Peregrine Asset Advisers Inc. Takes $4.68 Million Position in DICK'S Sporting Goods, Inc. $DKS

Key Points

• Peregrine Asset Advisers opened a new position in DICK'S Sporting Goods during Q1, buying 23,626 shares worth about $4.68 million. The stock now makes up roughly 1.3% of its portfolio.
• Several other institutional investors also increased or initiated stakes, and overall 89.83% of DKS shares are held by institutions and hedge funds. Meanwhile, EVP Julie Lodge-Jarrett sold 4,140 shares in mid-April, trimming her ownership by 14.33%.
• Wall Street sentiment remains upbeat: multiple analysts recently raised price targets, with the consensus rating at Moderate Buy and an average target of $254.71. DICK'S also reported revenue ahead of estimates in its latest quarter and recently paid a $1.25 quarterly dividend.

Peregrine Asset Advisers Inc. purchased a new position in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 23,626 shares of the sporting goods retailer's stock, valued at approximately $4,685,000. DICK'S Sporting Goods comprises approximately 1.3% of Peregrine Asset Advisers Inc.'s investment portfolio, making the stock its 26th largest position.

A number of other institutional investors have also made changes to their positions in DKS. Wendell David Associates Inc. lifted its stake in DICK'S Sporting Goods by 3.8% in the first quarter. Wendell David Associates Inc. now owns 10,141 shares of the sporting goods retailer's stock valued at $2,011,000 after buying an additional 375 shares during the period. Harbor Investment Advisory LLC acquired a new position in shares of DICK'S Sporting Goods during the 1st quarter worth about $30,000. Dupree Financial Group LLC bought a new stake in shares of DICK'S Sporting Goods in the 1st quarter valued at about $3,677,000. Tred Avon Family Wealth LLC bought a new stake in shares of DICK'S Sporting Goods in the 1st quarter valued at about $298,000. Finally, MeadowBrook Investment Advisors LLC increased its stake in shares of DICK'S Sporting Goods by 44.5% in the 1st quarter. MeadowBrook Investment Advisors LLC now owns 1,120 shares of the sporting goods retailer's stock valued at $222,000 after acquiring an additional 345 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DICK'S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 4,140 shares of the business's stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $223.56, for a total value of $925,538.40. Following the sale, the executive vice president directly owned 24,757 shares in the company, valued at $5,534,674.92. The trade was a 14.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 28.91% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DKS shares. Wells Fargo & Company reissued a "positive" rating on shares of DICK'S Sporting Goods in a research note on Thursday, May 28th. BTIG Research reaffirmed a "buy" rating and issued a $300.00 target price on shares of DICK'S Sporting Goods in a research note on Thursday, May 28th. Truist Financial increased their target price on shares of DICK'S Sporting Goods from $252.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Morgan Stanley lifted their price target on shares of DICK'S Sporting Goods from $250.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, May 28th. Finally, JPMorgan Chase & Co. raised shares of DICK'S Sporting Goods from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $240.00 to $270.00 in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $254.71.

DICK'S Sporting Goods Trading Up 2.8%

NYSE:DKS opened at $236.19 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.50 and a quick ratio of 0.38. The business's 50-day simple moving average is $224.56 and its 200-day simple moving average is $211.81. DICK'S Sporting Goods, Inc. has a fifty-two week low of $186.67 and a fifty-two week high of $244.38. The stock has a market capitalization of $21.14 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 2.00 and a beta of 1.19.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its earnings results on Wednesday, May 27th. The sporting goods retailer reported $2.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.91 by ($0.01). DICK'S Sporting Goods had a return on equity of 22.22% and a net margin of 4.71%.The business had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.07 billion. DICK'S Sporting Goods's revenue for the quarter was up 62.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.37 earnings per share. DICK'S Sporting Goods has set its FY 2026 guidance at 13.500-14.500 EPS. Sell-side analysts expect that DICK'S Sporting Goods, Inc. will post 14.24 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 26th. Shareholders of record on Friday, June 12th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $5.00 annualized dividend and a dividend yield of 2.1%. DICK'S Sporting Goods's dividend payout ratio (DPR) is currently 47.53%.

About DICK'S Sporting Goods

DICK'S Sporting Goods is a leading U.S.-based sporting goods retailer that sells a broad range of sports equipment, apparel, footwear and outdoor gear. The company operates an omnichannel business combining physical stores with digital sales, offering products for team sports, fitness, hunting and fishing, golf, and general active lifestyle categories. In addition to its flagship DICK'S stores, the company operates specialty formats such as Golf Galaxy and branded service offerings including team-sports sales and custom equipment solutions.

The company traces its roots to a single sporting goods outlet founded in 1948 and has since grown into a national retail chain serving customers across the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.