DICK'S Sporting Goods, Inc. $DKS Shares Purchased by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its holdings in DICK'S Sporting Goods by 175.9%, owning nearly 6,000 shares worth approximately $1.18 million after acquiring an additional 3,797 shares.
• Multiple institutional investors have also boosted their stakes in DICK'S Sporting Goods, with a significant increase of 1,899.2% in holdings by Westfield Capital Management during the same quarter.
• Wall Street analysts have a generally positive outlook for the company, with twelve analysts rating the stock as a buy and a projected average target price of $234.29.

First Citizens Bank & Trust Co. raised its position in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 175.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,956 shares of the sporting goods retailer's stock after acquiring an additional 3,797 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in DICK'S Sporting Goods were worth $1,178,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in DKS. Vanguard Group Inc. grew its holdings in DICK'S Sporting Goods by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 5,850,223 shares of the sporting goods retailer's stock valued at $1,179,171,000 after purchasing an additional 471,217 shares in the last quarter. Wellington Management Group LLP lifted its holdings in DICK'S Sporting Goods by 416.9% in the 1st quarter. Wellington Management Group LLP now owns 2,829,780 shares of the sporting goods retailer's stock worth $570,370,000 after buying an additional 2,282,300 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in DICK'S Sporting Goods by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 899,154 shares of the sporting goods retailer's stock valued at $181,225,000 after buying an additional 17,534 shares during the last quarter. Invesco Ltd. grew its stake in shares of DICK'S Sporting Goods by 36.2% during the first quarter. Invesco Ltd. now owns 808,313 shares of the sporting goods retailer's stock valued at $162,924,000 after acquiring an additional 214,718 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its position in shares of 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 acquiring an additional 599,025 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DKS shares. Truist Financial increased their price target on DICK'S Sporting Goods from $248.00 to $275.00 and gave the company a "buy" rating in a report on Friday, October 17th. Loop Capital set a $215.00 target price on DICK'S Sporting Goods and gave the company a "hold" rating in a research note on Wednesday, July 30th. Weiss Ratings reissued a "buy (b-)" rating on shares of DICK'S Sporting Goods in a research report on Friday. UBS Group upped 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. Finally, DA Davidson increased their price objective on shares of DICK'S Sporting Goods from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday. Twelve research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $234.29.

DICK'S Sporting Goods Stock Performance

DKS stock opened at $225.35 on Friday. The stock's 50 day simple moving average is $224.55 and its 200 day simple moving average is $204.86. DICK'S Sporting Goods, Inc. has a 12-month low of $166.37 and a 12-month high of $254.60. The firm has a market cap of $18.05 billion, a P/E ratio of 15.74, a P/E/G ratio of 3.26 and a beta of 1.06. The company has a current ratio of 1.70, a quick ratio of 0.55 and a debt-to-equity ratio of 0.44.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its quarterly earnings data on Thursday, August 28th. The sporting goods retailer reported $4.38 EPS for the quarter, topping analysts' consensus estimates of $4.30 by $0.08. The firm had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.61 billion. DICK'S Sporting Goods had a net margin of 8.52% and a return on equity of 36.54%. The firm's revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.37 earnings per share. DICK'S Sporting Goods has set its FY 2025 guidance at 13.900-14.500 EPS. As a group, equities research analysts predict that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK'S Sporting Goods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, September 12th. DICK'S Sporting Goods's dividend payout ratio is currently 33.87%.

Insider Activity

In other news, EVP Navdeep Gupta sold 13,334 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $225.00, for a total transaction of $3,000,150.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lauren R. Hobart sold 20,083 shares of the firm's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $220.69, for a total value of $4,432,117.27. Following the completion of the sale, the chief executive officer directly owned 299,990 shares in the company, valued at approximately $66,204,793.10. This trade represents a 6.27% decrease in their position. The disclosure for this sale can be found here. 32.55% of the stock is owned by corporate insiders.

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.

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