The Manufacturers Life Insurance Company Sells 31,738 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

The Manufacturers Life Insurance Company trimmed its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 11.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 254,185 shares of the sporting goods retailer’s stock after selling 31,738 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.31% of DICK’S Sporting Goods worth $53,048,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Truvestments Capital LLC lifted its stake in shares of DICK’S Sporting Goods by 8.3% in the 3rd quarter. Truvestments Capital LLC now owns 4,294 shares of the sporting goods retailer’s stock valued at $896,000 after purchasing an additional 328 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of DICK’S Sporting Goods by 9.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,500 shares of the sporting goods retailer’s stock worth $939,000 after acquiring an additional 400 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of DICK’S Sporting Goods during the 3rd quarter worth approximately $5,562,000. Alpha DNA Investment Management LLC lifted its stake in shares of DICK’S Sporting Goods by 3.8% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 3,877 shares of the sporting goods retailer’s stock worth $809,000 after acquiring an additional 142 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of DICK’S Sporting Goods by 108.5% during the 3rd quarter. Cerity Partners LLC now owns 14,647 shares of the sporting goods retailer’s stock worth $3,057,000 after acquiring an additional 7,621 shares during the last quarter. 89.83% of the stock is owned by institutional investors.

DICK’S Sporting Goods Trading Up 0.7 %

Shares of NYSE:DKS opened at $213.66 on Friday. DICK’S Sporting Goods, Inc. has a 12-month low of $120.39 and a 12-month high of $239.30. The business’s fifty day simple moving average is $205.79 and its 200-day simple moving average is $210.66. The company has a market capitalization of $17.39 billion, a PE ratio of 15.68, a P/E/G ratio of 2.45 and a beta of 1.64. The company has a current ratio of 1.77, a quick ratio of 0.69 and a debt-to-equity ratio of 0.51.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.07. DICK’S Sporting Goods had a return on equity of 45.14% and a net margin of 8.46%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same period last year, the business posted $2.85 EPS. The business’s revenue was up .5% compared to the same quarter last year. As a group, equities research analysts predict that DICK’S Sporting Goods, Inc. will post 13.88 earnings per share for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.40 annualized dividend and a yield of 2.06%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 32.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on DKS shares. JPMorgan Chase & Co. raised their price target on DICK’S Sporting Goods from $211.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Truist Financial raised their price target on DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their price target for the stock from $225.00 to $260.00 in a research note on Wednesday. Barclays raised their price target on DICK’S Sporting Goods from $247.00 to $254.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Finally, Citigroup decreased their price target on DICK’S Sporting Goods from $243.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $244.95.

DICK’S Sporting Goods Profile

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.