's decrease in holdings, several other institutional investors such as IFP Advisors Inc and HS Management Partners LLC increased their positions in DICK'S Sporting Goods during the same quarter.
• DICK'S Sporting Goods reported $3.37 EPS for the quarter, meeting analyst expectations, and announced a quarterly dividend of $1.2125 per share with an annualized yield of 2.23%.

Allianz Asset Management GmbH lowered its stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 59.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,882 shares of the sporting goods retailer's stock after selling 114,852 shares during the period. Allianz Asset Management GmbH owned 0.10% of DICK'S Sporting Goods worth $15,498,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new stake in DICK'S Sporting Goods in the fourth quarter valued at $27,000. Ancora Advisors LLC bought a new stake in shares of DICK'S Sporting Goods during the 4th quarter valued at $28,000. Bessemer Group Inc. boosted its stake in DICK'S Sporting Goods by 108.6% during the fourth quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock worth $33,000 after acquiring an additional 76 shares in the last quarter. Private Trust Co. NA grew its holdings in DICK'S Sporting Goods by 54.1% in the first quarter. Private Trust Co. NA now owns 188 shares of the sporting goods retailer's stock worth $38,000 after purchasing an additional 66 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in shares of 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 valued at $43,000 after purchasing an additional 201 shares in the last quarter. Institutional investors own 89.83% of the company's stock.

Insiders Place Their Bets

In other DICK'S Sporting Goods news, Director Robert W. Eddy purchased 1,357 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was acquired at an average cost of $185.31 per share, for a total transaction of $251,465.67. Following the purchase, the director directly owned 4,768 shares of the company's stock, valued at $883,558.08. This trade represents a 39.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lauren R. Hobart sold 40,166 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $204.58, for a total value of $8,217,160.28. Following the completion of the transaction, the chief executive officer owned 299,990 shares of the company's stock, valued at $61,371,954.20. The trade was a 11.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,866 shares of company stock worth $11,462,773 over the last ninety days. 32.55% of the stock is owned by company insiders.

DICK'S Sporting Goods Stock Performance

DKS traded up $5.19 during midday trading on Friday, reaching $217.06. The company had a trading volume of 813,620 shares, compared to its average volume of 1,423,697. 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 business has a 50-day moving average of $191.21 and a two-hundred day moving average of $203.65. The company has a market cap of $17.38 billion, a P/E ratio of 15.53, a P/E/G ratio of 3.10 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.

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

DICK'S Sporting Goods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a $1.2125 dividend. The ex-dividend date was Friday, June 13th. This represents a $4.85 annualized dividend and a yield of 2.23%. DICK'S Sporting Goods's payout ratio is 34.69%.

Wall Street Analysts Forecast Growth

DKS has been the topic of several recent research reports. Bank of America cut 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 note on Tuesday, June 24th. DA Davidson reaffirmed a "buy" rating and issued a $230.00 price target on shares of DICK'S Sporting Goods in a research report on Friday, June 27th. Wells Fargo & Company lifted their price target on DICK'S Sporting Goods from $171.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Robert W. Baird lowered their price target on DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating for the company in a research report on Friday, May 16th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $220.00 price target on shares of DICK'S Sporting Goods in a research report on Wednesday, May 28th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $219.56.

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.