MTM Investment Management LLC Grows Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

MTM Investment Management LLC raised its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 18.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,265 shares of the sporting goods retailer’s stock after purchasing an additional 348 shares during the period. MTM Investment Management LLC’s holdings in DICK’S Sporting Goods were worth $487,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Quadrature Capital Ltd bought a new position in DICK’S Sporting Goods in the 1st quarter worth approximately $7,690,000. Principal Financial Group Inc. lifted its position in shares of DICK’S Sporting Goods by 5.5% during the second quarter. Principal Financial Group Inc. now owns 239,451 shares of the sporting goods retailer’s stock worth $51,446,000 after acquiring an additional 12,396 shares in the last quarter. Swedbank AB bought a new position in shares of DICK’S Sporting Goods in the first quarter worth $1,670,000. Kerusso Capital Management LLC purchased a new position in shares of DICK’S Sporting Goods in the third quarter valued at $1,554,000. Finally, &PARTNERS purchased a new position in shares of DICK’S Sporting Goods in the second quarter valued at $309,000. Institutional investors own 89.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on DKS shares. Barclays increased their price objective on DICK’S Sporting Goods from $247.00 to $254.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Wells Fargo & Company cut their price objective on shares of DICK’S Sporting Goods from $230.00 to $227.00 and set an “equal weight” rating for the company in a research report on Monday, August 12th. Telsey Advisory Group upped their target price on shares of DICK’S Sporting Goods from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Evercore ISI reissued an “outperform” rating and issued a $280.00 price target on shares of DICK’S Sporting Goods in a report on Thursday, September 5th. Finally, Loop Capital upped their price target on shares of DICK’S Sporting Goods from $200.00 to $220.00 and gave the stock a “hold” rating in a report on Thursday, September 5th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $244.62.

DICK’S Sporting Goods Stock Performance

Shares of NYSE DKS opened at $199.52 on Wednesday. The stock’s 50-day moving average is $206.35 and its 200 day moving average is $210.41. The stock has a market cap of $16.24 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 2.25 and a beta of 1.64. DICK’S Sporting Goods, Inc. has a 1-year low of $117.71 and a 1-year high of $239.30. 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 posted its quarterly earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period last year, the firm posted $2.82 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.91 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, October 4th. Shareholders of record on Friday, September 20th were given a dividend of $1.10 per share. The ex-dividend date was Friday, September 20th. This represents a $4.40 annualized dividend and a yield of 2.21%. DICK’S Sporting Goods’s payout ratio is 32.28%.

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.