Gateway Investment Advisers LLC Reduces Position in DICK'S Sporting Goods, Inc. $DKS

Key Points

• Gateway Investment Advisers LLC reduced its stake in DICK'S Sporting Goods by 7.1% during the second quarter, owning 26,941 shares valued at $5.3 million after selling 2,058 shares.
• DICK'S Sporting Goods reported earnings per share of $4.38 for the quarter, exceeding estimates, with quarterly revenue of $3.65 billion, marking a 5% year-over-year increase.
• The company recently declared a quarterly dividend of $1.2125, resulting in an annualized dividend yield of 2.2% and a payout ratio of 33.87%.

Gateway Investment Advisers LLC reduced its holdings in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 7.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 26,941 shares of the sporting goods retailer's stock after selling 2,058 shares during the period. Gateway Investment Advisers LLC's holdings in DICK'S Sporting Goods were worth $5,329,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in DICK'S Sporting Goods by 416.9% in the 1st 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 boosted its stake in shares of 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 purchasing an additional 599,025 shares in the last quarter. Vanguard Group Inc. increased its holdings in DICK'S Sporting Goods by 8.8% in the first quarter. Vanguard Group Inc. now owns 5,850,223 shares of the sporting goods retailer's stock worth $1,179,171,000 after purchasing an additional 471,217 shares in the last quarter. GAMMA Investing LLC grew its holdings in DICK'S Sporting Goods by 24,140.8% during the first quarter. GAMMA Investing LLC now owns 291,859 shares of the sporting goods retailer's stock worth $58,827,000 after buying an additional 290,655 shares in the last quarter. Finally, Champlain Investment Partners LLC purchased a new stake in DICK'S Sporting Goods during the 1st quarter worth about $45,734,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Cowen reaffirmed a "hold" rating on shares of DICK'S Sporting Goods in a report on Monday, August 18th. Barclays boosted their target price on DICK'S Sporting Goods from $232.00 to $246.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Morgan Stanley upped their target price on shares of DICK'S Sporting Goods from $232.00 to $253.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Bank of America reduced their target price on DICK'S Sporting Goods from $250.00 to $240.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. Finally, Truist Financial boosted their price objective on 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. Ten research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $235.83.

Insider Buying and Selling

In other DICK'S Sporting Goods news, 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 value of $208,791.00. Following the completion of the transaction, the executive vice president directly owned 18,139 shares in the company, valued at approximately $3,691,286.50. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Eddy acquired 1,280 shares of DICK'S Sporting Goods stock in a transaction on Thursday, June 26th. The stock was purchased at an average cost of $194.99 per share, with a total value of $249,587.20. Following the purchase, the director directly owned 6,048 shares of the company's stock, valued at approximately $1,179,299.52. This trade represents a 26.85% increase in their position. The disclosure for this purchase can be found here. Insiders sold 69,200 shares of company stock valued at $14,462,923 in the last ninety days. Company insiders own 32.55% of the company's stock.

DICK'S Sporting Goods Price Performance

Shares of DKS traded down $5.15 during midday trading on Friday, hitting $222.06. 1,972,666 shares of the company traded hands, compared to its average volume of 2,292,784. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.55 and a current ratio of 1.70. DICK'S Sporting Goods, Inc. has a 52 week low of $166.37 and a 52 week high of $254.60. The stock has a market cap of $17.79 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 3.18 and a beta of 1.02. The firm has a 50 day moving average of $218.01 and a 200-day moving average of $199.93.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last issued its earnings results on Thursday, August 28th. The sporting goods retailer reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.30 by $0.08. The firm had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.61 billion. DICK'S Sporting Goods had a net margin of 8.52% and a return on equity of 36.54%. The firm's revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company posted $4.37 earnings per share. 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 EPS for the current fiscal year.

DICK'S Sporting Goods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis 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%.

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.