Birchcreek Wealth Management LLC Makes New $245,000 Investment in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Birchcreek Wealth Management LLC acquired a new position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,140 shares of the sporting goods retailer’s stock, valued at approximately $245,000.

Several other large investors also recently made changes to their positions in the stock. Covestor Ltd increased its holdings in DICK’S Sporting Goods by 70.5% during the first quarter. Covestor Ltd now owns 133 shares of the sporting goods retailer’s stock worth $30,000 after buying an additional 55 shares during the last quarter. Quent Capital LLC grew its position in shares of DICK’S Sporting Goods by 0.6% in the 2nd quarter. Quent Capital LLC now owns 9,752 shares of the sporting goods retailer’s stock valued at $2,095,000 after acquiring an additional 57 shares during the period. US Bancorp DE grew its position in shares of DICK’S Sporting Goods by 1.5% in the 4th quarter. US Bancorp DE now owns 4,901 shares of the sporting goods retailer’s stock valued at $720,000 after acquiring an additional 71 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of DICK’S Sporting Goods by 0.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 13,370 shares of the sporting goods retailer’s stock worth $1,965,000 after purchasing an additional 87 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its stake in DICK’S Sporting Goods by 0.3% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 28,218 shares of the sporting goods retailer’s stock valued at $4,147,000 after purchasing an additional 94 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DKS shares. Morgan Stanley boosted their target price on DICK’S Sporting Goods from $235.00 to $245.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. TD Cowen upped their price target on shares of DICK’S Sporting Goods from $266.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus raised their price objective on shares of DICK’S Sporting Goods from $215.00 to $232.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Wedbush reaffirmed a “neutral” rating and issued a $250.00 target price on shares of DICK’S Sporting Goods in a research report on Thursday. Finally, Loop Capital dropped their price target on DICK’S Sporting Goods from $230.00 to $200.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $242.67.

Insider Buying and Selling

In other DICK’S Sporting Goods news, Director Desiree Ralls-Morrison sold 3,489 shares of the stock in a transaction dated 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 transaction, the director now directly owns 5,609 shares in the company, valued at $1,159,099.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 32.03% of the stock is currently owned by corporate insiders.

DICK’S Sporting Goods Stock Performance

NYSE:DKS opened at $220.63 on Thursday. The company has a quick ratio of 0.65, a current ratio of 1.71 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $17.98 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 2.59 and a beta of 1.65. DICK’S Sporting Goods, Inc. has a twelve month low of $100.98 and a twelve month high of $239.30. The stock’s 50-day simple moving average is $214.52 and its 200 day simple moving average is $207.38.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.71 by $0.66. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.44 billion. DICK’S Sporting Goods had a net margin of 7.73% and a return on equity of 41.80%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.82 EPS. On average, analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.8 EPS for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, September 20th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 36.42%.

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.