The Manufacturers Life Insurance Company Reduces Stake in DICK'S Sporting Goods, Inc. (NYSE:DKS)

The Manufacturers Life Insurance Company reduced its holdings in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 11.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,185 shares of the sporting goods retailer's stock after selling 31,738 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.31% of DICK'S Sporting Goods worth $53,048,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. ICA Group Wealth Management LLC bought a new stake in shares of DICK'S Sporting Goods during the second quarter valued at about $28,000. Innealta Capital LLC purchased a new stake in DICK'S Sporting Goods in the 2nd quarter worth approximately $31,000. ORG Partners LLC bought a new position in DICK'S Sporting Goods in the 2nd quarter valued at $30,000. ORG Wealth Partners LLC purchased a new position in shares of DICK'S Sporting Goods during the 3rd quarter valued at $30,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of DICK'S Sporting Goods during the 2nd quarter valued at $34,000. 89.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Evercore ISI reiterated an "outperform" rating and issued a $280.00 price objective on shares of DICK'S Sporting Goods in a research report on Thursday, September 5th. TD Cowen raised their price target 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. Truist Financial boosted their price objective on DICK'S Sporting Goods from $256.00 to $258.00 and gave the stock a "buy" rating in a report on Wednesday. Citigroup decreased their price objective on shares of DICK'S Sporting Goods from $243.00 to $230.00 and set a "neutral" rating on the stock in a research report on Thursday, September 5th. Finally, Loop Capital lifted their target price on shares of DICK'S Sporting Goods from $220.00 to $225.00 and gave the company a "hold" rating in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $244.95.

DICK'S Sporting Goods Trading Down 3.0 %

Shares of NYSE DKS traded down $6.42 during midday trading on Friday, reaching $207.24. The company had a trading volume of 1,205,852 shares, compared to its average volume of 1,092,367. The stock has a market cap of $16.87 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. DICK'S Sporting Goods, Inc. has a one year low of $126.24 and a one year high of $239.30. The firm's fifty day moving average price is $205.75 and its 200-day moving average price is $210.68. The company has a quick ratio of 0.69, a current ratio of 1.72 and a debt-to-equity ratio of 0.48.

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 for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the company posted $2.85 earnings per share. The business's revenue was up .5% on a year-over-year basis. On average, equities research analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.88 earnings per share for the current year.

DICK'S Sporting Goods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Friday, December 13th. DICK'S Sporting Goods's dividend payout ratio (DPR) is presently 31.45%.

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.