Occidental Asset Management LLC Invests $2.34 Million in DICK'S Sporting Goods, Inc. $DKS

Key Points

• Occidental Asset Management LLC has invested approximately $2.34 million in DICK'S Sporting Goods, acquiring 11,822 shares as part of its new position.
• Several analysts have rated DICK'S Sporting Goods stock with a consensus rating of "Moderate Buy" and an average price target of $235.83.
• The company recently announced a quarterly dividend of $1.2125, translating to an annual yield of 2.2% and a payout ratio of 33.87%.

Occidental Asset Management LLC bought a new position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,822 shares of the sporting goods retailer's stock, valued at approximately $2,339,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Park Square Financial Group LLC purchased a new stake in DICK'S Sporting Goods in the 4th quarter valued at about $27,000. Private Trust Co. NA increased 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 buying an additional 66 shares during the last quarter. Golden State Wealth Management LLC increased 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 buying an additional 201 shares during the last quarter. Bessemer Group Inc. increased 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 buying an additional 72 shares during the last quarter. Finally, Ancora Advisors LLC increased 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 buying an additional 105 shares during the last quarter. 89.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. DA Davidson set a $250.00 price objective on shares of DICK'S Sporting Goods in a research note on Friday, August 29th. JPMorgan Chase & Co. raised their price target on shares of DICK'S Sporting Goods from $195.00 to $235.00 and gave the stock a "neutral" rating in a research note on Friday, August 29th. Loop Capital set a $215.00 price target on shares of DICK'S Sporting Goods and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Wells Fargo & Company raised their price target on shares of DICK'S Sporting Goods from $215.00 to $220.00 and gave the stock an "equal weight" rating in a research note on Friday, August 29th. Finally, UBS Group raised their price objective on shares of DICK'S Sporting Goods from $225.00 to $275.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $235.83.

Insider Buying and Selling

In other DICK'S Sporting Goods news, Director Robert W. Eddy bought 1,357 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were bought at an average price of $185.31 per share, for a total transaction of $251,465.67. Following the transaction, the director directly owned 4,768 shares in the company, valued at $883,558.08. This trade represents a 39.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Julie Lodge-Jarrett sold 3,541 shares of DICK'S Sporting Goods stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $187.00, for a total transaction of $662,167.00. Following the completion of the transaction, the executive vice president owned 19,165 shares in the company, valued at approximately $3,583,855. The trade was a 15.59% 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 90 days. Insiders own 32.55% of the company's stock.

DICK'S Sporting Goods Stock Performance

DICK'S Sporting Goods stock opened at $219.84 on Tuesday. The firm's fifty day moving average price is $218.23 and its 200-day moving average price is $199.86. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.55 and a current ratio of 1.70. The stock has a market cap of $17.61 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 3.18 and a beta of 1.02. DICK'S Sporting Goods, Inc. has a fifty-two week low of $166.37 and a fifty-two week 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, beating 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 net margin of 8.52% and a return on equity of 36.54%. The business's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company posted $4.37 EPS. DICK'S Sporting Goods has set its FY 2025 guidance at 13.900-14.500 EPS. On average, equities research analysts expect 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 will be paid on Friday, September 26th. Investors 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 yield of 2.2%. The ex-dividend date is Friday, September 12th. DICK'S Sporting Goods's dividend payout ratio (DPR) is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.