The Manufacturers Life Insurance Company Reduces Stock Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

The Manufacturers Life Insurance Company lessened its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 11.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 254,185 shares of the sporting goods retailer’s stock after selling 31,738 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in DICK’S Sporting Goods were worth $53,048,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in DICK’S Sporting Goods by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,788,820 shares of the sporting goods retailer’s stock valued at $373,327,000 after purchasing an additional 57,672 shares during the last quarter. Renaissance Technologies LLC grew its stake in DICK’S Sporting Goods by 51.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,106,341 shares of the sporting goods retailer’s stock valued at $237,697,000 after purchasing an additional 375,600 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in DICK’S Sporting Goods by 15.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 780,346 shares of the sporting goods retailer’s stock valued at $167,683,000 after purchasing an additional 102,609 shares during the last quarter. Bank of New York Mellon Corp grew its stake in DICK’S Sporting Goods by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 764,912 shares of the sporting goods retailer’s stock valued at $164,341,000 after purchasing an additional 11,792 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in DICK’S Sporting Goods by 40.2% during the 2nd quarter. AQR Capital Management LLC now owns 545,045 shares of the sporting goods retailer’s stock valued at $117,103,000 after purchasing an additional 156,227 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Price Performance

NYSE:DKS opened at $213.66 on Friday. DICK’S Sporting Goods, Inc. has a 12 month low of $120.39 and a 12 month high of $239.30. The stock has a 50 day moving average of $205.79 and a two-hundred day moving average of $210.66. The company has a current ratio of 1.77, a quick ratio of 0.69 and a debt-to-equity ratio of 0.51. The firm has a market cap of $17.39 billion, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 2.45 and a beta of 1.64.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings data on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, topping the consensus estimate of $2.68 by $0.07. DICK’S Sporting Goods had a return on equity of 45.14% and a net margin of 8.46%. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same period in the previous year, the business earned $2.85 EPS. DICK’S Sporting Goods’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts expect that DICK’S Sporting Goods, Inc. will post 13.88 earnings per share for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $1.10 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.06%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 32.28%.

Wall Street Analyst Weigh In

DKS has been the topic of several research analyst reports. Bank of America boosted their price target on DICK’S Sporting Goods from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. Barclays boosted their price objective on DICK’S Sporting Goods from $247.00 to $254.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price objective on DICK’S Sporting Goods from $211.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, September 9th. TD Cowen boosted their price objective on DICK’S Sporting Goods from $266.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Robert W. Baird reissued a “neutral” rating and issued a $235.00 price objective on shares of DICK’S Sporting Goods in a report on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating and thirteen 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 $244.95.

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.