Envestnet Portfolio Solutions Inc. Has $743,000 Stake in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Envestnet Portfolio Solutions Inc. trimmed its position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 65.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new position in DICK'S Sporting Goods during the fourth quarter worth $27,000. Ancora Advisors LLC acquired a new position in DICK'S Sporting Goods during the fourth quarter worth $28,000. Rialto Wealth Management LLC acquired a new position in DICK'S Sporting Goods during the fourth quarter worth $30,000. Bessemer Group Inc. increased its holdings in DICK'S Sporting Goods by 108.6% during the fourth quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock worth $33,000 after buying an additional 76 shares during the last quarter. Finally, Promus Capital LLC acquired a new position in shares of DICK'S Sporting Goods in the fourth quarter valued at $48,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DKS shares. TD Cowen downgraded shares of DICK'S Sporting Goods from a "buy" rating to a "hold" rating and set a $216.00 price objective on the stock. in a report on Thursday, May 15th. Bank of America decreased their price objective on shares of 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. Gordon Haskett downgraded shares of DICK'S Sporting Goods from a "buy" rating to a "reduce" rating and set a $170.00 price objective on the stock. in a report on Friday, May 16th. UBS Group decreased their price objective on shares of DICK'S Sporting Goods from $260.00 to $225.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Finally, Stifel Nicolaus decreased their price objective on shares of DICK'S Sporting Goods from $226.00 to $192.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $219.56.

DICK'S Sporting Goods Stock Performance

Shares of DICK'S Sporting Goods stock traded up $7.10 during trading on Friday, reaching $202.98. The company's stock had a trading volume of 3,979,568 shares, compared to its average volume of 1,286,729. The business's 50-day moving average price is $183.82 and its 200-day moving average price is $205.91. The firm has a market cap of $16.25 billion, a PE ratio of 14.52, a P/E/G ratio of 2.89 and a beta of 1.07. DICK'S Sporting Goods, Inc. has a 52 week low of $166.37 and a 52 week high of $254.60. The company has a quick ratio of 0.47, a current ratio of 1.62 and a debt-to-equity ratio of 0.49.

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

DICK'S Sporting Goods Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid 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 yield of 2.39%. DICK'S Sporting Goods's payout ratio is 34.69%.

DICK'S Sporting Goods announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Robert W. Eddy acquired 1,280 shares of DICK'S Sporting Goods stock in a transaction on Thursday, June 26th. The shares were purchased at an average cost of $194.99 per share, for a total transaction of $249,587.20. Following the completion of the purchase, the director now directly owns 6,048 shares of the company's stock, valued at approximately $1,179,299.52. This represents a 26.85% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Julie Lodge-Jarrett sold 1,026 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $203.50, for a total transaction of $208,791.00. Following the sale, the executive vice president now owns 18,139 shares in the company, valued at $3,691,286.50. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 32.55% of the company's stock.

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.