Mackenzie Financial Corp Has $17.86 Million Holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Key Points

• Mackenzie Financial Corp increased its stake in DICK'S Sporting Goods by 6.1%, owning 88,631 shares valued at approximately $17.86 million.
• Insider sales have occurred recently, with senior vice president Elizabeth H. Baran and EVP Navdeep Gupta each selling shares, resulting in a decrease of 12.80% and 9.58% in their respective positions.
• Several analysts have adjusted their price targets for DICK'S Sporting Goods, with Barclays raising its target from $217.00 to $232.00, while others have downgraded ratings, reflecting a varied outlook on the stock's performance.

Mackenzie Financial Corp boosted its holdings in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,631 shares of the sporting goods retailer's stock after purchasing an additional 5,109 shares during the period. Mackenzie Financial Corp owned about 0.11% of DICK'S Sporting Goods worth $17,864,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Park Square Financial Group LLC bought a new position in shares of DICK'S Sporting Goods in the fourth quarter valued at approximately $27,000. Ancora Advisors LLC bought a new position in shares of DICK'S Sporting Goods in the fourth quarter valued at approximately $28,000. Bessemer Group Inc. raised its stake in shares of 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 valued at $33,000 after acquiring an additional 76 shares during the last quarter. Private Trust Co. NA raised its stake in shares of DICK'S Sporting Goods by 54.1% in the first 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 last quarter. Finally, Golden State Wealth Management LLC raised its stake in shares of DICK'S Sporting Goods by 1,435.7% in the first 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 last quarter. Institutional investors own 89.83% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on DKS. Robert W. Baird cut their target price on shares of DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating for the company in a research note on Friday, May 16th. JPMorgan Chase & Co. dropped their price objective on shares of 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. DA Davidson reiterated a "buy" rating and issued a $230.00 price objective on shares of DICK'S Sporting Goods in a research report on Friday, June 27th. Barclays upped their price target on DICK'S Sporting Goods from $217.00 to $232.00 and gave the company an "overweight" rating in a research note on Thursday, May 29th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $220.00 price target on shares of DICK'S Sporting Goods in a report on Wednesday, May 28th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $221.50.

DICK'S Sporting Goods Trading Down 2.4%

Shares of DKS stock traded down $5.05 on Friday, hitting $206.46. The stock had a trading volume of 1,319,897 shares, compared to its average volume of 1,166,044. DICK'S Sporting Goods, Inc. has a twelve month low of $166.37 and a twelve month high of $254.60. The firm has a market cap of $16.53 billion, a P/E ratio of 14.77, a PEG ratio of 3.02 and a beta of 1.07. The company has a current ratio of 1.62, a quick ratio of 0.47 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average price of $194.89 and a two-hundred day moving average price of $203.33.

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

DICK'S Sporting Goods Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a $1.2125 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $4.85 annualized dividend and a dividend yield of 2.3%. DICK'S Sporting Goods's payout ratio is 34.69%.

Insider Buying and Selling

In related news, Director Robert W. Eddy bought 1,357 shares of DICK'S Sporting Goods stock in a transaction that occurred on Wednesday, June 25th. The stock was purchased at an average cost of $185.31 per share, with a total value of $251,465.67. Following the purchase, the director owned 4,768 shares in the company, valued at approximately $883,558.08. This trade represents a 39.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lauren R. Hobart sold 40,166 shares of the company's 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 completion of the transaction, the chief executive officer directly owned 299,990 shares of the company's stock, valued at approximately $61,371,954.20. The trade was a 11.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,866 shares of company stock worth $11,462,773 over the last ninety days. Insiders own 32.55% of the company's stock.

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.