DICK’S Sporting Goods, Inc. (NYSE:DKS) Shares Acquired by Westpac Banking Corp

Posted by Defense World Staff on Aug 3rd, 2023

Westpac Banking Corp increased its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS – Free Report) by 2.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,395 shares of the sporting goods retailer’s stock after acquiring an additional 181 shares during the quarter. Westpac Banking Corp’s holdings in DICK’S Sporting Goods were worth $907,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ridgewood Investments LLC acquired a new position in shares of DICK’S Sporting Goods in the 1st quarter worth $28,000. Heritage Wealth Management LLC grew its holdings in shares of DICK’S Sporting Goods by 100.0% during the fourth quarter. Heritage Wealth Management LLC now owns 216 shares of the sporting goods retailer’s stock valued at $26,000 after buying an additional 108 shares in the last quarter. CoreCap Advisors LLC acquired a new position in DICK’S Sporting Goods during the fourth quarter valued at $39,000. Money Concepts Capital Corp raised its position in DICK’S Sporting Goods by 176.8% during the fourth quarter. Money Concepts Capital Corp now owns 562 shares of the sporting goods retailer’s stock valued at $68,000 after buying an additional 359 shares during the period. Finally, Ronald Blue Trust Inc. raised its position in DICK’S Sporting Goods by 16.6% during the first quarter. Ronald Blue Trust Inc. now owns 633 shares of the sporting goods retailer’s stock valued at $76,000 after buying an additional 90 shares during the period. 69.98% of the stock is currently owned by institutional investors and hedge funds.

DICK’S Sporting Goods Stock Performance

DKS opened at $139.14 on Thursday. The company has a market cap of $12.00 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.80 and a beta of 1.43. The stock has a 50-day moving average of $133.36 and a 200-day moving average of $135.31. DICK’S Sporting Goods, Inc. has a 52-week low of $93.65 and a 52-week high of $152.61. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.76 and a current ratio of 1.96.

DICK’S Sporting Goods (NYSE:DKS – Get Free Report) last announced its earnings results on Tuesday, May 23rd. The sporting goods retailer reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.18. DICK’S Sporting Goods had a return on equity of 45.52% and a net margin of 8.69%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the prior year, the company earned $2.85 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.47 earnings per share for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, June 15th. This represents a $4.00 annualized dividend and a yield of 2.87%. DICK’S Sporting Goods’s payout ratio is 34.19%.

Analyst Upgrades and Downgrades

DKS has been the topic of several recent analyst reports. StockNews.com initiated coverage on DICK’S Sporting Goods in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Citigroup dropped their price target on DICK’S Sporting Goods from $144.00 to $135.00 in a research report on Wednesday, May 24th. Loop Capital dropped their price target on DICK’S Sporting Goods from $150.00 to $135.00 in a research report on Wednesday, May 24th. Finally, Wells Fargo & Company dropped their price target on DICK’S Sporting Goods from $146.00 to $140.00 in a research report on Wednesday, May 24th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.43.

Read Our Latest Analysis on DKS

Insider Activity at DICK’S Sporting Goods

In related news, Director Mark J. Barrenechea sold 9,085 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $123.54, for a total transaction of $1,122,360.90. Following the completion of the sale, the director now owns 2,816 shares in the company, valued at approximately $347,888.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other DICK’S Sporting Goods news, Director Mark J. Barrenechea sold 9,085 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $123.54, for a total value of $1,122,360.90. Following the completion of the transaction, the director now owns 2,816 shares of the company’s stock, valued at approximately $347,888.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Navdeep Gupta sold 16,321 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $136.28, for a total value of $2,224,225.88. Following the completion of the transaction, the chief financial officer now directly owns 97,012 shares of the company’s stock, valued at approximately $13,220,795.36. The disclosure for this sale can be found here. Insiders sold a total of 27,139 shares of company stock worth $3,583,419 in the last 90 days. 30.79% of the stock is owned by company insiders.

About DICK’S Sporting Goods

(Free Report)

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as a sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories.