DICK'S Sporting Goods, Inc. (NYSE:DKS) Shares Bought by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services LLC increased its stake in DICK'S Sporting Goods by 42.8%, owning 84,342 shares valued at approximately $17 million as of the latest SEC filing.
• DICK'S Sporting Goods posted a quarterly earnings report with $3.37 EPS, meeting expectations, and reported revenue of $3.16 billion, exceeding analyst predictions.
• The company declared a quarterly dividend of $1.2125 per share, yielding about 2.3%, with a dividend payout ratio of 34.69%.

Commonwealth Equity Services LLC increased its stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 42.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,342 shares of the sporting goods retailer's stock after acquiring an additional 25,289 shares during the period. Commonwealth Equity Services LLC owned about 0.11% of DICK'S Sporting Goods worth $17,000,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the business. Wells Fargo & Company MN increased its stake in shares of DICK'S Sporting Goods by 34.1% during the fourth quarter. Wells Fargo & Company MN now owns 121,368 shares of the sporting goods retailer's stock worth $27,774,000 after purchasing an additional 30,874 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of DICK'S Sporting Goods by 10.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 137,071 shares of the sporting goods retailer's stock worth $31,367,000 after purchasing an additional 13,486 shares in the last quarter. FIL Ltd grew its holdings in shares of DICK'S Sporting Goods by 17.4% during the 4th quarter. FIL Ltd now owns 2,037 shares of the sporting goods retailer's stock worth $466,000 after purchasing an additional 302 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of DICK'S Sporting Goods by 678.5% during the 4th quarter. Bank of Nova Scotia now owns 21,861 shares of the sporting goods retailer's stock worth $5,003,000 after purchasing an additional 19,053 shares in the last quarter. Finally, Advisory Services Network LLC grew its holdings in shares of DICK'S Sporting Goods by 53.1% during the 4th quarter. Advisory Services Network LLC now owns 9,169 shares of the sporting goods retailer's stock worth $2,098,000 after purchasing an additional 3,179 shares in the last quarter. Institutional investors own 89.83% of the company's stock.

Insider Activity

In other news, Director Robert W. Eddy purchased 1,357 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were acquired at an average cost of $185.31 per share, for a total transaction of $251,465.67. Following the completion of the purchase, the director directly owned 4,768 shares in the company, valued at $883,558.08. The trade was a 39.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Navdeep Gupta sold 9,303 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $215.00, for a total transaction of $2,000,145.00. Following the sale, the executive vice president directly owned 87,778 shares in the company, valued at approximately $18,872,270. This represents a 9.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,866 shares of company stock worth $11,462,773 in the last three months. 32.55% of the stock is currently owned by corporate insiders.

DICK'S Sporting Goods Price Performance

Shares of DKS traded up $9.95 during mid-day trading on Tuesday, hitting $221.83. 1,119,319 shares of the company were exchanged, compared to its average volume of 1,471,904. The stock has a market cap of $17.76 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 3.01 and a beta of 1.07. 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, Inc. has a 1-year low of $166.37 and a 1-year high of $254.60. The company has a 50 day moving average of $199.31 and a 200-day moving average of $201.97.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share for the quarter, meeting the consensus estimate of $3.37. DICK'S Sporting Goods had a net margin of 8.49% and a return on equity of 38.06%. The business had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.12 billion. Analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $1.2125 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.2%. DICK'S Sporting Goods's dividend payout ratio (DPR) is presently 34.69%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $220.00 target price on shares of DICK'S Sporting Goods in a report on Wednesday, May 28th. Bank of America dropped their target price on DICK'S Sporting Goods from $250.00 to $240.00 and set a "buy" rating on the stock in a report on Tuesday, June 24th. Wells Fargo & Company upped their target price on DICK'S Sporting Goods from $171.00 to $187.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Gordon Haskett upgraded DICK'S Sporting Goods from a "reduce" rating to a "hold" rating in a research note on Friday, July 25th. Finally, Barclays raised their price target on DICK'S Sporting Goods from $217.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $221.50.

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.