DICK'S Sporting Goods, Inc. $DKS Shares Purchased by Comerica Bank

Key Points

• Comerica Bank increased its stake in DICK'S Sporting Goods by 368.2% during Q1, owning approximately 0.16% of the company worth $26 million.
• DICK'S Sporting Goods reported earnings of $3.37 EPS for the last quarter, meeting analyst expectations, with revenue of $3.16 billion.
• The company announced a quarterly dividend of $1.2125 per share, representing a 2.1% yield, with a payout ratio of 34.69%.

Comerica Bank grew its stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 368.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 129,085 shares of the sporting goods retailer's stock after purchasing an additional 101,514 shares during the quarter. Comerica Bank owned approximately 0.16% of DICK'S Sporting Goods worth $26,019,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DKS. Wellington Management Group LLP raised its holdings in DICK'S Sporting Goods by 416.9% during the first quarter. Wellington Management Group LLP now owns 2,829,780 shares of the sporting goods retailer's stock worth $570,370,000 after purchasing an additional 2,282,300 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in DICK'S Sporting Goods by 1,899.2% during the first quarter. Westfield Capital Management Co. LP now owns 630,566 shares of the sporting goods retailer's stock worth $127,097,000 after purchasing an additional 599,025 shares in the last quarter. Vanguard Group Inc. raised its holdings in DICK'S Sporting Goods by 8.8% during the first quarter. Vanguard Group Inc. now owns 5,850,223 shares of the sporting goods retailer's stock worth $1,179,171,000 after purchasing an additional 471,217 shares in the last quarter. Junto Capital Management LP acquired a new stake in DICK'S Sporting Goods during the fourth quarter worth approximately $89,351,000. Finally, GAMMA Investing LLC raised its holdings in DICK'S Sporting Goods by 24,140.8% during the first quarter. GAMMA Investing LLC now owns 291,859 shares of the sporting goods retailer's stock worth $58,827,000 after purchasing an additional 290,655 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

DICK'S Sporting Goods Price Performance

Shares of NYSE DKS opened at $227.4270 on Monday. The firm has a market capitalization of $18.21 billion, a P/E ratio of 16.27, a PEG ratio of 3.25 and a beta of 1.07. DICK'S Sporting Goods, Inc. has a one year low of $166.37 and a one year high of $254.60. The company's fifty day moving average is $207.23 and its two-hundred day moving average is $200.81. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.47 and a current ratio of 1.62.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last issued its earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 EPS for the quarter, hitting the consensus estimate 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 net margin of 8.49% and a return on equity of 38.06%. DICK'S Sporting Goods has set its FY 2025 guidance at 13.800-14.400 EPS. Analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK'S Sporting Goods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, June 13th. DICK'S Sporting Goods's payout ratio is presently 34.69%.

Insiders Place Their Bets

In related news, EVP Navdeep Gupta sold 13,334 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $225.00, for a total value of $3,000,150.00. Following the sale, the executive vice president directly owned 74,444 shares of the company's stock, valued at approximately $16,749,900. This represents a 15.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Elizabeth H. Baran sold 1,830 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $204.65, for a total transaction of $374,509.50. Following the transaction, the senior vice president owned 12,465 shares of the company's stock, valued at $2,550,962.25. This trade represents a 12.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,200 shares of company stock worth $14,462,923. 32.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of 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. TD Cowen cut shares of 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. Wells Fargo & Company lifted their target price on shares of DICK'S Sporting Goods from $187.00 to $215.00 and gave the company an "equal weight" rating in a report on Thursday, August 14th. 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. Finally, Cowen reaffirmed a "hold" rating on shares of DICK'S Sporting Goods in a report on Monday, August 18th. Nine research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $225.00.

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.

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