TCW Group Inc. Sells 19,705 Shares of DICK'S Sporting Goods, Inc. (NYSE:DKS)

Key Points

• TCW Group Inc. reduced its stake in DICK'S Sporting Goods by 7.3%, selling 19,705 shares, and now holds approximately 0.31% of the company, valued at $50.3 million.
• DICK'S Sporting Goods reported a quarterly EPS of $3.37, meeting analysts' consensus expectations, with revenue of $3.16 billion, exceeding projections of $3.12 billion.
• The company recently announced a quarterly dividend of $1.2125 per share, which translates to an annual yield of 2.23% and a payout ratio of 34.69%.

TCW Group Inc. lessened its stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 7.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,690 shares of the sporting goods retailer's stock after selling 19,705 shares during the quarter. TCW Group Inc. owned approximately 0.31% of DICK'S Sporting Goods worth $50,328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DKS. Park Square Financial Group LLC purchased a new stake in DICK'S Sporting Goods in the 4th quarter valued at about $27,000. Ancora Advisors LLC purchased a new stake in shares of DICK'S Sporting Goods during the 4th quarter worth about $28,000. Bessemer Group Inc. grew its holdings 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 worth $33,000 after purchasing an additional 76 shares during the period. Private Trust Co. NA lifted its position in DICK'S Sporting Goods by 54.1% during the 1st quarter. Private Trust Co. NA now owns 188 shares of the sporting goods retailer's stock worth $38,000 after acquiring an additional 66 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its position in DICK'S Sporting Goods by 1,435.7% during the 1st quarter. Golden State Wealth Management LLC now owns 215 shares of the sporting goods retailer's stock worth $43,000 after acquiring an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company's stock.

DICK'S Sporting Goods Price Performance

Shares of DICK'S Sporting Goods stock traded down $1.75 during midday trading on Thursday, hitting $211.34. 560,600 shares of the company were exchanged, compared to its average volume of 1,495,780. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.62 and a quick ratio of 0.47. The firm has a market cap of $16.92 billion, a P/E ratio of 15.12, a PEG ratio of 3.06 and a beta of 1.07. DICK'S Sporting Goods, Inc. has a 52 week low of $166.37 and a 52 week high of $254.60. The firm has a 50 day simple moving average of $193.33 and a 200-day simple moving average of $203.52.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 EPS for the quarter, hitting the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.12 billion. Research analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $1.2125 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $4.85 annualized dividend and a dividend yield of 2.29%. DICK'S Sporting Goods's dividend payout ratio (DPR) is currently 34.69%.

Analyst Upgrades and Downgrades

DKS has been the topic of several research reports. UBS Group dropped their price target on DICK'S Sporting Goods from $260.00 to $225.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. DA Davidson reissued a "buy" rating and set a $230.00 price target on shares of DICK'S Sporting Goods in a research report on Friday, June 27th. Truist Financial set a $230.00 price target on DICK'S Sporting Goods in a research report on Wednesday, May 28th. Stifel Nicolaus lowered their price objective on DICK'S Sporting Goods from $226.00 to $192.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Finally, Gordon Haskett raised DICK'S Sporting Goods from a "reduce" rating to a "hold" rating in a research note on Friday, July 25th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $221.50.

Insider Buying and Selling

In related news, EVP Julie Lodge-Jarrett sold 1,026 shares of DICK'S Sporting Goods stock in a transaction on Friday, June 27th. The stock was sold at an average price of $203.50, for a total transaction of $208,791.00. Following the completion of the sale, the executive vice president directly owned 18,139 shares of the company's stock, valued at $3,691,286.50. The trade was a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lauren R. Hobart sold 40,166 shares of DICK'S Sporting Goods stock in a transaction on Friday, June 27th. The stock was sold at an average price of $204.58, for a total value of $8,217,160.28. Following the sale, the chief executive officer directly owned 299,990 shares of the company's stock, valued at approximately $61,371,954.20. This trade represents a 11.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 55,866 shares of company stock worth $11,462,773. 32.55% of the stock is currently owned by company insiders.

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.