Alliancebernstein L.P. Grows Stock Position in DICK'S Sporting Goods, Inc. $DKS

Key Points

• Alliancebernstein L.P. increased its stake in DICK'S Sporting Goods by 54.7%, owning 266,662 shares worth approximately $53.7 million at the end of Q1.
• Several institutional investors, including Vanguard Group Inc. and Wellington Management Group LLP, have also significantly raised their holdings, contributing to a total institutional ownership of 89.83%.
• DICK'S Sporting Goods reported a quarterly EPS of $4.38, exceeding expectations, and announced a dividend of $1.2125 per share, reflecting a yield of 2.2%.

Alliancebernstein L.P. boosted its stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 54.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 266,662 shares of the sporting goods retailer's stock after buying an additional 94,288 shares during the period. Alliancebernstein L.P. owned 0.33% of DICK'S Sporting Goods worth $53,748,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position 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 valued at $570,370,000 after buying an additional 2,282,300 shares during the period. Westfield Capital Management Co. LP lifted its position 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 valued at $127,097,000 after buying an additional 599,025 shares during the period. Vanguard Group Inc. lifted its position 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 valued at $1,179,171,000 after buying an additional 471,217 shares during the period. Junto Capital Management LP purchased a new position in DICK'S Sporting Goods during the 4th quarter valued at about $89,351,000. Finally, GAMMA Investing LLC lifted its position in DICK'S Sporting Goods by 24,140.8% during the 1st quarter. GAMMA Investing LLC now owns 291,859 shares of the sporting goods retailer's stock valued at $58,827,000 after acquiring an additional 290,655 shares during the period. Hedge funds and other institutional investors own 89.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DKS shares. Truist Financial lifted their price target on shares of DICK'S Sporting Goods from $230.00 to $248.00 and gave the company a "buy" rating in a research report on Friday, August 29th. DA Davidson set a $250.00 target price on shares of DICK'S Sporting Goods in a report on Friday, August 29th. Wells Fargo & Company lifted their price objective on DICK'S Sporting Goods from $215.00 to $220.00 and gave the company an "equal weight" rating in a research note on Friday, August 29th. TD Cowen cut DICK'S Sporting Goods from a "buy" rating to a "hold" rating and set a $216.00 price objective for the company. in a research note on Thursday, May 15th. Finally, Citigroup upgraded DICK'S Sporting Goods from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $225.00 to $280.00 in a research note on Tuesday. Ten research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $235.83.

DICK'S Sporting Goods Stock Down 2.1%

NYSE DKS traded down $4.76 during mid-day trading on Friday, reaching $224.96. The stock had a trading volume of 527,324 shares, compared to its average volume of 1,568,261. DICK'S Sporting Goods, Inc. has a 1 year low of $166.37 and a 1 year high of $254.60. The company has a fifty day moving average price of $216.30 and a 200 day moving average price of $199.89. 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 stock has a market cap of $18.02 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 3.25 and a beta of 1.02.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its quarterly earnings results on Thursday, August 28th. The sporting goods retailer reported $4.38 earnings per share for the quarter, topping 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 firm had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.61 billion. During the same quarter in the previous year, the business earned $4.37 earnings per share. The company'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. On average, research analysts expect that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, September 12th. DICK'S Sporting Goods's payout ratio is presently 33.87%.

Insider Activity

In other DICK'S Sporting Goods news, EVP Julie Lodge-Jarrett sold 3,541 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $187.00, for a total transaction of $662,167.00. Following the completion of the sale, the executive vice president directly owned 19,165 shares in the company, valued at approximately $3,583,855. The trade was a 15.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Navdeep Gupta sold 13,334 shares of the business's stock in a transaction on 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 sale, the executive vice president 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 disclosure for this sale can be found here. Insiders sold 69,200 shares of company stock valued at $14,462,923 over the last three months. Corporate insiders own 32.55% of the company's stock.

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.