Charles Schwab Investment Management Inc. Decreases Stock Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Charles Schwab Investment Management Inc. lowered its stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 78.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 393,349 shares of the sporting goods retailer's stock after selling 1,472,828 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.49% of DICK'S Sporting Goods worth $79,283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Park Square Financial Group LLC purchased a new position in DICK'S Sporting Goods during the fourth quarter worth about $27,000. Ancora Advisors LLC acquired a new position in shares of DICK'S Sporting Goods during the 4th quarter valued at $28,000. Bessemer Group Inc. increased its stake in DICK'S Sporting Goods by 108.6% during the 4th quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock worth $33,000 after buying an additional 76 shares during the period. Private Trust Co. NA increased its stake in DICK'S Sporting Goods by 54.1% during the 1st 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 period. Finally, Golden State Wealth Management LLC increased its position in shares of DICK'S Sporting Goods by 1,435.7% in the 1st quarter. Golden State Wealth Management LLC now owns 215 shares of the sporting goods retailer's stock worth $43,000 after purchasing an additional 201 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays boosted their target price on shares of DICK'S Sporting Goods from $217.00 to $232.00 and gave the company an "overweight" rating in a research note on Thursday, May 29th. Citigroup reiterated a "neutral" rating on shares of DICK'S Sporting Goods in a research note on Thursday, May 29th. Bank of America dropped their price target on shares of 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. Gordon Haskett raised shares of DICK'S Sporting Goods from a "reduce" rating to a "hold" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. lowered their price target on shares of DICK'S Sporting Goods from $224.00 to $195.00 and set a "neutral" rating for the company in a research report on Thursday, May 29th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, DICK'S Sporting Goods currently has a consensus rating of "Hold" and an average target price of $223.06.

DICK'S Sporting Goods Price Performance

DKS traded up $1.35 during midday trading on Friday, hitting $224.16. The stock had a trading volume of 1,177,868 shares, compared to its average volume of 1,134,681. The company has a market cap of $17.94 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 3.19 and a beta of 1.07. The business has a fifty day moving average of $202.94 and a 200 day moving average of $201.64. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.47 and a current ratio of 1.62. 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 issued 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. DICK'S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.12 billion. As a group, equities analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $1.2125 dividend. This represents a $4.85 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, June 13th. DICK'S Sporting Goods's dividend payout ratio (DPR) is presently 34.69%.

Insider Buying and Selling

In related news, Director Robert W. Eddy acquired 1,280 shares of the stock in a transaction dated Thursday, June 26th. The shares were purchased at an average cost of $194.99 per share, with a total value of $249,587.20. Following the transaction, the director directly owned 6,048 shares in the company, valued at approximately $1,179,299.52. This represents a 26.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Navdeep Gupta sold 13,334 shares of DICK'S Sporting Goods stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $225.00, for a total value of $3,000,150.00. Following the sale, the executive vice president directly owned 74,444 shares in the company, valued at $16,749,900. This trade represents a 15.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,200 shares of company stock worth $14,462,923 in the last three months. 32.55% of the stock is currently owned by company insiders.

About DICK'S Sporting Goods

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.