DAVENPORT & Co LLC Increases Holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS)

DAVENPORT & Co LLC increased its stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 53.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,326 shares of the sporting goods retailer's stock after purchasing an additional 1,498 shares during the period. DAVENPORT & Co LLC's holdings in DICK'S Sporting Goods were worth $872,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DKS. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in DICK'S Sporting Goods by 3.6% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 15,320 shares of the sporting goods retailer's stock worth $3,088,000 after acquiring an additional 530 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of DICK'S Sporting Goods by 264.3% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 76,610 shares of the sporting goods retailer's stock worth $14,122,000 after purchasing an additional 55,578 shares during the last quarter. Diversified Trust Co purchased a new position in shares of DICK'S Sporting Goods in the 1st quarter worth about $300,000. Alpine Bank Wealth Management bought a new stake in DICK'S Sporting Goods in the 1st quarter worth about $89,000. Finally, Golden State Wealth Management LLC increased its holdings in 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 buying an additional 201 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

DICK'S Sporting Goods Stock Up 2.2%

Shares of DKS traded up $4.53 during midday trading on Thursday, reaching $214.84. 1,411,775 shares of the stock were exchanged, compared to its average volume of 1,297,160. DICK'S Sporting Goods, Inc. has a 52 week low of $166.37 and a 52 week high of $254.60. The company has a current ratio of 1.62, a quick ratio of 0.47 and a debt-to-equity ratio of 0.49. The company's 50 day moving average is $186.99 and its two-hundred day moving average is $205.30. The company has a market capitalization of $17.20 billion, a P/E ratio of 15.37, a PEG ratio of 2.96 and a beta of 1.07.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $3.12 billion. On average, sell-side analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Friday, June 13th. DICK'S Sporting Goods's dividend payout ratio (DPR) is currently 34.69%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DKS shares. TD Cowen downgraded DICK'S Sporting Goods from a "buy" rating to a "hold" rating and set a $216.00 price target for the company. in a research note on Thursday, May 15th. Wells Fargo & Company boosted their price target on DICK'S Sporting Goods from $171.00 to $187.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Wall Street Zen upgraded DICK'S Sporting Goods from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. cut their price target on DICK'S Sporting Goods from $224.00 to $195.00 and set a "neutral" rating for the company in a research note on Thursday, May 29th. Finally, Bank of America cut 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 note on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $219.56.

Insiders Place Their Bets

In related news, CEO Lauren R. Hobart sold 40,166 shares of the firm'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 trade represents a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Julie Lodge-Jarrett sold 1,026 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $203.50, for a total value of $208,791.00. Following the completion of the sale, the executive vice president directly owned 18,139 shares in the company, valued at approximately $3,691,286.50. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,563 shares of company stock valued at $9,462,628. 32.55% of the stock is owned by corporate insiders.

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.