Sowell Financial Services LLC Invests $1.21 Million in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Sowell Financial Services LLC bought a new stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,989 shares of the sporting goods retailer's stock, valued at approximately $1,207,000.

Several other large investors also recently modified their holdings of the stock. Park Square Financial Group LLC purchased a new position in DICK'S Sporting Goods in the fourth quarter valued at approximately $27,000. Ancora Advisors LLC bought a new stake in shares of DICK'S Sporting Goods in the fourth quarter valued at $28,000. Rialto Wealth Management LLC purchased a new position in shares of DICK'S Sporting Goods during the 4th quarter valued at $30,000. Bessemer Group Inc. lifted its position in shares of DICK'S Sporting Goods by 108.6% during the 4th quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock valued at $33,000 after buying an additional 76 shares during the last quarter. Finally, Promus Capital LLC bought a new position in shares of DICK'S Sporting Goods during the 4th quarter worth $48,000. Hedge funds and other institutional investors own 89.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on DKS shares. Loop Capital lowered their price objective on DICK'S Sporting Goods from $195.00 to $180.00 and set a "hold" rating on the stock in a research note on Friday, May 16th. Robert W. Baird lowered their price target on shares of DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating on the stock in a research report on Friday, May 16th. Wedbush reaffirmed a "neutral" rating and issued a $215.00 price objective on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Telsey Advisory Group reissued an "outperform" rating and set a $220.00 target price on shares of DICK'S Sporting Goods in a report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. dropped their target price on DICK'S Sporting Goods from $224.00 to $195.00 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $220.11.

DICK'S Sporting Goods Price Performance

DICK'S Sporting Goods stock traded down $0.71 during midday trading on Wednesday, hitting $174.13. 1,446,746 shares of the company's stock were exchanged, compared to its average volume of 1,258,525. The company has a market cap of $13.94 billion, a P/E ratio of 12.46, a PEG ratio of 2.55 and a beta of 1.07. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.47 and a current ratio of 1.62. The stock has a 50-day moving average price of $184.50 and a two-hundred day moving average price of $207.74. DICK'S Sporting Goods, Inc. has a 52-week low of $166.37 and a 52-week 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 (EPS) for the quarter, meeting analysts' consensus estimates of $3.37. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate 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 forecast that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

DICK'S Sporting Goods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Friday, June 13th. DICK'S Sporting Goods's payout ratio is 34.69%.

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.