State of New Jersey Common Pension Fund D Acquires 130,000 Shares of Dick’s Sporting Goods Inc (DKS)

State of New Jersey Common Pension Fund D boosted its holdings in shares of Dick’s Sporting Goods Inc (NYSE:DKS) by 168.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 207,000 shares of the sporting goods retailer’s stock after purchasing an additional 130,000 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.19% of Dick’s Sporting Goods worth $5,592,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DKS. Vanguard Group Inc. raised its holdings in shares of Dick’s Sporting Goods by 2.0% during the second quarter. Vanguard Group Inc. now owns 6,802,340 shares of the sporting goods retailer’s stock valued at $270,937,000 after acquiring an additional 135,991 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Dick’s Sporting Goods by 6.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 292,898 shares of the sporting goods retailer’s stock valued at $14,253,000 after buying an additional 18,198 shares during the period. Sciencast Management LP acquired a new position in Dick’s Sporting Goods in the 2nd quarter valued at approximately $299,000. Manning & Napier Advisors LLC increased its stake in Dick’s Sporting Goods by 1,173.1% in the 2nd quarter. Manning & Napier Advisors LLC now owns 1,043,955 shares of the sporting goods retailer’s stock valued at $41,580,000 after buying an additional 961,955 shares during the period. Finally, Diversified Investment Strategies LLC increased its stake in Dick’s Sporting Goods by 11.0% in the 2nd quarter. Diversified Investment Strategies LLC now owns 77,275 shares of the sporting goods retailer’s stock valued at $3,078,000 after buying an additional 7,675 shares during the period. 76.66% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently commented on DKS. BMO Capital Markets restated a “buy” rating and set a $37.00 price target on shares of Dick’s Sporting Goods in a research note on Thursday. Goldman Sachs Group, Inc. (The) lowered shares of Dick’s Sporting Goods from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $49.00 to $30.00 in a research note on Wednesday, August 16th. Forward View restated a “sell” rating and set a $25.00 price target on shares of Dick’s Sporting Goods in a research note on Wednesday, August 16th. Wedbush lowered shares of Dick’s Sporting Goods from an “outperform” rating to a “neutral” rating and set a $29.00 price target on the stock. in a research note on Tuesday, August 15th. Finally, Royal Bank Of Canada downgraded shares of Dick’s Sporting Goods from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $46.00 to $29.00 in a report on Wednesday, August 16th. Four investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $36.23.

Dick’s Sporting Goods (NYSE:DKS) last announced its quarterly earnings data on Tuesday, August 15th. The sporting goods retailer reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.04). Dick’s Sporting Goods had a return on equity of 19.09% and a net margin of 3.74%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the business posted $0.82 EPS. The company’s revenue was up 9.6% compared to the same quarter last year.

In related news, Director William J. Colombo bought 20,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was acquired at an average price of $26.25 per share, for a total transaction of $525,000.00. Following the purchase, the director now directly owns 323,224 shares in the company, valued at $8,484,630. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.09% of the stock is owned by company insiders.

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Dick’s Sporting Goods 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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