The Shell Asset Management Co. Reduces stake in Dick’s Sporting Goods Inc. (DKS)

The Shell Asset Management Co. Reduces stake in Dick’s Sporting Goods Inc. (DKS)

Shell Asset Management Co. reduced its position in Dick’s Sporting Goods Inc. (NYSE:DKS) by 35.2% during the second quarter, Holdings Channel reports. The fund owned 2,710 shares of the sporting goods retailer’s stock after selling 1,474 shares during the period. Shell Asset Management Co.’s holdings in Dick’s Sporting Goods were worth $122,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Acrospire Investment Management LLC bought a new position in Dick’s Sporting Goods during the first quarter worth approximately $103,000. Creative Planning raised its position in Dick’s Sporting Goods by 84.3% in the second quarter. Creative Planning now owns 3,072 shares of the sporting goods retailer’s stock worth $138,000 after buying an additional 1,405 shares during the last quarter. Atria Investments LLC bought a new position in Dick’s Sporting Goods during the second quarter worth approximately $358,000. Simmons Bank acquired a new stake in Dick’s Sporting Goods during the first quarter valued at about $355,000. Finally, Commonwealth Equity Services Inc raised its stake in Dick’s Sporting Goods by 12.6% in the first quarter. Commonwealth Equity Services Inc now owns 8,297 shares of the sporting goods retailer’s stock valued at $388,000 after buying an additional 930 shares in the last quarter. 72.16% of the stock is owned by hedge funds and other institutional investors.

Shares of Dick’s Sporting Goods Inc. (NYSE:DKS) traded up 0.97% during midday trading on Friday, reaching $56.46. 1,334,486 shares of the company’s stock were exchanged. Dick’s Sporting Goods Inc. has a one year low of $33.42 and a one year high of $61.94. The stock’s 50-day moving average is $58.69 and its 200 day moving average is $49.79. The firm has a market cap of $6.38 billion, a PE ratio of 19.78 and a beta of 0.85.

Dick’s Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, August 16th. The sporting goods retailer reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.13. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.88 billion. Dick’s Sporting Goods had a net margin of 4.32% and a return on equity of 18.43%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $0.77 earnings per share. Analysts anticipate that Dick’s Sporting Goods Inc. will post $3.06 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were paid a dividend of $0.1513 per share. The ex-dividend date was Wednesday, September 7th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.07%. Dick’s Sporting Goods’s dividend payout ratio is presently 21.33%.

Several equities research analysts recently issued reports on the company. B. Riley reissued a “buy” rating and set a $61.00 price objective on shares of Dick’s Sporting Goods in a research note on Friday, August 12th. MKM Partners reissued a “buy” rating and set a $55.00 price objective on shares of Dick’s Sporting Goods in a research note on Wednesday, June 29th. Vetr raised Dick’s Sporting Goods from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Monday, August 15th. BMO Capital Markets lifted their price objective on Dick’s Sporting Goods from $52.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, August 17th. Finally, Morgan Stanley lifted their price objective on Dick’s Sporting Goods from $44.00 to $54.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $59.40.

In other news, EVP Michele Willoughby sold 36,737 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $58.78, for a total transaction of $2,159,400.86. Following the transaction, the executive vice president now directly owns 98,923 shares in the company, valued at $5,814,693.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 22.96% of the company’s stock.

About Dick’s Sporting Goods

DICK’S Sporting Goods, Inc is an omni-channel sporting goods retailer offering an assortment of sports equipment, apparel, footwear and accessories in its specialty retail stores in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, as well as e-commerce Websites at www.DICKS.com, www.golfgalaxy.com, www.fieldandstreamshop.com and www.caliastudio.com.

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