MeadowBrook Investment Advisors LLC Makes New $266,000 Investment in DICK'S Sporting Goods, Inc. (NYSE:DKS)

MeadowBrook Investment Advisors LLC bought a new position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,320 shares of the sporting goods retailer's stock, valued at approximately $266,000.

A number of other institutional investors have also made changes to their positions in DKS. DekaBank Deutsche Girozentrale boosted its stake in DICK'S Sporting Goods by 17.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 16,066 shares of the sporting goods retailer's stock valued at $3,181,000 after purchasing an additional 2,429 shares during the period. Stratos Wealth Partners LTD. boosted its stake in DICK'S Sporting Goods by 40.8% in the 1st quarter. Stratos Wealth Partners LTD. now owns 1,538 shares of the sporting goods retailer's stock valued at $310,000 after purchasing an additional 446 shares during the period. Crossmark Global Holdings Inc. boosted its stake in DICK'S Sporting Goods by 17.0% in the 1st quarter. Crossmark Global Holdings Inc. now owns 4,015 shares of the sporting goods retailer's stock valued at $809,000 after purchasing an additional 582 shares during the period. IFM Investors Pty Ltd boosted its stake in DICK'S Sporting Goods by 7.6% in the 1st quarter. IFM Investors Pty Ltd now owns 11,632 shares of the sporting goods retailer's stock valued at $2,428,000 after purchasing an additional 818 shares during the period. Finally, OneDigital Investment Advisors LLC bought a new stake in DICK'S Sporting Goods in the 1st quarter valued at $214,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DICK'S Sporting Goods

In related news, EVP Navdeep Gupta sold 9,303 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $215.00, for a total transaction of $2,000,145.00. Following the completion of the sale, the executive vice president owned 87,778 shares of the company's stock, valued at $18,872,270. This trade represents a 9.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lauren R. Hobart sold 40,166 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $204.58, for a total value of $8,217,160.28. Following the sale, the chief executive officer directly owned 299,990 shares of the company's stock, valued at $61,371,954.20. This represents a 11.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,866 shares of company stock valued at $11,462,773 over the last ninety days. Insiders own 32.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DKS shares. Loop Capital cut their target price on DICK'S Sporting Goods from $195.00 to $180.00 and set a "hold" rating for the company in a research report on Friday, May 16th. DA Davidson restated a "buy" rating and set a $230.00 price objective on shares of DICK'S Sporting Goods in a research report on Friday, June 27th. Wells Fargo & Company upped their price objective on DICK'S Sporting Goods from $171.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Gordon Haskett downgraded DICK'S Sporting Goods from a "buy" rating to a "reduce" rating and set a $170.00 price objective for the company. in a research report on Friday, May 16th. Finally, Robert W. Baird dropped their price objective on DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating for the company in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, DICK'S Sporting Goods currently has a consensus rating of "Hold" and a consensus price target of $219.56.

DICK'S Sporting Goods Trading Down 2.2%

Shares of DKS stock traded down $4.74 on Friday, hitting $209.89. The company had a trading volume of 1,261,281 shares, compared to its average volume of 1,295,160. The firm has a market cap of $16.80 billion, a P/E ratio of 15.01, a P/E/G ratio of 3.00 and a beta of 1.07. The stock's 50-day moving average is $187.86 and its two-hundred day moving average is $204.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.47 and a current ratio of 1.62. DICK'S Sporting Goods, Inc. has a twelve month low of $166.37 and a twelve month high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last issued its quarterly 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 company had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.12 billion. DICK'S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. On average, equities research analysts anticipate 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 firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors 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 2.31%. DICK'S Sporting Goods's dividend payout ratio is currently 34.69%.

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.