CCM Investment Group LLC Makes New $902,000 Investment in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Key Points

• CCM Investment Group LLC has taken a new position in DICK'S Sporting Goods, purchasing 4,464 shares valued at approximately $902,000.
• Other notable institutional investors include Westfield Capital Management, which increased its stake by 1,899.2%, and Vanguard Group, which raised its stake by 8.8% during the same period.
• DICK'S Sporting Goods recently announced a quarterly dividend of $1.2125 per share, representing an annual yield of 2.3% and a dividend payout ratio of 34.69%.

CCM Investment Group LLC purchased a new stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,464 shares of the sporting goods retailer's stock, valued at approximately $902,000.

A number of other hedge funds also recently made changes to their positions in the business. Nuveen LLC acquired a new stake in shares of DICK'S Sporting Goods during the 1st quarter worth about $25,543,000. Aigen Investment Management LP acquired a new stake in shares of DICK'S Sporting Goods during the 1st quarter worth about $1,259,000. Invesco Ltd. increased its position in shares of DICK'S Sporting Goods by 36.2% during the 1st quarter. Invesco Ltd. now owns 808,313 shares of the sporting goods retailer's stock worth $162,924,000 after purchasing an additional 214,718 shares in the last quarter. Atlas Capital Advisors Inc. increased its position in shares of DICK'S Sporting Goods by 25.1% during the 1st quarter. Atlas Capital Advisors Inc. now owns 2,850 shares of the sporting goods retailer's stock worth $574,000 after purchasing an additional 572 shares in the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of DICK'S Sporting Goods during the 1st quarter worth about $213,000. Institutional investors and hedge funds own 89.83% of the company's stock.

Insider Buying and Selling

In related news, EVP Navdeep Gupta sold 9,303 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $215.00, for a total transaction of $2,000,145.00. Following the completion of the sale, the executive vice president owned 87,778 shares of the company's stock, valued at $18,872,270. This represents a 9.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Lauren R. Hobart sold 40,166 shares of the company's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $204.58, for a total transaction of $8,217,160.28. Following the sale, the chief executive officer directly owned 299,990 shares of the company's stock, valued at $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 55,866 shares of company stock valued at $11,462,773 in the last 90 days. 32.55% of the stock is currently owned by corporate insiders.

DICK'S Sporting Goods Stock Performance

DKS stock traded up $4.06 during midday trading on Wednesday, reaching $226.27. 1,321,913 shares of the company were exchanged, compared to its average volume of 1,171,807. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.62 and a quick ratio of 0.47. The business has a 50-day moving average price of $201.19 and a two-hundred day moving average price of $202.28. DICK'S Sporting Goods, Inc. has a one year low of $166.37 and a one year high of $254.60. The firm has a market capitalization of $18.11 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 3.17 and a beta of 1.07.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its earnings results 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. The company had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.12 billion. DICK'S Sporting Goods had a net margin of 8.49% and a return on equity of 38.06%. Equities research analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK'S Sporting Goods Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, June 13th. DICK'S Sporting Goods's payout ratio is presently 34.69%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DKS shares. Bank of America lowered their price objective on shares of DICK'S Sporting Goods from $250.00 to $240.00 and set a "buy" rating for the company in a research report on Tuesday, June 24th. Barclays raised their price objective on shares of DICK'S Sporting Goods from $217.00 to $232.00 and gave the company an "overweight" rating in a research report on Thursday, May 29th. Wells Fargo & Company raised their price objective on shares of DICK'S Sporting Goods from $171.00 to $187.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Loop Capital set a $215.00 target price on shares of DICK'S Sporting Goods and gave the company a "hold" rating in a research note on Wednesday, July 30th. Finally, Citigroup reaffirmed a "neutral" rating on shares of DICK'S Sporting Goods in a research note on Thursday, May 29th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, DICK'S Sporting Goods has a consensus rating of "Hold" and a consensus price target of $221.50.

DICK'S Sporting Goods 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.