Westpac Banking Corp Purchases New Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Westpac Banking Corp purchased a new stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 976 shares of the sporting goods retailer’s stock, valued at approximately $197,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its position in DICK’S Sporting Goods by 108.6% during the fourth quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer’s stock worth $33,000 after purchasing an additional 76 shares during the period. Townsquare Capital LLC boosted its position in DICK’S Sporting Goods by 529.8% during the fourth quarter. Townsquare Capital LLC now owns 8,175 shares of the sporting goods retailer’s stock worth $1,871,000 after purchasing an additional 6,877 shares during the period. CreativeOne Wealth LLC boosted its position in DICK’S Sporting Goods by 48.4% during the fourth quarter. CreativeOne Wealth LLC now owns 3,737 shares of the sporting goods retailer’s stock worth $855,000 after purchasing an additional 1,218 shares during the period. XTX Topco Ltd bought a new position in DICK’S Sporting Goods during the fourth quarter worth about $485,000. Finally, Bridgewater Associates LP boosted its position in DICK’S Sporting Goods by 4.1% during the fourth quarter. Bridgewater Associates LP now owns 6,251 shares of the sporting goods retailer’s stock worth $1,430,000 after purchasing an additional 249 shares during the period. Institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Stock Up 1.8%

Shares of NYSE DKS opened at $226.27 on Thursday. DICK’S Sporting Goods, Inc. has a one year low of $166.37 and a one year high of $254.60. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.62 and a quick ratio of 0.47. The firm’s 50 day simple moving average is $201.19 and its two-hundred day simple moving average is $202.28. The stock has a market capitalization of $18.11 billion, a P/E ratio of 16.19, a PEG ratio of 3.17 and a beta of 1.07.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 EPS for the quarter, meeting analysts’ consensus estimates of $3.37. DICK’S Sporting Goods had a net margin of 8.49% and a return on equity of 38.06%. The business had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.12 billion. As a group, analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, June 13th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 34.69%.

Insider Buying and Selling at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, CEO Lauren R. Hobart sold 40,166 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $204.58, for a total transaction of $8,217,160.28. Following the transaction, the chief executive officer directly owned 299,990 shares in the company, valued at $61,371,954.20. This trade represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Navdeep Gupta sold 9,303 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $215.00, for a total transaction of $2,000,145.00. Following the completion of the transaction, the executive vice president owned 87,778 shares in the company, valued at $18,872,270. This represents a 9.58% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,866 shares of company stock valued at $11,462,773. 32.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of DICK’S Sporting Goods from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. UBS Group cut their target price on shares of DICK’S Sporting Goods from $260.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Telsey Advisory Group reissued an “outperform” rating and issued a $220.00 price target on shares of DICK’S Sporting Goods in a report on Wednesday, May 28th. Loop Capital set a $215.00 price target on shares of DICK’S Sporting Goods and gave the stock a “hold” rating in a report on Wednesday, July 30th. Finally, TD Cowen downgraded shares of DICK’S Sporting Goods from a “buy” rating to a “hold” rating and set a $216.00 price target on the stock. in a report on Thursday, May 15th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $221.50.

DICK’S Sporting Goods Company Profile

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.