CenterBook Partners LP Invests $2.45 Million in DICK'S Sporting Goods, Inc. $DKS

Key Points

• CenterBook Partners LP opened a new position in DICK'S Sporting Goods during the fourth quarter, buying 12,397 shares worth about $2.45 million.
• Institutional interest in DKS remains high, with hedge funds and other institutions owning 89.83% of the stock and several firms, including Bank of America, Wellington, Vanguard, and Norges Bank, adding to or initiating positions.
• Analyst sentiment is broadly positive: the stock has a Moderate Buy consensus rating with an average price target of $253.89, while DICK'S also reported revenue above expectations in its latest quarter despite slightly missing EPS estimates.

CenterBook Partners LP bought a new position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,397 shares of the sporting goods retailer's stock, valued at approximately $2,454,000.

Several other hedge funds have also modified their holdings of DKS. Bank of America Corp DE boosted its stake in shares of DICK'S Sporting Goods by 588.1% during the 3rd quarter. Bank of America Corp DE now owns 3,545,944 shares of the sporting goods retailer's stock worth $787,980,000 after acquiring an additional 3,030,642 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of DICK'S Sporting Goods by 83.9% during the 3rd quarter. Wellington Management Group LLP now owns 6,606,860 shares of the sporting goods retailer's stock worth $1,468,176,000 after acquiring an additional 3,013,850 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of DICK'S Sporting Goods by 17.8% during the 3rd quarter. Vanguard Group Inc. now owns 6,719,011 shares of the sporting goods retailer's stock worth $1,493,099,000 after acquiring an additional 1,015,599 shares in the last quarter. Norges Bank purchased a new stake in shares of DICK'S Sporting Goods during the 4th quarter worth about $192,639,000. Finally, Atreides Management LP purchased a new stake in shares of DICK'S Sporting Goods during the 2nd quarter worth about $172,715,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company reissued a "positive" rating on shares of DICK'S Sporting Goods in a research note on Thursday, May 28th. DA Davidson reaffirmed a "buy" rating and issued a $260.00 price target on shares of DICK'S Sporting Goods in a research note on Thursday, May 28th. Robert W. Baird set a $264.00 price target on shares of DICK'S Sporting Goods in a research note on Thursday, May 28th. Morgan Stanley raised their price target on shares of DICK'S Sporting Goods from $250.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, May 28th. Finally, Jefferies Financial Group raised their price target on shares of DICK'S Sporting Goods from $210.00 to $224.00 and gave the company a "hold" rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $253.89.

DICK'S Sporting Goods Trading Up 3.1%

Shares of DICK'S Sporting Goods stock opened at $220.00 on Wednesday. The firm has a market capitalization of $19.59 billion, a PE ratio of 20.91, a P/E/G ratio of 1.86 and a beta of 1.19. DICK'S Sporting Goods, Inc. has a twelve month low of $170.73 and a twelve month high of $237.75. The firm's 50-day moving average price is $217.21 and its 200 day moving average price is $209.90. The company has a current ratio of 1.50, a quick ratio of 0.38 and a debt-to-equity ratio of 0.34.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The sporting goods retailer reported $2.90 EPS for the quarter, missing analysts' consensus estimates of $2.91 by ($0.01). The business had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.07 billion. DICK'S Sporting Goods had a net margin of 4.71% and a return on equity of 23.41%. The firm's revenue was up 62.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.37 EPS. DICK'S Sporting Goods has set its FY 2026 guidance at 13.500-14.500 EPS. On average, sell-side analysts predict that DICK'S Sporting Goods, Inc. will post 14.24 EPS for the current fiscal year.

DICK'S Sporting Goods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a $1.25 dividend. The ex-dividend date is Friday, June 12th. This represents a $5.00 dividend on an annualized basis and a yield of 2.3%. DICK'S Sporting Goods's dividend payout ratio is presently 47.53%.

Insider Transactions at DICK'S Sporting Goods

In other DICK'S Sporting Goods news, Chairman Edward W. Stack sold 210,478 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $197.69, for a total value of $41,609,395.82. Following the completion of the sale, the chairman owned 6,549,026 shares in the company, valued at approximately $1,294,676,949.94. This represents a 3.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Julie Lodge-Jarrett sold 4,140 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $223.56, for a total transaction of $925,538.40. Following the completion of the sale, the executive vice president owned 24,757 shares of the company's stock, valued at approximately $5,534,674.92. The trade was a 14.33% decrease in their position. The disclosure for this sale is available in the SEC filing. 28.91% of the stock is currently owned by corporate insiders.

DICK'S Sporting Goods Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.