Principal Financial Group Inc. Trims Stake in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Principal Financial Group Inc. decreased its holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 23.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 182,577 shares of the sporting goods retailer's stock after selling 56,874 shares during the period. Principal Financial Group Inc. owned about 0.22% of DICK'S Sporting Goods worth $38,104,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James & Associates raised its stake in shares of DICK'S Sporting Goods by 6.1% during the second quarter. Raymond James & Associates now owns 29,467 shares of the sporting goods retailer's stock valued at $6,331,000 after acquiring an additional 1,691 shares in the last quarter. &PARTNERS bought a new stake in DICK'S Sporting Goods during the 2nd quarter valued at $309,000. Bank of New York Mellon Corp lifted its holdings in shares of DICK'S Sporting Goods by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 764,912 shares of the sporting goods retailer's stock worth $164,341,000 after buying an additional 11,792 shares during the period. Atomi Financial Group Inc. bought a new position in shares of DICK'S Sporting Goods during the 2nd quarter worth $241,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of DICK'S Sporting Goods by 9.1% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 16,450 shares of the sporting goods retailer's stock valued at $3,534,000 after buying an additional 1,372 shares during the period. 89.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Telsey Advisory Group reiterated an "outperform" rating and set a $260.00 target price on shares of DICK'S Sporting Goods in a report on Tuesday, November 26th. TD Cowen increased their price objective on shares of DICK'S Sporting Goods from $266.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, September 3rd. UBS Group raised shares of DICK'S Sporting Goods from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $225.00 to $260.00 in a report on Wednesday, November 27th. Truist Financial upped their target price on DICK'S Sporting Goods from $256.00 to $258.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Finally, Wedbush reiterated a "neutral" rating and issued a $215.00 price target (down from $250.00) on shares of DICK'S Sporting Goods in a report on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, DICK'S Sporting Goods currently has an average rating of "Moderate Buy" and a consensus price target of $244.95.

DICK'S Sporting Goods Stock Performance

Shares of NYSE DKS traded down $0.10 during mid-day trading on Tuesday, hitting $225.21. The stock had a trading volume of 523,906 shares, compared to its average volume of 1,105,088. The firm has a market cap of $18.35 billion, a PE ratio of 16.10, a PEG ratio of 2.52 and a beta of 1.61. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The company has a 50 day moving average of $208.75 and a two-hundred day moving average of $212.45. DICK'S Sporting Goods, Inc. has a twelve month low of $137.06 and a twelve month high of $239.30.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.07. The firm had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.03 billion. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company's revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the business posted $2.85 earnings per share. Research analysts predict that DICK'S Sporting Goods, Inc. will post 13.88 EPS for the current fiscal year.

DICK'S Sporting Goods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.95%. DICK'S Sporting Goods's payout ratio is currently 31.45%.

DICK'S Sporting Goods Company 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.