Wealthquest Corp Buys New Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Key Points

• Wealthquest Corp made a notable investment of $712,000 in DICK'S Sporting Goods, Inc., acquiring 3,530 shares as part of its first-quarter activities.
• Several institutional investors have increased their stakes in DICK'S, including Geode Capital Management and Dimensional Fund Advisors, reflecting a strong interest in the retailer amidst rising back-to-school spending.
• Analysts have mixed opinions on DICK'S stock, with an average target price of $221.50 and a majority recommending a "Hold" rating.

Wealthquest Corp bought a new position 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 3,530 shares of the sporting goods retailer's stock, valued at approximately $712,000.

Other hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in DICK'S Sporting Goods in the fourth quarter valued at approximately $27,000. Ancora Advisors LLC acquired a new position in shares of DICK'S Sporting Goods during the 4th quarter worth about $28,000. Bessemer Group Inc. raised its holdings in shares of DICK'S Sporting Goods by 108.6% in the 4th quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock valued at $33,000 after purchasing an additional 76 shares during the period. Private Trust Co. NA increased its position in 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 buying an additional 66 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its position in 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 buying an additional 201 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DICK'S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 1,026 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were 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 owned 18,139 shares of the company's stock, valued at $3,691,286.50. This trade represents a 5.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Navdeep Gupta sold 9,303 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $215.00, for a total transaction of $2,000,145.00. Following the transaction, the executive vice president owned 87,778 shares in the company, valued at $18,872,270. The trade was a 9.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,866 shares of company stock worth $11,462,773 over the last quarter. 32.55% of the stock is owned by company insiders.

DICK'S Sporting Goods Trading Down 2.4%

NYSE DKS traded down $5.05 on Friday, reaching $206.46. The company had a trading volume of 1,319,897 shares, compared to its average volume of 1,166,044. The firm has a market cap of $16.53 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 2.95 and a beta of 1.07. 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 fifty-two week low of $166.37 and a fifty-two week high of $254.60. The business has a 50 day moving average of $194.89 and a two-hundred day moving average of $203.17.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share for the quarter, meeting analysts' consensus estimates of $3.37. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.12 billion. DICK'S Sporting Goods had a net margin of 8.49% and a return on equity of 38.06%. Analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, June 13th. DICK'S Sporting Goods's payout ratio is currently 34.69%.

Wall Street Analysts Forecast Growth

DKS has been the subject of several research reports. Telsey Advisory Group reaffirmed an "outperform" rating and set a $220.00 price target on shares of DICK'S Sporting Goods in a report on Wednesday, May 28th. Barclays increased their price target on shares of DICK'S Sporting Goods from $217.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. Wells Fargo & Company increased their target price on DICK'S Sporting Goods from $171.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Truist Financial set a $230.00 price objective on DICK'S Sporting Goods in a report on Wednesday, May 28th. Finally, Loop Capital lifted their target price on DICK'S Sporting Goods from $180.00 to $215.00 and gave the stock a "hold" rating in a report on Wednesday. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, DICK'S Sporting Goods has an average rating of "Hold" and an average target price of $221.50.

About DICK'S Sporting Goods

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.