Logan Capital Management Inc. Trims Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Logan Capital Management Inc. reduced its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 1.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 156,888 shares of the sporting goods retailer’s stock after selling 2,671 shares during the period. DICK’S Sporting Goods accounts for approximately 1.3% of Logan Capital Management Inc.’s investment portfolio, making the stock its 12th biggest holding. Logan Capital Management Inc.’s holdings in DICK’S Sporting Goods were worth $32,743,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Brooklyn Investment Group purchased a new position in DICK’S Sporting Goods during the 3rd quarter worth $27,000. ICA Group Wealth Management LLC purchased a new stake in shares of DICK’S Sporting Goods in the second quarter valued at about $28,000. ORG Partners LLC acquired a new position in shares of DICK’S Sporting Goods during the second quarter worth about $30,000. ORG Wealth Partners LLC purchased a new position in DICK’S Sporting Goods during the third quarter worth about $30,000. Finally, Innealta Capital LLC acquired a new stake in DICK’S Sporting Goods in the second quarter valued at about $31,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

DICK’S Sporting Goods Price Performance

NYSE:DKS traded up $3.07 during trading hours on Friday, reaching $220.83. 27,196 shares of the company traded hands, compared to its average volume of 1,098,206. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The firm’s 50-day moving average is $206.24 and its 200-day moving average is $212.13. The stock has a market cap of $17.99 billion, a P/E ratio of 15.64, a P/E/G ratio of 2.52 and a beta of 1.61. DICK’S Sporting Goods, Inc. has a 1-year low of $137.06 and a 1-year high of $239.30.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings data on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.07. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.03 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business earned $2.85 earnings per share. Equities research analysts expect that DICK’S Sporting Goods, Inc. will post 13.88 earnings per share for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.99%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 31.45%.

Analyst Upgrades and Downgrades

DKS has been the topic of several recent analyst reports. Robert W. Baird reiterated a “neutral” rating and set a $235.00 target price on shares of DICK’S Sporting Goods in a research report on Wednesday, August 28th. UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $225.00 to $260.00 in a report on Wednesday, November 27th. JPMorgan Chase & Co. increased their price objective on DICK’S Sporting Goods from $211.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Evercore ISI restated an “outperform” rating and set a $280.00 target price on shares of DICK’S Sporting Goods in a research report on Thursday, September 5th. Finally, TD Cowen increased their price target on shares of DICK’S Sporting Goods from $266.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, DICK’S Sporting Goods currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.95.

About DICK’S Sporting Goods

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.