Commerce Bank Sells 200 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Commerce Bank trimmed its position in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 6.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,735 shares of the sporting goods retailer’s stock after selling 200 shares during the quarter. Commerce Bank’s holdings in DICK’S Sporting Goods were worth $551,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. US Bancorp DE increased its holdings in shares of DICK’S Sporting Goods by 1.1% in the first quarter. US Bancorp DE now owns 4,740 shares of the sporting goods retailer’s stock worth $955,000 after purchasing an additional 53 shares during the last quarter. Wealthquest Corp bought a new stake in shares of DICK’S Sporting Goods in the first quarter worth about $712,000. XTX Topco Ltd increased its holdings in shares of DICK’S Sporting Goods by 54.8% in the first quarter. XTX Topco Ltd now owns 3,283 shares of the sporting goods retailer’s stock worth $662,000 after purchasing an additional 1,162 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in DICK’S Sporting Goods during the first quarter worth approximately $672,000. Finally, Federated Hermes Inc. increased its stake in DICK’S Sporting Goods by 7.7% during the first quarter. Federated Hermes Inc. now owns 213,021 shares of the sporting goods retailer’s stock worth $42,937,000 after acquiring an additional 15,166 shares during the last quarter. 89.83% of the stock is owned by institutional investors.

DICK’S Sporting Goods Stock Up 2.2%

Shares of NYSE:DKS opened at $216.80 on Thursday. DICK’S Sporting Goods, Inc. has a 1 year low of $166.37 and a 1 year high of $254.60. The business has a 50 day simple moving average of $197.28 and a two-hundred day simple moving average of $203.03. The firm has a market capitalization of $17.35 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 3.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.62 and a quick ratio of 0.47.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.37. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.12 billion. DICK’S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. On average, equities analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $1.2125 dividend. The ex-dividend date was Friday, June 13th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.2%. DICK’S Sporting Goods’s payout ratio is presently 34.69%.

Analyst Ratings Changes

Several brokerages have weighed in on DKS. UBS Group reduced their price objective on DICK’S Sporting Goods from $260.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. JPMorgan Chase & Co. reduced their price objective on DICK’S Sporting Goods from $224.00 to $195.00 and set a “neutral” rating on the stock in a research note on Thursday, May 29th. Robert W. Baird reduced their price objective on DICK’S Sporting Goods from $230.00 to $185.00 and set a “neutral” rating on the stock in a research note on Friday, May 16th. Truist Financial set a $230.00 price objective on DICK’S Sporting Goods in a research note on Wednesday, May 28th. Finally, DA Davidson reissued a “buy” rating and set a $230.00 price objective on shares of DICK’S Sporting Goods in a research note on Friday, June 27th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $221.50.

Insider Transactions at DICK’S Sporting Goods

In related news, EVP Julie Lodge-Jarrett sold 1,026 shares of the business’s stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $203.50, for a total value of $208,791.00. Following the completion of the sale, the executive vice president owned 18,139 shares in the company, valued at approximately $3,691,286.50. The trade was a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Elizabeth H. Baran sold 1,830 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $204.65, for a total value of $374,509.50. Following the completion of the sale, the senior vice president owned 12,465 shares of the company’s stock, valued at $2,550,962.25. The trade was a 12.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,866 shares of company stock valued at $11,462,773 in the last ninety days. Corporate insiders own 32.55% of the company’s stock.

About DICK’S Sporting Goods

Dick’s Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.