Lazard Asset Management LLC Acquires 43,972 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Lazard Asset Management LLC boosted its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 177.2% in the first quarter, Holdings Channel reports. The firm owned 68,786 shares of the sporting goods retailer’s stock after purchasing an additional 43,972 shares during the quarter. Lazard Asset Management LLC’s holdings in DICK’S Sporting Goods were worth $15,467,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in DKS. Vanguard Group Inc. raised its holdings in shares of DICK’S Sporting Goods by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 5,380,645 shares of the sporting goods retailer’s stock worth $1,209,892,000 after buying an additional 166,687 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of DICK’S Sporting Goods by 4.2% in the fourth quarter. Victory Capital Management Inc. now owns 2,334,018 shares of the sporting goods retailer’s stock valued at $342,984,000 after acquiring an additional 94,745 shares during the last quarter. Dimensional Fund Advisors LP grew its position in DICK’S Sporting Goods by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 807,203 shares of the sporting goods retailer’s stock worth $118,621,000 after acquiring an additional 10,091 shares during the last quarter. Norges Bank acquired a new position in DICK’S Sporting Goods in the fourth quarter worth $108,908,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of DICK’S Sporting Goods by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 402,025 shares of the sporting goods retailer’s stock valued at $59,078,000 after buying an additional 3,414 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

DICK’S Sporting Goods Stock Down 0.7 %

Shares of DKS stock opened at $207.51 on Monday. The firm’s fifty day moving average price is $211.78 and its two-hundred day moving average price is $194.77. DICK’S Sporting Goods, Inc. has a 1 year low of $100.98 and a 1 year high of $234.47. The company has a current ratio of 1.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $16.91 billion, a P/E ratio of 17.30, a PEG ratio of 2.29 and a beta of 1.65.

DICK’S Sporting Goods (NYSE:DKS) last announced its earnings results on Wednesday, May 29th. The sporting goods retailer reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.36. DICK’S Sporting Goods had a return on equity of 41.80% and a net margin of 7.73%. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the company earned $3.40 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities analysts predict that DICK’S Sporting Goods, Inc. will post 13.76 EPS for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Friday, June 14th. DICK’S Sporting Goods’s dividend payout ratio is 36.42%.

Wall Street Analyst Weigh In

DKS has been the topic of a number of recent research reports. DA Davidson increased their price objective on DICK’S Sporting Goods from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Truist Financial raised their price objective on shares of DICK’S Sporting Goods from $243.00 to $256.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Wedbush reiterated a “neutral” rating and issued a $230.00 price target on shares of DICK’S Sporting Goods in a research report on Wednesday, June 5th. Jefferies Financial Group began coverage on DICK’S Sporting Goods in a research note on Friday, April 12th. They set a “hold” rating and a $211.00 price objective on the stock. Finally, Wells Fargo & Company increased their price target on DICK’S Sporting Goods from $210.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $237.09.

Insiders Place Their Bets

In related news, Director Desiree Ralls-Morrison sold 3,489 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $206.65, for a total value of $721,001.85. Following the completion of the sale, the director now directly owns 5,609 shares in the company, valued at $1,159,099.85. The sale was disclosed in a filing with the SEC, which is available at this link. In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 4,910 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $222.02, for a total transaction of $1,090,118.20. Following the sale, the executive vice president now directly owns 16,504 shares in the company, valued at $3,664,218.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Desiree Ralls-Morrison sold 3,489 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $206.65, for a total transaction of $721,001.85. Following the completion of the transaction, the director now owns 5,609 shares of the company’s stock, valued at $1,159,099.85. The disclosure for this sale can be found here. Insiders have sold a total of 8,400 shares of company stock worth $1,811,336 in the last quarter. Corporate insiders own 32.03% of the company’s stock.

About DICK’S Sporting Goods

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.