Royal Bank of Canada Acquires 3,011 Shares of DICK'S Sporting Goods, Inc. $DKS

Key Points

• Royal Bank of Canada increased its stake in DICK'S Sporting Goods by 5.3% in Q1, now owning approximately 60,082 shares valued at $12.11 million.
• Several institutional investors have significantly altered their positions in DICK'S Sporting Goods, with a total of 89.83% of the stock owned by institutional investors and hedge funds.
• DICK'S Sporting Goods reported a net margin of 8.52% and revenue of $3.65 billion for the last quarter, exceeding analyst estimates.

Royal Bank of Canada boosted its position in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 5.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,082 shares of the sporting goods retailer's stock after buying an additional 3,011 shares during the quarter. Royal Bank of Canada owned approximately 0.08% of DICK'S Sporting Goods worth $12,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of DICK'S Sporting Goods by 8.8% in the first quarter. Vanguard Group Inc. now owns 5,850,223 shares of the sporting goods retailer's stock worth $1,179,171,000 after acquiring an additional 471,217 shares during the period. Wellington Management Group LLP lifted its stake in DICK'S Sporting Goods by 416.9% during the first quarter. Wellington Management Group LLP now owns 2,829,780 shares of the sporting goods retailer's stock worth $570,370,000 after purchasing an additional 2,282,300 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of DICK'S Sporting Goods by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 899,154 shares of the sporting goods retailer's stock worth $181,225,000 after buying an additional 17,534 shares during the period. Invesco Ltd. increased its holdings in shares of DICK'S Sporting Goods by 36.2% in the first quarter. Invesco Ltd. now owns 808,313 shares of the sporting goods retailer's stock worth $162,924,000 after buying an additional 214,718 shares during the period. Finally, Westfield Capital Management Co. LP increased its holdings in shares of DICK'S Sporting Goods by 1,899.2% in the first quarter. Westfield Capital Management Co. LP now owns 630,566 shares of the sporting goods retailer's stock worth $127,097,000 after buying an additional 599,025 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on DKS. Citigroup upgraded DICK'S Sporting Goods from a "neutral" rating to a "buy" rating and boosted their price target for the company from $225.00 to $280.00 in a report on Tuesday, September 9th. UBS Group lifted their price objective on DICK'S Sporting Goods from $225.00 to $275.00 and gave the company a "buy" rating in a research report on Friday, August 29th. DA Davidson set a $250.00 price objective on DICK'S Sporting Goods in a research report on Friday, August 29th. Loop Capital set a $215.00 price objective on DICK'S Sporting Goods and gave the company a "hold" rating in a research report on Wednesday, July 30th. Finally, Oppenheimer reissued an "outperform" rating and issued a $270.00 price target on shares of DICK'S Sporting Goods in a research report on Friday, August 29th. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $235.83.

Insider Transactions at DICK'S Sporting Goods

In other DICK'S Sporting Goods news, SVP Elizabeth H. Baran sold 1,830 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $204.65, for a total value of $374,509.50. Following the completion of the sale, the senior vice president owned 12,465 shares in the company, valued at approximately $2,550,962.25. This represents a 12.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Navdeep Gupta sold 13,334 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $225.00, for a total value of $3,000,150.00. Following the completion of the sale, the executive vice president owned 74,444 shares of the company's stock, valued at $16,749,900. The trade was a 15.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,200 shares of company stock worth $14,462,923 over the last three months. 32.55% of the stock is currently owned by insiders.

DICK'S Sporting Goods Stock Down 4.1%

DKS stock traded down $9.37 during midday trading on Friday, hitting $221.57. The company's stock had a trading volume of 1,850,532 shares, compared to its average volume of 2,259,393. The company has a market cap of $17.75 billion, a PE ratio of 15.47, a P/E/G ratio of 3.31 and a beta of 1.02. The company has a current ratio of 1.70, a quick ratio of 0.55 and a debt-to-equity ratio of 0.44. The firm's 50-day moving average is $216.61 and its 200-day moving average is $199.72. DICK'S Sporting Goods, Inc. has a 12 month low of $166.37 and a 12 month high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its earnings results on Thursday, August 28th. The sporting goods retailer reported $4.38 earnings per share for the quarter, beating analysts' consensus estimates of $4.30 by $0.08. The business had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.61 billion. DICK'S Sporting Goods had a net margin of 8.52% and a return on equity of 36.54%. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $4.37 EPS. DICK'S Sporting Goods has set its FY 2025 guidance at 13.900-14.500 EPS. On average, equities research 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 business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $1.2125 per share. The ex-dividend date is Friday, September 12th. This represents a $4.85 dividend on an annualized basis and a yield of 2.2%. DICK'S Sporting Goods's payout ratio is currently 33.87%.

DICK'S Sporting Goods Company 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.