M&T Bank Corp Decreases Stake in Dick’s Sporting Goods Inc (DKS)

M&T Bank Corp trimmed its stake in shares of Dick’s Sporting Goods Inc (NYSE:DKS) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,231 shares of the sporting goods retailer’s stock after selling 387 shares during the period. M&T Bank Corp’s holdings in Dick’s Sporting Goods were worth $328,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DKS. Point72 Asia Hong Kong Ltd bought a new stake in Dick’s Sporting Goods during the first quarter valued at approximately $114,000. Creative Planning grew its position in Dick’s Sporting Goods by 72.2% during the second quarter. Creative Planning now owns 2,667 shares of the sporting goods retailer’s stock valued at $106,000 after buying an additional 1,118 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Dick’s Sporting Goods by 30.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,823 shares of the sporting goods retailer’s stock valued at $113,000 after buying an additional 653 shares during the period. HPM Partners LLC bought a new stake in Dick’s Sporting Goods during the second quarter valued at approximately $272,000. Finally, Globeflex Capital L P bought a new stake in Dick’s Sporting Goods during the first quarter valued at approximately $224,000. 77.76% of the stock is owned by hedge funds and other institutional investors.

Dick’s Sporting Goods Inc (NYSE DKS) opened at 25.30 on Thursday. The company has a 50 day moving average of $27.04 and a 200 day moving average of $38.14. Dick’s Sporting Goods Inc has a 12 month low of $25.19 and a 12 month high of $62.88. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 9.08 and a beta of 0.51.

Dick’s Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, August 15th. The sporting goods retailer reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.04). The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Dick’s Sporting Goods had a net margin of 3.74% and a return on equity of 19.09%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $0.82 earnings per share. On average, equities analysts predict that Dick’s Sporting Goods Inc will post $2.90 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Thursday, September 7th. Dick’s Sporting Goods’s dividend payout ratio (DPR) is 24.29%.

In other Dick’s Sporting Goods news, Director William J. Colombo purchased 20,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average cost of $26.25 per share, with a total value of $525,000.00. Following the completion of the acquisition, the director now directly owns 323,224 shares of the company’s stock, valued at approximately $8,484,630. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 23.09% of the company’s stock.

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Several analysts recently issued reports on DKS shares. Stifel Nicolaus set a $54.00 target price on shares of Dick’s Sporting Goods and gave the company a “buy” rating in a research report on Thursday, June 15th. Canaccord Genuity restated a “buy” rating and set a $52.00 target price on shares of Dick’s Sporting Goods in a research report on Friday, July 21st. Buckingham Research began coverage on shares of Dick’s Sporting Goods in a research report on Monday, July 17th. They set a “buy” rating and a $45.00 target price for the company. ValuEngine upgraded shares of Dick’s Sporting Goods from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Finally, BMO Capital Markets set a $62.00 price target on shares of Dick’s Sporting Goods and gave the stock a “buy” rating in a research report on Thursday, July 6th. Three equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Dick’s Sporting Goods presently has an average rating of “Hold” and a consensus target price of $37.73.

Dick’s Sporting Goods Company Profile

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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