Redwood Investment Management LLC Cuts Stake in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Redwood Investment Management LLC lowered its stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 16.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 20,755 shares of the sporting goods retailer's stock after selling 4,100 shares during the quarter. Redwood Investment Management LLC's holdings in DICK'S Sporting Goods were worth $4,340,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DKS. Brooklyn Investment Group purchased a new position in shares of DICK'S Sporting Goods during the third quarter valued at approximately $27,000. ICA Group Wealth Management LLC purchased a new position in shares of DICK'S Sporting Goods during the second quarter valued at approximately $28,000. ORG Partners LLC purchased a new position in shares of DICK'S Sporting Goods during the second quarter valued at approximately $30,000. ORG Wealth Partners LLC purchased a new position in shares of DICK'S Sporting Goods during the third quarter valued at approximately $30,000. Finally, Innealta Capital LLC purchased a new position in shares of DICK'S Sporting Goods during the second quarter valued at approximately $31,000. Institutional investors own 89.83% of the company's stock.

DICK'S Sporting Goods Stock Performance

Shares of NYSE DKS traded down $2.93 during trading on Thursday, hitting $208.68. The company had a trading volume of 988,603 shares, compared to its average volume of 1,100,082. The stock has a 50 day simple moving average of $205.43 and a 200 day simple moving average of $211.15. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. DICK'S Sporting Goods, Inc. has a 12 month low of $136.44 and a 12 month high of $239.30. The firm has a market capitalization of $16.99 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 2.38 and a beta of 1.61.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) 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 42.00% and a net margin of 8.65%. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter last year, the company earned $2.85 earnings per share. The business's revenue for the quarter was up .5% compared to the same quarter last year. As a group, analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.88 earnings per share for the current year.

DICK'S Sporting Goods Announces Dividend

The business 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. This represents a $4.40 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, December 13th. DICK'S Sporting Goods's dividend payout ratio (DPR) is currently 31.45%.

Analysts Set New Price Targets

DKS has been the topic of several recent research reports. Wells Fargo & Company reduced their price target on DICK'S Sporting Goods from $230.00 to $227.00 and set an "equal weight" rating on the stock in a research note on Monday, August 12th. Citigroup reduced their price target on DICK'S Sporting Goods from $243.00 to $230.00 and set a "neutral" rating on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. increased their target price on DICK'S Sporting Goods from $211.00 to $215.00 and gave the stock a "neutral" rating in a research note on Monday, September 9th. TD Cowen increased their target price on DICK'S Sporting Goods from $266.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. Finally, Loop Capital upped their price target on DICK'S Sporting Goods from $220.00 to $225.00 and gave the company a "hold" rating in a report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.