Spectrum Wealth Counsel LLC Sells 7,476 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Spectrum Wealth Counsel LLC lessened its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 19.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,652 shares of the sporting goods retailer’s stock after selling 7,476 shares during the quarter. Spectrum Wealth Counsel LLC’s holdings in DICK’S Sporting Goods were worth $6,586,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in DKS. V Square Quantitative Management LLC purchased a new stake in DICK’S Sporting Goods in the 1st quarter worth $25,000. Covestor Ltd increased its holdings in shares of DICK’S Sporting Goods by 70.5% in the first quarter. Covestor Ltd now owns 133 shares of the sporting goods retailer’s stock worth $30,000 after purchasing an additional 55 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of DICK’S Sporting Goods in the second quarter worth about $30,000. Innealta Capital LLC bought a new position in DICK’S Sporting Goods during the second quarter valued at approximately $31,000. Finally, Versant Capital Management Inc boosted its stake in DICK’S Sporting Goods by 222.6% during the second quarter. Versant Capital Management Inc now owns 171 shares of the sporting goods retailer’s stock valued at $37,000 after buying an additional 118 shares during the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

DICK’S Sporting Goods Trading Up 3.0 %

NYSE DKS opened at $216.95 on Friday. The stock has a market cap of $17.68 billion, a PE ratio of 17.96, a PEG ratio of 2.39 and a beta of 1.64. DICK’S Sporting Goods, Inc. has a 12 month low of $100.98 and a 12 month high of $239.30. The company’s 50-day moving average price is $215.24 and its 200-day moving average price is $209.32. 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 issued its earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.60. DICK’S Sporting Goods had a net margin of 8.46% and a return on equity of 45.14%. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the prior year, the firm earned $2.82 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, September 19th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 36.42%.

Insiders Place Their Bets

In other news, Director Desiree Ralls-Morrison sold 3,489 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $206.65, for a total transaction of $721,001.85. Following the transaction, the director now owns 5,609 shares in the company, valued at $1,159,099.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 32.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Truist Financial upped their price objective on DICK’S Sporting Goods from $243.00 to $256.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Wells Fargo & Company decreased their price target on shares of DICK’S Sporting Goods from $230.00 to $227.00 and set an “equal weight” rating on the stock in a research note on Monday, August 12th. TD Cowen lifted their price objective on shares of DICK’S Sporting Goods from $266.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Telsey Advisory Group upped their target price on shares of DICK’S Sporting Goods from $255.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $235.00 price target on shares of DICK’S Sporting Goods in a report on Wednesday, August 28th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $244.62.

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.