Byrne Asset Management LLC Trims Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Byrne Asset Management LLC trimmed its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 8.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 792 shares of the sporting goods retailer’s stock after selling 75 shares during the period. Byrne Asset Management LLC’s holdings in DICK’S Sporting Goods were worth $160,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Stratos Wealth Partners LTD. increased its stake in DICK’S Sporting Goods by 9.0% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,092 shares of the sporting goods retailer’s stock worth $250,000 after buying an additional 90 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in DICK’S Sporting Goods by 41.9% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,589 shares of the sporting goods retailer’s stock worth $364,000 after buying an additional 469 shares in the last quarter. PUREfi Wealth LLC purchased a new stake in DICK’S Sporting Goods in the 4th quarter worth $315,000. Principal Securities Inc. increased its stake in DICK’S Sporting Goods by 11.8% in the 4th quarter. Principal Securities Inc. now owns 3,589 shares of the sporting goods retailer’s stock worth $821,000 after buying an additional 380 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in DICK’S Sporting Goods by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 187,068 shares of the sporting goods retailer’s stock worth $42,809,000 after buying an additional 4,491 shares in the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

DICK’S Sporting Goods Stock Performance

Shares of NYSE:DKS opened at $176.38 on Friday. The company has a market capitalization of $14.09 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 2.47 and a beta of 1.07. DICK’S Sporting Goods, Inc. has a 52 week low of $166.37 and a 52 week high of $254.60. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $184.82 and a 200 day moving average of $208.25.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings data on Wednesday, May 28th. The sporting goods retailer reported $3.37 EPS for the quarter, hitting analysts’ consensus estimates of $3.37. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.12 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. On average, sell-side analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods declared that its board has initiated a stock buyback program on Tuesday, March 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

DICK’S Sporting Goods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Friday, June 13th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 34.69%.

Analyst Ratings Changes

DKS has been the subject of a number of research analyst reports. UBS Group cut their price objective on DICK’S Sporting Goods from $260.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Gordon Haskett lowered DICK’S Sporting Goods from a “buy” rating to a “reduce” rating and set a $170.00 price objective for the company. in a research report on Friday, May 16th. Stifel Nicolaus cut their price objective on DICK’S Sporting Goods from $226.00 to $192.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Wedbush restated a “neutral” rating and set a $215.00 price objective on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Finally, Citigroup restated a “neutral” rating on shares of DICK’S Sporting Goods in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $220.11.

About DICK’S Sporting Goods

Dick’s Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.