Lord Abbett & CO. LLC Invests $43.04 Million in DICK'S Sporting Goods, Inc. $DKS

Key Points

• Lord Abbett & CO. LLC purchased 213,555 shares of DICK'S Sporting Goods, valued at approximately $43 million, representing about 0.27% of the company's stock.
• Several large investors, including Westfield Capital Management and GAMMA Investing LLC, significantly increased their holdings in DICK'S Sporting Goods during the first quarter.
• The company recently declared a quarterly dividend of $1.2125 per share, translating to an annual yield of 2.2% and a dividend payout ratio of 34.69%.

Lord Abbett & CO. LLC acquired a new stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 213,555 shares of the sporting goods retailer's stock, valued at approximately $43,044,000. Lord Abbett & CO. LLC owned approximately 0.27% of DICK'S Sporting Goods as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. XTX Topco Ltd acquired a new stake in DICK'S Sporting Goods during the 4th quarter valued at approximately $485,000. Bessemer Group Inc. grew its stake in DICK'S Sporting Goods by 49.3% during the 1st quarter. Bessemer Group Inc. now owns 218 shares of the sporting goods retailer's stock valued at $44,000 after purchasing an additional 72 shares in the last quarter. Fifth Third Bancorp grew its stake in DICK'S Sporting Goods by 27.5% during the 1st quarter. Fifth Third Bancorp now owns 968 shares of the sporting goods retailer's stock valued at $195,000 after purchasing an additional 209 shares in the last quarter. NBC Securities Inc. acquired a new stake in DICK'S Sporting Goods during the 1st quarter valued at approximately $54,000. Finally, Janus Henderson Group PLC grew its stake in DICK'S Sporting Goods by 15.9% during the 4th quarter. Janus Henderson Group PLC now owns 11,640 shares of the sporting goods retailer's stock valued at $2,664,000 after purchasing an additional 1,594 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

Insider Activity

In other DICK'S Sporting Goods news, CEO Lauren R. Hobart sold 40,166 shares of DICK'S Sporting Goods stock in a transaction on Friday, June 27th. The stock was sold at an average price of $204.58, for a total transaction of $8,217,160.28. Following the sale, the chief executive officer owned 299,990 shares of the company's stock, valued at $61,371,954.20. The trade was a 11.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Julie Lodge-Jarrett sold 1,026 shares of DICK'S Sporting Goods stock in a transaction on Friday, June 27th. The shares were sold at an average price of $203.50, for a total value of $208,791.00. Following the sale, the executive vice president directly owned 18,139 shares in the company, valued at $3,691,286.50. The trade was a 5.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,200 shares of company stock worth $14,462,923 over the last ninety days. 32.55% of the stock is currently owned by company insiders.

DICK'S Sporting Goods Stock Performance

Shares of NYSE DKS traded up $1.35 during mid-day trading on Friday, hitting $224.16. The company had a trading volume of 1,177,868 shares, compared to its average volume of 1,141,207. The stock has a market cap of $17.94 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 3.19 and a beta of 1.07. DICK'S Sporting Goods, Inc. has a 12 month low of $166.37 and a 12 month high of $254.60. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.62 and a quick ratio of 0.47. The firm's 50 day simple moving average is $202.94 and its two-hundred day simple moving average is $201.31.

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 for the quarter, meeting the consensus estimate of $3.37. The firm 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%. As a group, equities research analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 2.2%. DICK'S Sporting Goods's payout ratio is presently 34.69%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DKS shares. TD Cowen lowered DICK'S Sporting Goods from a "buy" rating to a "hold" rating and set a $216.00 target price for the company. in a research report on Thursday, May 15th. Bank of America decreased their target price 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, June 24th. JPMorgan Chase & Co. decreased their target price on DICK'S Sporting Goods from $224.00 to $195.00 and set a "neutral" rating for the company in a research report on Thursday, May 29th. Wells Fargo & Company lifted their target price on DICK'S Sporting Goods from $187.00 to $215.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, UBS Group decreased their target price on DICK'S Sporting Goods from $260.00 to $225.00 and set a "buy" rating for the company in a research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $223.06.

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.