Clark Capital Management Group Inc. Reduces Holdings in DICK'S Sporting Goods, Inc. $DKS

Key Points

• Clark Capital Management Group Inc. sold 157,386 shares of DICK'S Sporting Goods, reducing its stake by 46.8%, and now owns 178,909 shares valued at approximately $36 million.
• Following its earnings report, DICK'S Sporting Goods posted $4.38 earnings per share, exceeding analyst expectations, and announced a quarterly dividend of $1.2125 per share.
• Analysts are generally optimistic about DICK'S Sporting Goods, with nine giving it a "Buy" rating and a raised target price by Morgan Stanley from $232 to $253.

Clark Capital Management Group Inc. cut its holdings in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 46.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 178,909 shares of the sporting goods retailer's stock after selling 157,386 shares during the quarter. Clark Capital Management Group Inc. owned approximately 0.22% of DICK'S Sporting Goods worth $36,061,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of DKS. Park Square Financial Group LLC bought a new stake in DICK'S Sporting Goods during the fourth quarter valued at about $27,000. Ancora Advisors LLC purchased a new position in shares of DICK'S Sporting Goods during the fourth quarter valued at about $28,000. Private Trust Co. NA grew its position in shares of DICK'S Sporting Goods by 54.1% during the first quarter. Private Trust Co. NA now owns 188 shares of the sporting goods retailer's stock valued at $38,000 after purchasing an additional 66 shares in the last quarter. Golden State Wealth Management LLC grew its position 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. Finally, Bessemer Group Inc. grew its position in shares of DICK'S Sporting Goods by 49.3% during the first quarter. Bessemer Group Inc. now owns 218 shares of the sporting goods retailer's stock valued at $44,000 after purchasing an additional 72 shares in the last quarter. 89.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on DKS shares. Barclays lifted their price target on DICK'S Sporting Goods from $232.00 to $246.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Bank of America dropped their price target on 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. Citigroup upgraded DICK'S Sporting Goods from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $225.00 to $280.00 in a research report on Tuesday. DA Davidson set a $250.00 price target on DICK'S Sporting Goods in a research report on Friday, August 29th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $255.00 price target on shares of DICK'S Sporting Goods in a research report on Monday. Ten analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $235.83.

Insider Activity

In related news, Director Robert W. Eddy acquired 1,280 shares of the company's 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 completion of the acquisition, the director directly owned 6,048 shares of the company's stock, valued at $1,179,299.52. This represents a 26.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Elizabeth H. Baran sold 1,830 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $204.65, for a total transaction of $374,509.50. Following the sale, the senior vice president directly owned 12,465 shares in the company, valued at $2,550,962.25. This trade represents a 12.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,200 shares of company stock valued at $14,462,923. 32.55% of the stock is owned by corporate insiders.

DICK'S Sporting Goods Stock Up 3.1%

Shares of DKS stock traded up $6.74 during trading hours on Wednesday, reaching $227.01. 611,209 shares of the company's stock were exchanged, compared to its average volume of 1,564,973. The stock's 50 day moving average is $215.40 and its 200-day moving average is $199.63. The company has a market cap of $18.18 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 3.21 and a beta of 1.02. The company has a current ratio of 1.70, a quick ratio of 0.55 and a debt-to-equity ratio of 0.44. DICK'S Sporting Goods, Inc. has a fifty-two week low of $166.37 and a fifty-two week high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The sporting goods retailer reported $4.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.30 by $0.08. The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.61 billion. DICK'S Sporting Goods had a return on equity of 36.54% and a net margin of 8.52%.The business's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $4.37 earnings per share. DICK'S Sporting Goods has set its FY 2025 guidance at 13.900-14.500 EPS. Analysts predict 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $1.2125 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.1%. DICK'S Sporting Goods's payout ratio is 33.87%.

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.