DICK'S Sporting Goods, Inc. $DKS Shares Sold by Tensile Capital Management LP

Key Points

• Tensile Capital Management LP has reduced its stake in DICK'S Sporting Goods by 11.2% during Q1, now holding 378,844 shares, which accounts for 9.7% of its portfolio.
• DICK'S Sporting Goods reported $4.38 earnings per share (EPS) for the latest quarter, exceeding analyst estimates, with a revenue of $3.65 billion.
• The company announced a quarterly dividend of $1.2125 per share, resulting in an annualized yield of 2.2%, payable on September 26th.

Tensile Capital Management LP trimmed its position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 11.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 378,844 shares of the sporting goods retailer's stock after selling 48,000 shares during the quarter. DICK'S Sporting Goods accounts for approximately 9.7% of Tensile Capital Management LP's portfolio, making the stock its 2nd largest holding. Tensile Capital Management LP owned about 0.47% of DICK'S Sporting Goods worth $76,360,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Bessemer Group Inc. raised its position in shares of DICK'S Sporting Goods by 49.3% during the 1st quarter. Bessemer Group Inc. now owns 218 shares of the sporting goods retailer's stock worth $44,000 after purchasing an additional 72 shares during the last quarter. Fifth Third Bancorp raised its position 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 valued at $195,000 after purchasing an additional 209 shares during the period. NBC Securities Inc. acquired a new stake in DICK'S Sporting Goods in the first quarter valued at approximately $54,000. Janus Henderson Group PLC grew its position 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 valued at $2,664,000 after acquiring an additional 1,594 shares in the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new stake in DICK'S Sporting Goods in the first quarter valued at approximately $214,000. Institutional investors and hedge funds own 89.83% of the company's stock.

Insider Transactions at DICK'S Sporting Goods

In other news, EVP Navdeep Gupta sold 13,334 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $225.00, for a total transaction of $3,000,150.00. Following the completion of the sale, the executive vice president owned 74,444 shares in the company, valued at approximately $16,749,900. This trade represents a 15.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Lauren R. Hobart sold 40,166 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $204.58, for a total transaction of $8,217,160.28. Following the completion of the transaction, the chief executive officer owned 299,990 shares in the company, valued at approximately $61,371,954.20. This trade represents a 11.81% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,200 shares of company stock worth $14,462,923. 32.55% of the stock is currently owned by company insiders.

DICK'S Sporting Goods Price Performance

Shares of DICK'S Sporting Goods stock traded down $4.73 during midday trading on Friday, hitting $225.00. 598,683 shares of the company were exchanged, compared to its average volume of 1,568,675. 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 debt-to-equity ratio of 0.44, a current ratio of 1.70 and a quick ratio of 0.55. The firm has a 50 day simple moving average of $216.30 and a 200-day simple moving average of $199.89. The firm has a market cap of $18.02 billion, a P/E ratio of 15.72, a PEG ratio of 3.25 and a beta of 1.02.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its quarterly earnings results on Thursday, August 28th. The sporting goods retailer reported $4.38 earnings per share for the quarter, beating analysts' consensus estimates of $4.30 by $0.08. DICK'S Sporting Goods had a return on equity of 36.54% and a net margin of 8.52%.The firm had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.61 billion. During the same period last year, the firm posted $4.37 EPS. The business's revenue was up 5.0% on a year-over-year basis. DICK'S Sporting Goods has set its FY 2025 guidance at 13.900-14.500 EPS. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $1.2125 per share. The ex-dividend date is Friday, September 12th. This represents a $4.85 annualized dividend and a yield of 2.2%. DICK'S Sporting Goods's payout ratio is currently 33.87%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Loop Capital set a $215.00 target price on shares of DICK'S Sporting Goods and gave the company a "hold" rating in a research note on Wednesday, July 30th. Gordon Haskett raised shares of DICK'S Sporting Goods from a "reduce" rating to a "hold" rating in a report on Friday, July 25th. Telsey Advisory Group restated an "outperform" rating and issued a $255.00 price objective on shares of DICK'S Sporting Goods in a report on Monday. Wells Fargo & Company lifted their target price on DICK'S Sporting Goods from $215.00 to $220.00 and gave the stock an "equal weight" rating in a report on Friday, August 29th. Finally, UBS Group boosted their price target on shares of DICK'S Sporting Goods from $225.00 to $275.00 and gave the company a "buy" rating in a report on Friday, August 29th. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $235.83.

DICK'S Sporting Goods Company 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.