Fred Alger Management LLC Has $8.62 Million Holdings in DICK'S Sporting Goods, Inc. $DKS

Key Points

• Fred Alger Management LLC reduced its stake in DICK'S Sporting Goods by 46.6%, selling 37,131 shares and retaining only 42,534 shares, valued at approximately $8.6 million as of the latest SEC filing.
• Insider transactions included CEO Lauren R. Hobart selling 40,166 shares for over $8.2 million, which represented an 11.81% decrease in her ownership stake.
• DICK'S Sporting Goods reported earnings of $4.38 per share for the last quarter, exceeding expectations, and also announced a quarterly dividend of $1.2125 per share, reflecting a 2.2% yield.

Fred Alger Management LLC lowered its stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 46.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,534 shares of the sporting goods retailer's stock after selling 37,131 shares during the period. Fred Alger Management LLC owned 0.05% of DICK'S Sporting Goods worth $8,623,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC bought a new stake in shares of DICK'S Sporting Goods during the 4th quarter worth approximately $27,000. Private Trust Co. NA raised its stake in DICK'S Sporting Goods by 54.1% in the 1st quarter. Private Trust Co. NA now owns 188 shares of the sporting goods retailer's stock valued at $38,000 after acquiring an additional 66 shares during the period. Golden State Wealth Management LLC raised its stake in DICK'S Sporting Goods by 1,435.7% in the 1st quarter. Golden State Wealth Management LLC now owns 215 shares of the sporting goods retailer's stock valued at $43,000 after acquiring an additional 201 shares during the period. Bessemer Group Inc. raised its stake in DICK'S Sporting Goods by 49.3% in the 1st quarter. Bessemer Group Inc. now owns 218 shares of the sporting goods retailer's stock valued at $44,000 after acquiring an additional 72 shares during the period. Finally, Ancora Advisors LLC raised its stake in DICK'S Sporting Goods by 85.4% in the 1st quarter. Ancora Advisors LLC now owns 228 shares of the sporting goods retailer's stock valued at $46,000 after acquiring an additional 105 shares during the period. Institutional investors own 89.83% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on DKS. Wells Fargo & Company increased their price target 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. Truist Financial increased their price target on DICK'S Sporting Goods from $230.00 to $248.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Citigroup upgraded DICK'S Sporting Goods from a "neutral" rating to a "buy" rating and increased their price target for the company from $225.00 to $280.00 in a research note on Tuesday, September 9th. Loop Capital set a $215.00 price target on DICK'S Sporting Goods and gave the company a "hold" rating in a research note on Wednesday, July 30th. Finally, UBS Group increased their price target on DICK'S Sporting Goods from $225.00 to $275.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Ten equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $235.83.

Insider Activity at DICK'S Sporting Goods

In other news, EVP Navdeep Gupta sold 13,334 shares of the stock in a transaction 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert W. Eddy bought 1,280 shares of DICK'S Sporting Goods stock in a transaction dated Thursday, June 26th. The shares were bought at an average cost of $194.99 per share, for a total transaction of $249,587.20. Following the completion of the acquisition, the director owned 6,048 shares in the company, valued at $1,179,299.52. This represents a 26.85% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 69,200 shares of company stock worth $14,462,923 in the last quarter. 32.55% of the stock is currently owned by corporate insiders.

DICK'S Sporting Goods Stock Performance

DKS stock traded down $9.37 during trading hours on Friday, hitting $221.57. 1,850,532 shares of the stock were exchanged, compared to its average volume of 2,293,027. The company has a current ratio of 1.70, a quick ratio of 0.55 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $17.75 billion, a P/E ratio of 15.47, a P/E/G ratio of 3.17 and a beta of 1.02. The company has a 50-day simple moving average of $216.61 and a two-hundred day simple moving average of $199.56. DICK'S Sporting Goods, Inc. has a 12 month low of $166.37 and a 12 month high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $3.65 billion for the quarter, compared to analysts' expectations of $3.61 billion. DICK'S Sporting Goods had a return on equity of 36.54% and a net margin of 8.52%.The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business earned $4.37 EPS. DICK'S Sporting Goods has set its FY 2025 guidance at 13.900-14.500 EPS. On average, 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 announced 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 dividend payout ratio is 33.87%.

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.