Bank of New York Mellon Corp Trims Stake in Dick’s Sporting Goods Inc (DKS)

Bank of New York Mellon Corp reduced its position in Dick’s Sporting Goods Inc (NYSE:DKS) by 8.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,665,134 shares of the sporting goods retailer’s stock after selling 163,023 shares during the period. Bank of New York Mellon Corp owned 1.52% of Dick’s Sporting Goods worth $44,976,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas purchased a new stake in shares of Dick’s Sporting Goods in the 3rd quarter valued at about $1,645,000. Rhumbline Advisers lifted its holdings in shares of Dick’s Sporting Goods by 11.8% in the 3rd quarter. Rhumbline Advisers now owns 189,589 shares of the sporting goods retailer’s stock valued at $5,121,000 after purchasing an additional 19,977 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Dick’s Sporting Goods by 169.2% in the 3rd quarter. Toronto Dominion Bank now owns 4,657 shares of the sporting goods retailer’s stock valued at $126,000 after purchasing an additional 2,927 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Dick’s Sporting Goods by 5,600.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 57,000 shares of the sporting goods retailer’s stock valued at $1,540,000 after purchasing an additional 56,000 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Dick’s Sporting Goods by 40.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 212,746 shares of the sporting goods retailer’s stock valued at $5,746,000 after purchasing an additional 60,913 shares during the last quarter. 71.65% of the stock is owned by institutional investors and hedge funds.

Several analysts have commented on the company. Goldman Sachs Group downgraded Dick’s Sporting Goods from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $49.00 to $30.00 in a research note on Wednesday, August 16th. Forward View reaffirmed a “sell” rating and set a $25.00 price objective on shares of Dick’s Sporting Goods in a research note on Wednesday, August 16th. Royal Bank Of Canada downgraded Dick’s Sporting Goods from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $46.00 to $29.00 in a research note on Wednesday, August 16th. Wedbush downgraded Dick’s Sporting Goods from an “outperform” rating to a “neutral” rating and set a $29.00 price objective for the company. in a research note on Tuesday, August 15th. Finally, Buckingham Research downgraded Dick’s Sporting Goods from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $31.92.

Dick’s Sporting Goods Inc (NYSE:DKS) opened at $30.05 on Wednesday. The stock has a market capitalization of $3,237.13, a P/E ratio of 9.66, a PEG ratio of 1.65 and a beta of 0.57. Dick’s Sporting Goods Inc has a one year low of $23.88 and a one year high of $62.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.25 and a current ratio of 1.61.

Dick’s Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, November 14th. The sporting goods retailer reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.90 billion. Dick’s Sporting Goods had a return on equity of 17.95% and a net margin of 3.54%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 EPS. research analysts anticipate that Dick’s Sporting Goods Inc will post 2.97 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Thursday, December 7th. Dick’s Sporting Goods’s dividend payout ratio (DPR) is 25.09%.

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About Dick’s Sporting Goods

Dick’s Sporting Goods, Inc is an omni-channel sporting goods retailer offering an assortment of sports equipment, apparel, footwear and accessories in its specialty retail stores primarily in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, and Dick’s Team Sports HQ, an all-in-one youth sports digital platform offering free league management services, mobile applications for scheduling, communications and live scorekeeping, custom uniforms and FanWear and access to donations and sponsorships.

Institutional Ownership by Quarter for Dick`s Sporting Goods (NYSE:DKS)

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