The Manufacturers Life Insurance Company Has $66.09 Million Position in DICK'S Sporting Goods, Inc. $DKS

Key Points

• The Manufacturers Life Insurance Company increased its ownership in DICK'S Sporting Goods by 0.9%, holding approximately 0.41% of the company, valued at $66.09 million.
• Research analysts are optimistic about DICK'S, with UBS raising its target price from $225.00 to $275.00, and Morgan Stanley raising it from $232.00 to $253.00, while consensus ratings lean toward a "Hold."
• DICK'S Sporting Goods reported earnings of $4.38 per share for the latest quarter, exceeding expectations and reflecting a 5% year-over-year revenue increase.

The Manufacturers Life Insurance Company grew its stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 327,891 shares of the sporting goods retailer's stock after purchasing an additional 2,807 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.41% of DICK'S Sporting Goods worth $66,090,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of DKS. Park Square Financial Group LLC purchased a new stake in DICK'S Sporting Goods in the fourth quarter worth about $27,000. Ancora Advisors LLC purchased a new stake in DICK'S Sporting Goods in the fourth quarter worth $28,000. Private Trust Co. NA raised its holdings in DICK'S Sporting Goods by 54.1% in the first quarter. Private Trust Co. NA now owns 188 shares of the sporting goods retailer's stock worth $38,000 after purchasing an additional 66 shares in the last quarter. Golden State Wealth Management LLC lifted its position in 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 buying an additional 201 shares during the period. Finally, Bessemer Group Inc. boosted its holdings 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 valued at $44,000 after buying an additional 72 shares in the last quarter. 89.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Oppenheimer reiterated an "outperform" rating and issued a $270.00 price target on shares of DICK'S Sporting Goods in a research note on Friday, August 29th. Barclays upped their price target on DICK'S Sporting Goods from $232.00 to $246.00 and gave the stock an "overweight" rating in a research note on Tuesday. TD Cowen downgraded DICK'S Sporting Goods from a "buy" rating to a "hold" rating and set a $216.00 target price on the stock. in a report on Thursday, May 15th. Bank of America cut their target price on DICK'S Sporting Goods from $250.00 to $240.00 and set a "buy" rating on the stock in a research note on Tuesday, June 24th. Finally, Morgan Stanley lifted their price target on DICK'S Sporting Goods from $232.00 to $253.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th. Ten analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $235.00.

Insider Activity at DICK'S Sporting Goods

In other DICK'S Sporting Goods news, Director Robert W. Eddy bought 1,357 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were bought at an average price of $185.31 per share, for a total transaction of $251,465.67. Following the completion of the acquisition, the director owned 4,768 shares of the company's stock, valued at approximately $883,558.08. This trade represents a 39.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Julie Lodge-Jarrett sold 3,541 shares of the business's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $187.00, for a total value of $662,167.00. Following the sale, the executive vice president owned 19,165 shares of the company's stock, valued at approximately $3,583,855. The trade was a 15.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,200 shares of company stock valued at $14,462,923. Insiders own 32.55% of the company's stock.

DICK'S Sporting Goods Trading Up 5.7%

Shares of NYSE DKS traded up $11.98 during mid-day trading on Thursday, hitting $222.18. 2,011,296 shares of the company traded hands, compared to its average volume of 1,546,342. DICK'S Sporting Goods, Inc. has a 1 year low of $166.37 and a 1 year high of $254.60. The stock has a market capitalization of $17.79 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 3.11 and a beta of 1.02. The company has a quick ratio of 0.47, a current ratio of 1.70 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average of $213.72 and a two-hundred day moving average of $200.13.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its earnings results on Thursday, August 28th. The sporting goods retailer reported $4.38 EPS for the quarter, beating the consensus estimate 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 business had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the prior year, the business posted $4.37 earnings per share. DICK'S Sporting Goods's revenue was up 5.0% compared to the same quarter last year. DICK'S Sporting Goods has set its FY 2025 guidance at 13.900-14.500 EPS. On average, sell-side analysts anticipate 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 firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a $1.2125 dividend. This represents a $4.85 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, September 12th. 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.