Westfield Capital Management Co. LP Buys 599,025 Shares of DICK'S Sporting Goods, Inc. (NYSE:DKS)

Key Points

• Westfield Capital Management Co. LP significantly increased its stake in DICK'S Sporting Goods by 1,899.2%, acquiring a total of 630,566 shares, valued at approximately $127 million.
• In the most recent earnings report, DICK'S Sporting Goods reported $3.37 earnings per share and revenue of $3.16 billion, outperforming analyst expectations.
• The company announced a quarterly dividend of $1.2125 per share, which represents an annualized yield of 2.3%, with a dividend payout ratio of 34.69%.

Westfield Capital Management Co. LP increased its holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 1,899.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 630,566 shares of the sporting goods retailer's stock after purchasing an additional 599,025 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.79% of DICK'S Sporting Goods worth $127,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of DKS. Junto Capital Management LP purchased a new stake in DICK'S Sporting Goods in the fourth quarter worth about $89,351,000. GAMMA Investing LLC lifted its holdings in DICK'S Sporting Goods by 24,140.8% in the first quarter. GAMMA Investing LLC now owns 291,859 shares of the sporting goods retailer's stock worth $58,827,000 after buying an additional 290,655 shares during the period. Candlestick Capital Management LP purchased a new position in shares of DICK'S Sporting Goods during the fourth quarter valued at approximately $41,354,000. Interval Partners LP lifted its holdings in shares of DICK'S Sporting Goods by 273.6% during the fourth quarter. Interval Partners LP now owns 219,591 shares of the sporting goods retailer's stock valued at $50,251,000 after purchasing an additional 160,817 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of DICK'S Sporting Goods by 27.9% during the fourth quarter. Northern Trust Corp now owns 594,995 shares of the sporting goods retailer's stock valued at $136,159,000 after purchasing an additional 129,783 shares during the last quarter. 89.83% of the stock is owned by institutional investors.

DICK'S Sporting Goods Price Performance

DICK'S Sporting Goods stock traded up $2.80 during mid-day trading on Tuesday, hitting $212.30. The stock had a trading volume of 807,024 shares, compared to its average volume of 1,201,327. The firm has a market capitalization of $16.99 billion, a P/E ratio of 15.19, a P/E/G ratio of 2.99 and a beta of 1.07. The company has a current ratio of 1.62, a quick ratio of 0.47 and a debt-to-equity ratio of 0.49. The firm's 50 day moving average is $196.49 and its 200 day moving average is $202.93. DICK'S Sporting Goods, Inc. has a one year low of $166.37 and a one 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 the consensus estimate of $3.37. The business had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.12 billion. DICK'S Sporting Goods had a net margin of 8.49% and a return on equity of 38.06%. On average, sell-side analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, June 13th. DICK'S Sporting Goods's dividend payout ratio is presently 34.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Loop Capital set a $215.00 price objective on shares of DICK'S Sporting Goods and gave the stock a "hold" rating in a report on Wednesday, July 30th. Robert W. Baird decreased their price objective on shares of DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating for the company in a report on Friday, May 16th. Truist Financial set a $230.00 price objective on shares of DICK'S Sporting Goods in a report on Wednesday, May 28th. Wall Street Zen upgraded shares of DICK'S Sporting Goods from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Finally, Stifel Nicolaus decreased their price objective on shares of 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. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, DICK'S Sporting Goods presently has an average rating of "Hold" and a consensus price target of $221.50.

Insider Activity at DICK'S Sporting Goods

In other news, Director Robert W. Eddy purchased 1,357 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The shares were bought at an average cost of $185.31 per share, for a total transaction of $251,465.67. Following the acquisition, the director owned 4,768 shares of the company's stock, valued at approximately $883,558.08. This trade represents a 39.78% increase in their position. The purchase 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 the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $204.58, for a total transaction of $8,217,160.28. Following the transaction, the chief executive officer owned 299,990 shares in the company, valued at $61,371,954.20. The trade was a 11.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,866 shares of company stock worth $11,462,773 in the last three months. 32.55% of the stock is owned by insiders.

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.