CTC Alternative Strategies Ltd. Acquires Shares of 2,900 DICK'S Sporting Goods, Inc. $DKS

Key Points

• CTC Alternative Strategies Ltd. acquired 2,900 shares of DICK'S Sporting Goods (NYSE:DKS), valued at approximately $585,000, as noted in their recent 13F filing.
• Most institutional investors have significantly increased their stakes in DICK'S Sporting Goods, with Wellington Management growing its position by 416.9% in the first quarter.
• Analysts have set a consensus price target of $232.50 for DICK'S Sporting Goods, with ratings including nine "Buy" and eleven "Hold" recommendations.

CTC Alternative Strategies Ltd. purchased a new position in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,900 shares of the sporting goods retailer's stock, valued at approximately $585,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Bessemer Group Inc. grew its stake in DICK'S Sporting Goods by 49.3% in the first quarter. Bessemer Group Inc. now owns 218 shares of the sporting goods retailer's stock worth $44,000 after purchasing an additional 72 shares in the last quarter. Fifth Third Bancorp grew its stake in DICK'S Sporting Goods by 27.5% in the first quarter. Fifth Third Bancorp now owns 968 shares of the sporting goods retailer's stock worth $195,000 after purchasing an additional 209 shares in the last quarter. NBC Securities Inc. bought a new position in DICK'S Sporting Goods in the first quarter worth approximately $54,000. Janus Henderson Group PLC grew its stake in DICK'S Sporting Goods by 15.9% in the fourth quarter. Janus Henderson Group PLC now owns 11,640 shares of the sporting goods retailer's stock worth $2,664,000 after purchasing an additional 1,594 shares in the last quarter. Finally, OneDigital Investment Advisors LLC bought a new position in DICK'S Sporting Goods in the first quarter worth approximately $214,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Truist Financial increased their price objective on DICK'S Sporting Goods from $230.00 to $248.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. DA Davidson set a $250.00 price objective on DICK'S Sporting Goods in a research note on Friday, August 29th. JPMorgan Chase & Co. increased their target price on DICK'S Sporting Goods from $195.00 to $235.00 and gave the company a "neutral" rating in a research report on Friday, August 29th. Oppenheimer reaffirmed an "outperform" rating and set a $270.00 target price on shares of DICK'S Sporting Goods in a research report on Friday, August 29th. Finally, Wells Fargo & Company increased their target price on DICK'S Sporting Goods from $215.00 to $220.00 and gave the company an "equal weight" rating in a research report on Friday, August 29th. Ten equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $235.83.

Insider Buying and Selling

In related news, SVP Elizabeth H. Baran sold 1,830 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $204.65, for a total value of $374,509.50. Following the completion of the transaction, the senior vice president owned 12,465 shares in the company, valued at $2,550,962.25. This trade represents a 12.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Navdeep Gupta sold 13,334 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $225.00, for a total value of $3,000,150.00. Following the completion of the transaction, the executive vice president owned 74,444 shares of the company's stock, 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 have sold a total of 69,200 shares of company stock worth $14,462,923 over the last three months. Corporate insiders own 32.55% of the company's stock.

DICK'S Sporting Goods Stock Down 4.1%

NYSE DKS traded down $9.37 during midday trading on Friday, hitting $221.57. 1,850,532 shares of the company traded hands, compared to its average volume of 2,259,393. DICK'S Sporting Goods, Inc. has a 52 week low of $166.37 and a 52 week high of $254.60. The company's 50-day simple moving average is $216.61 and its 200-day simple moving average is $199.72. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.70 and a quick ratio of 0.55. The company has a market cap of $17.75 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 3.31 and a beta of 1.02.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last issued its 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 company had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.61 billion. DICK'S Sporting Goods had a return on equity of 36.54% and a net margin of 8.52%.The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $4.37 EPS. DICK'S Sporting Goods has set its FY 2025 guidance at 13.900-14.500 EPS. As a group, equities research analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a $1.2125 dividend. The ex-dividend date is Friday, September 12th. This represents a $4.85 dividend on an annualized basis and a yield of 2.2%. DICK'S Sporting Goods's dividend payout ratio (DPR) 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.