Wealth Enhancement Advisory Services LLC Grows Holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 255.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,434 shares of the sporting goods retailer's stock after purchasing an additional 24,746 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in DICK'S Sporting Goods were worth $6,940,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DKS. Park Square Financial Group LLC bought a new position in shares of DICK'S Sporting Goods in the fourth quarter worth $27,000. Ancora Advisors LLC acquired a new stake in DICK'S Sporting Goods during the 4th quarter worth about $28,000. Rialto Wealth Management LLC purchased a new stake in DICK'S Sporting Goods during the fourth quarter valued at about $30,000. Bessemer Group Inc. grew its position in 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 in the last quarter. Finally, Promus Capital LLC purchased a new position in shares of DICK'S Sporting Goods during the fourth quarter valued at $48,000. Institutional investors and hedge funds own 89.83% of the company's stock.

Insider Buying and Selling at DICK'S Sporting Goods

In related news, Director Robert W. Eddy purchased 1,280 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was bought at an average cost of $194.99 per share, for a total transaction of $249,587.20. Following the completion of the transaction, the director now directly owns 6,048 shares in the company, valued at $1,179,299.52. This represents a 26.85% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Julie Lodge-Jarrett sold 1,026 shares of the company's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $203.50, for a total value of $208,791.00. Following the sale, the executive vice president now owns 18,139 shares of the company's stock, valued at approximately $3,691,286.50. This represents a 5.35% decrease in their position. The disclosure for this sale can be found here. Insiders own 32.55% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Citigroup restated a "neutral" rating on shares of DICK'S Sporting Goods in a research note on Thursday, May 29th. Robert W. Baird reduced their target price on DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating for the company in a research report on Friday, May 16th. Bank of America cut their price target on shares of DICK'S Sporting Goods from $250.00 to $240.00 and set a "buy" rating for the company in a research note on Tuesday. Loop Capital lowered their price target on DICK'S Sporting Goods from $195.00 to $180.00 and set a "hold" rating on the stock in a research report on Friday, May 16th. Finally, Stifel Nicolaus cut their price objective on DICK'S Sporting Goods from $226.00 to $192.00 and set a "hold" rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $219.56.

DICK'S Sporting Goods Price Performance

DKS stock traded up $7.10 during midday trading on Friday, reaching $202.98. The company had a trading volume of 3,979,568 shares, compared to its average volume of 1,286,729. The company has a market capitalization of $16.25 billion, a P/E ratio of 14.52, a P/E/G ratio of 2.89 and a beta of 1.07. The firm has a 50-day moving average price of $183.82 and a 200-day moving average price of $206.00. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.62 and a quick ratio of 0.47. DICK'S Sporting Goods, Inc. has a 1 year low of $166.37 and a 1 year high of $254.60.

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 EPS for the quarter, hitting 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 analysts' expectations of $3.12 billion. On average, research analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods announced that its board has approved a share buyback plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

DICK'S Sporting Goods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $1.2125 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.39%. DICK'S Sporting Goods's payout ratio is currently 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.