DAVENPORT & Co LLC Has $872,000 Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

DAVENPORT & Co LLC raised its position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 53.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DKS. Wealthfront Advisers LLC acquired a new position in shares of DICK'S Sporting Goods during the 4th quarter valued at about $1,893,210,000. Geode Capital Management LLC grew its holdings in DICK'S Sporting Goods by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,057,793 shares of the sporting goods retailer's stock valued at $241,660,000 after buying an additional 15,011 shares during the last quarter. Norges Bank acquired a new stake in DICK'S Sporting Goods in the 4th quarter valued at approximately $221,693,000. Dimensional Fund Advisors LP grew its holdings in DICK'S Sporting Goods by 10.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 881,620 shares of the sporting goods retailer's stock valued at $201,768,000 after buying an additional 86,064 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in DICK'S Sporting Goods by 5.1% in the 4th quarter. JPMorgan Chase & Co. now owns 652,838 shares of the sporting goods retailer's stock valued at $149,396,000 after buying an additional 31,919 shares during the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DICK'S Sporting Goods

In related news, Director Robert W. Eddy bought 1,357 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were purchased at an average price of $185.31 per share, with a total value of $251,465.67. Following the completion of the purchase, the director owned 4,768 shares of the company's stock, valued at $883,558.08. This represents a 39.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Elizabeth H. Baran sold 1,830 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were 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 directly owned 12,465 shares in the company, valued at $2,550,962.25. The trade was a 12.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,563 shares of company stock worth $9,462,628 in the last ninety days. 32.55% of the stock is currently owned by insiders.

DICK'S Sporting Goods Price Performance

DICK'S Sporting Goods stock traded down $1.68 on Tuesday, reaching $205.27. The company's stock had a trading volume of 105,478 shares, compared to its average volume of 1,289,369. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.47 and a current ratio of 1.62. The company has a market cap of $16.43 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 2.94 and a beta of 1.07. The business's fifty day moving average price is $186.21 and its 200 day moving average price is $205.24. DICK'S Sporting Goods, Inc. has a twelve month low of $166.37 and a twelve month high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The sporting goods retailer reported $3.37 EPS for the quarter, hitting analysts' consensus estimates of $3.37. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.12 billion. DICK'S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. Equities analysts expect that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods declared that its board has authorized a stock repurchase plan on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

DICK'S Sporting Goods Announces Dividend

The company also recently declared 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 2.36%. The ex-dividend date of this dividend was Friday, June 13th. DICK'S Sporting Goods's dividend payout ratio is 34.69%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DKS shares. Wedbush reaffirmed a "neutral" rating and issued a $215.00 target price on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. DA Davidson reaffirmed a "buy" rating and issued a $230.00 target price on shares of DICK'S Sporting Goods in a report on Friday, June 27th. Loop Capital decreased their price objective on DICK'S Sporting Goods from $195.00 to $180.00 and set a "hold" rating on the stock in a report on Friday, May 16th. JPMorgan Chase & Co. decreased their price objective on DICK'S Sporting Goods from $224.00 to $195.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Finally, Robert W. Baird decreased their price objective on DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating on the stock in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, DICK'S Sporting Goods has a consensus rating of "Hold" and a consensus target price of $219.56.

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.