Wedge Capital Management L L P NC Acquires 28,013 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Wedge Capital Management L L P NC grew its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 15.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 212,986 shares of the sporting goods retailer’s stock after buying an additional 28,013 shares during the period. Wedge Capital Management L L P NC owned approximately 0.26% of DICK’S Sporting Goods worth $44,450,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. ICA Group Wealth Management LLC acquired a new stake in DICK’S Sporting Goods in the second quarter worth $28,000. Covestor Ltd boosted its holdings in 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 acquiring an additional 55 shares in the last quarter. ORG Partners LLC acquired a new stake in DICK’S Sporting Goods in the second quarter valued at approximately $30,000. ORG Wealth Partners LLC bought a new stake in shares of DICK’S Sporting Goods during the third quarter valued at approximately $30,000. Finally, Innealta Capital LLC bought a new position in shares of DICK’S Sporting Goods in the 2nd quarter worth $31,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $235.00 price objective on shares of DICK’S Sporting Goods in a research note on Wednesday, August 28th. Loop Capital raised their price target on DICK’S Sporting Goods from $200.00 to $220.00 and gave the stock a “hold” rating in a report on Thursday, September 5th. Evercore ISI reissued an “outperform” rating and issued a $280.00 price target on shares of DICK’S Sporting Goods in a research note on Thursday, September 5th. Telsey Advisory Group raised their price objective on DICK’S Sporting Goods from $255.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $265.00 price objective on shares of DICK’S Sporting Goods in a research note on Thursday, September 5th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $244.62.

DICK’S Sporting Goods Stock Performance

Shares of DKS stock traded down $1.72 during trading hours on Monday, reaching $203.85. The company had a trading volume of 244,850 shares, compared to its average volume of 1,096,675. The firm has a market cap of $16.61 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 2.31 and a beta of 1.62. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.69 and a current ratio of 1.77. DICK’S Sporting Goods, Inc. has a one year low of $100.98 and a one year high of $239.30. The business has a fifty day moving average price of $215.69 and a 200-day moving average price of $210.98.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings data on Wednesday, September 4th. The sporting goods retailer reported $4.37 EPS for the quarter, beating the consensus estimate of $3.77 by $0.60. DICK’S Sporting Goods had a return on equity of 45.14% and a net margin of 8.46%. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the previous year, the business earned $2.82 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. Sell-side analysts predict that DICK’S Sporting Goods, Inc. will post 13.9 earnings per share for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 20th were paid a $1.10 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.16%. DICK’S Sporting Goods’s payout ratio is currently 36.42%.

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.