Sei Investments Co. Reduces Stock Position in DICK'S Sporting Goods, Inc. $DKS

Key Points

• Sei Investments Co. holds an $11.44 million stake in DICK'S Sporting Goods, having decreased its shareholdings by 4.3% in the most recent quarter.
• Institutional investors own 89.83% of the company's stock, reflecting significant confidence in DICK'S performance.
• DICK'S Sporting Goods recently declared a quarterly dividend of $1.2125 per share, translating to an annualized yield of 2.2%.

Sei Investments Co. trimmed its stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 4.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,936 shares of the sporting goods retailer's stock after selling 2,380 shares during the quarter. Sei Investments Co. owned 0.07% of DICK'S Sporting Goods worth $11,436,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new stake in DICK'S Sporting Goods in the fourth quarter worth about $27,000. Ancora Advisors LLC purchased a new stake in shares of DICK'S Sporting Goods during the fourth quarter worth about $28,000. Bessemer Group Inc. grew its position in shares of DICK'S Sporting Goods by 108.6% during the fourth quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock worth $33,000 after purchasing an additional 76 shares in the last quarter. Private Trust Co. NA grew its position in shares of DICK'S Sporting Goods by 54.1% during the first quarter. Private Trust Co. NA now owns 188 shares of the sporting goods retailer's stock worth $38,000 after purchasing an additional 66 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its position in shares of DICK'S Sporting Goods by 1,435.7% during the first quarter. Golden State Wealth Management LLC now owns 215 shares of the sporting goods retailer's stock worth $43,000 after purchasing an additional 201 shares in the last quarter. 89.83% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Elizabeth H. Baran sold 1,830 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $204.65, for a total transaction of $374,509.50. Following the transaction, the senior vice president directly owned 12,465 shares in the company, valued at $2,550,962.25. The trade was a 12.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert W. Eddy bought 1,357 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were acquired at an average price of $185.31 per share, for a total transaction of $251,465.67. Following the completion of the purchase, the director owned 4,768 shares in the company, valued at $883,558.08. The trade was a 39.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 69,200 shares of company stock worth $14,462,923 over the last quarter. Company insiders own 32.55% of the company's stock.

DICK'S Sporting Goods Trading Up 0.6%

DKS traded up $1.35 during trading on Friday, hitting $224.16. 1,177,868 shares of the stock were exchanged, compared to its average volume of 1,141,207. The firm has a 50 day simple moving average of $202.94 and a 200 day simple moving average of $201.31. The firm has a market cap of $17.94 billion, a price-to-earnings ratio of 16.03, a P/E/G ratio of 3.19 and a beta of 1.07. DICK'S Sporting Goods, Inc. has a 1 year low of $166.37 and a 1 year high of $254.60. 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 (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 analysts' consensus estimates of $3.37. DICK'S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.12 billion. As a group, equities analysts expect that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK'S Sporting Goods Dividend Announcement

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. This represents a $4.85 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, June 13th. DICK'S Sporting Goods's payout ratio is 34.69%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group cut their target price on DICK'S Sporting Goods from $260.00 to $225.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Truist Financial set a $230.00 target price on DICK'S Sporting Goods in a research report on Wednesday, May 28th. DA Davidson reissued a "buy" rating and set a $230.00 price target on shares of DICK'S Sporting Goods in a research note on Friday, June 27th. TD Cowen lowered DICK'S Sporting Goods from a "buy" rating to a "hold" rating and set a $216.00 price target for the company. in a research note on Thursday, May 15th. Finally, Bank of America dropped their price target on DICK'S Sporting Goods from $250.00 to $240.00 and set a "buy" rating for the company in a research note on Tuesday, June 24th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $223.06.

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.