Comerica Bank Sells 10,298 Shares of Dicks Sporting Goods Inc (DKS)

Comerica Bank lessened its holdings in Dicks Sporting Goods Inc (NYSE:DKS) by 17.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,261 shares of the sporting goods retailer’s stock after selling 10,298 shares during the quarter. Comerica Bank’s holdings in Dicks Sporting Goods were worth $1,689,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of DKS. California Public Employees Retirement System boosted its stake in Dicks Sporting Goods by 0.6% during the 2nd quarter. California Public Employees Retirement System now owns 275,068 shares of the sporting goods retailer’s stock worth $9,696,000 after acquiring an additional 1,774 shares during the last quarter. Global X Management Co LLC boosted its stake in Dicks Sporting Goods by 55.1% during the 2nd quarter. Global X Management Co LLC now owns 5,310 shares of the sporting goods retailer’s stock worth $187,000 after acquiring an additional 1,886 shares during the last quarter. Commonwealth Bank of Australia boosted its stake in Dicks Sporting Goods by 2.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 70,745 shares of the sporting goods retailer’s stock worth $2,491,000 after acquiring an additional 1,900 shares during the last quarter. Martingale Asset Management L P boosted its stake in Dicks Sporting Goods by 16.0% during the 2nd quarter. Martingale Asset Management L P now owns 15,318 shares of the sporting goods retailer’s stock worth $540,000 after acquiring an additional 2,116 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its stake in Dicks Sporting Goods by 15.7% during the 3rd quarter. HighPoint Advisor Group LLC now owns 20,986 shares of the sporting goods retailer’s stock worth $704,000 after acquiring an additional 2,841 shares during the last quarter. 81.06% of the stock is currently owned by institutional investors.

Shares of DKS opened at $35.98 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.24 and a current ratio of 1.61. Dicks Sporting Goods Inc has a twelve month low of $28.05 and a twelve month high of $39.75. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.59 and a beta of 0.35.

Dicks Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Wednesday, November 28th. The sporting goods retailer reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.13. Dicks Sporting Goods had a net margin of 3.87% and a return on equity of 18.10%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The business’s revenue was down 4.5% on a year-over-year basis. Analysts anticipate that Dicks Sporting Goods Inc will post 3.23 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be issued a $0.225 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.50%. Dicks Sporting Goods’s dividend payout ratio (DPR) is presently 29.90%.

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Dicks Sporting Goods to $46.00 in a research note on Sunday. TheStreet raised shares of Dicks Sporting Goods from a “c+” rating to a “b-” rating in a research note on Wednesday, November 28th. Royal Bank of Canada lifted their price target on shares of Dicks Sporting Goods to $38.00 and gave the company a “market perform” rating in a research note on Thursday. ValuEngine raised shares of Dicks Sporting Goods from a “sell” rating to a “hold” rating in a research note on Wednesday, November 28th. Finally, Robert W. Baird lifted their price target on shares of Dicks Sporting Goods from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, November 28th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. Dicks Sporting Goods presently has a consensus rating of “Hold” and a consensus price target of $39.50.

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About Dicks Sporting Goods

Dick's Sporting Goods, Inc operates as a sporting goods retailer primarily in the eastern United States. It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories. The company also owns and operates Golf Galaxy, Field & Stream, and other specialty concept stores; and e-commerce Websites, as well as Dick's Team Sports HQ, a youth sports digital platform that offers free league management services, mobile apps for scheduling, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.

Further Reading: Correction

Institutional Ownership by Quarter for Dicks Sporting Goods (NYSE:DKS)

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