Envestnet Portfolio Solutions Inc. Sells 6,927 Shares of DICK'S Sporting Goods, Inc. (NYSE:DKS)

Envestnet Portfolio Solutions Inc. cut its holdings in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 65.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,685 shares of the sporting goods retailer's stock after selling 6,927 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in DICK'S Sporting Goods were worth $743,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Park Square Financial Group LLC purchased a new stake in shares of DICK'S Sporting Goods during the 4th quarter valued at about $27,000. Ancora Advisors LLC bought a new position in DICK'S Sporting Goods during the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new position in DICK'S Sporting Goods during the fourth quarter valued at approximately $30,000. Bessemer Group Inc. boosted its holdings in DICK'S Sporting Goods by 108.6% in the fourth quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock worth $33,000 after purchasing an additional 76 shares during the last quarter. Finally, Promus Capital LLC bought a new stake in DICK'S Sporting Goods in the 4th quarter worth approximately $48,000. 89.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on DKS shares. DA Davidson decreased their target price on shares of DICK'S Sporting Goods from $273.00 to $230.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Bank of America reduced their price objective on DICK'S Sporting Goods from $250.00 to $240.00 and set a "buy" rating for the company in a research report on Tuesday. Wells Fargo & Company increased 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. Guggenheim restated a "neutral" rating on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Finally, Wall Street Zen raised shares of DICK'S Sporting Goods from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $219.56.

DICK'S Sporting Goods Stock Up 4.2%

DKS opened at $185.71 on Thursday. The stock has a market cap of $14.87 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 2.54 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. The firm's fifty day moving average is $183.25 and its 200 day moving average is $206.31. DICK'S Sporting Goods, Inc. has a fifty-two week low of $166.37 and a fifty-two week high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The sporting goods retailer reported $3.37 EPS for the quarter, meeting the consensus estimate of $3.37. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.12 billion. DICK'S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. On average, sell-side analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Friday, June 13th. DICK'S Sporting Goods's payout ratio is currently 34.69%.

DICK'S Sporting Goods declared that its Board of Directors has authorized a share buyback program on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the sporting goods retailer to buy up to 18.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

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.

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