BlackRock Inc. Acquires New Stake in DICK'S Sporting Goods, Inc. $DKS

Key Points

• BlackRock acquired 6.62 million shares of DICK’S Sporting Goods in the second quarter, worth approximately $1.50 billion and representing a 7.4% stake. Institutional investors collectively own 89.83% of the company.
• DICK’S stock was trading at $180.03, down 5.9%, and near its one-year low of $176.07. The company reported quarterly revenue of $5.16 billion, up 62.7% year over year, but narrowly missed earnings expectations.
• The retailer declared a quarterly dividend of $1.25 per share, equivalent to a 2.8% annual yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $258.44.

BlackRock Inc. purchased a new stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,619,288 shares of the sporting goods retailer's stock, valued at approximately $1,501,321,000. BlackRock Inc. owned about 7.40% of DICK'S Sporting Goods as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of DKS. Occidental Asset Management LLC purchased a new stake in DICK'S Sporting Goods in the 2nd quarter valued at about $3,510,000. Deutsche Bank AG acquired a new stake in shares of DICK'S Sporting Goods during the second quarter worth about $25,505,000. Perigon Wealth Management LLC acquired a new stake in shares of DICK'S Sporting Goods in the second quarter worth $474,000. Phillips Wealth Planners LLC acquired a new stake in DICK'S Sporting Goods during the second quarter valued at $437,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in DICK'S Sporting Goods in the 2nd quarter worth about $15,986,000. 89.83% of the stock is owned by institutional investors.

DICK'S Sporting Goods Trading Down 5.9%

DICK'S Sporting Goods stock opened at $180.03 on Friday. The firm's 50-day moving average is $214.68 and its 200-day moving average is $211.55. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.38 and a current ratio of 1.50. DICK'S Sporting Goods, Inc. has a 1 year low of $176.07 and a 1 year high of $244.38. The company has a market cap of $16.11 billion, a P/E ratio of 17.11, a PEG ratio of 1.67 and a beta of 1.21.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its earnings results on Wednesday, May 27th. The sporting goods retailer reported $2.90 earnings per share for the quarter, missing the consensus estimate of $2.91 by ($0.01). DICK'S Sporting Goods had a net margin of 4.71% and a return on equity of 22.22%. The firm had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same period in the prior year, the business earned $3.37 EPS. The company's quarterly revenue was up 62.7% compared to the same quarter last year. DICK'S Sporting Goods has set its FY 2026 guidance at 13.500-14.500 EPS. On average, equities analysts expect that DICK'S Sporting Goods, Inc. will post 14.23 earnings per share for the current year.

DICK'S Sporting Goods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, June 12th. DICK'S Sporting Goods's dividend payout ratio is presently 47.53%.

Wall Street Analysts Forecast Growth

DKS has been the topic of several recent research reports. BTIG Research restated a "buy" rating and set a $300.00 target price on shares of DICK'S Sporting Goods in a report on Thursday, May 28th. Barclays upped their price target on DICK'S Sporting Goods from $264.00 to $280.00 and gave the stock an "overweight" rating in a research note on Thursday, May 28th. Weiss Ratings cut shares of DICK'S Sporting Goods from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, June 5th. DA Davidson restated a "buy" rating and set a $260.00 price target on shares of DICK'S Sporting Goods in a report on Monday. Finally, Telsey Advisory Group lifted their price target on DICK'S Sporting Goods from $240.00 to $255.00 and gave the stock an "outperform" rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $258.44.

About DICK'S Sporting Goods

DICK'S Sporting Goods is a leading U.S.-based sporting goods retailer that sells a broad range of sports equipment, apparel, footwear and outdoor gear. The company operates an omnichannel business combining physical stores with digital sales, offering products for team sports, fitness, hunting and fishing, golf, and general active lifestyle categories. In addition to its flagship DICK'S stores, the company operates specialty formats such as Golf Galaxy and branded service offerings including team-sports sales and custom equipment solutions.

The company traces its roots to a single sporting goods outlet founded in 1948 and has since grown into a national retail chain serving customers across the United States.

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