TD Asset Management Inc Boosts Stock Holdings in DICK'S Sporting Goods, Inc. $DKS

Key Points

• TD Asset Management raised its stake in DICK'S Sporting Goods by 89.6% in Q3 and now owns 11,737 shares valued at about $2.61 million.
• Other institutions also added exposure — notably Vanguard increased to 6,719,011 shares (~$1.49 billion) and new large stakes from Atreides, Norges Bank and Browning West helped push institutional ownership to 89.83%.
• Analysts hold a consensus of "Moderate Buy" with an average target of $238.37, versus the stock's recent open near $200, implying notable upside potential.

TD Asset Management Inc raised its position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 89.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,737 shares of the sporting goods retailer's stock after acquiring an additional 5,548 shares during the quarter. TD Asset Management Inc's holdings in DICK'S Sporting Goods were worth $2,608,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of DICK'S Sporting Goods by 17.8% during the third quarter. Vanguard Group Inc. now owns 6,719,011 shares of the sporting goods retailer's stock worth $1,493,099,000 after purchasing an additional 1,015,599 shares in the last quarter. Atreides Management LP acquired a new stake in DICK'S Sporting Goods during the 2nd quarter worth $172,715,000. Norges Bank purchased a new stake in shares of DICK'S Sporting Goods during the second quarter worth $136,483,000. Browning West LP acquired a new stake in shares of DICK'S Sporting Goods in the second quarter valued at about $115,719,000. Finally, Marshall Wace LLP raised its position in shares of DICK'S Sporting Goods by 208.3% in the second quarter. Marshall Wace LLP now owns 619,985 shares of the sporting goods retailer's stock valued at $122,639,000 after buying an additional 418,872 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DKS. The Goldman Sachs Group restated a "buy" rating on shares of DICK'S Sporting Goods in a research report on Monday, January 5th. Robert W. Baird set a $253.00 target price on DICK'S Sporting Goods in a report on Wednesday, February 11th. TD Cowen restated a "hold" rating on shares of DICK'S Sporting Goods in a research report on Wednesday, November 26th. Weiss Ratings reiterated a "hold (c+)" rating on shares of DICK'S Sporting Goods in a research report on Monday, December 29th. Finally, Wall Street Zen raised DICK'S Sporting Goods from a "sell" rating to a "hold" rating in a research note on Sunday, January 25th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, DICK'S Sporting Goods currently has a consensus rating of "Moderate Buy" and an average target price of $238.37.

DICK'S Sporting Goods Stock Performance

Shares of DICK'S Sporting Goods stock opened at $200.04 on Thursday. DICK'S Sporting Goods, Inc. has a 52 week low of $166.37 and a 52 week high of $237.31. The business's fifty day simple moving average is $206.81 and its 200-day simple moving average is $215.55. The firm has a market cap of $18.00 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 2.61 and a beta of 1.23. The company has a quick ratio of 0.37, a current ratio of 1.57 and a debt-to-equity ratio of 0.35.

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.

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