Piedmont Investment Advisors LLC acquired a new position in Dick’s Sporting Goods Inc (NYSE:DKS) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 11,357 shares of the sporting goods retailer’s stock, valued at approximately $553,000.

Several other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in shares of Dick’s Sporting Goods during the fourth quarter worth about $5,019,000. Comerica Bank boosted its stake in shares of Dick’s Sporting Goods by 5.8% in the fourth quarter. Comerica Bank now owns 68,952 shares of the sporting goods retailer’s stock worth $3,629,000 after buying an additional 3,803 shares during the period. Federated Investors Inc. PA boosted its stake in shares of Dick’s Sporting Goods by 36.1% in the fourth quarter. Federated Investors Inc. PA now owns 66,627 shares of the sporting goods retailer’s stock worth $3,538,000 after buying an additional 17,679 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of Dick’s Sporting Goods by 1,209.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 153,389 shares of the sporting goods retailer’s stock worth $8,135,000 after buying an additional 141,673 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Dick’s Sporting Goods by 15.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,235 shares of the sporting goods retailer’s stock worth $861,000 after buying an additional 2,134 shares during the period. 78.86% of the stock is owned by hedge funds and other institutional investors.

Dick’s Sporting Goods Inc (DKS) traded up 1.55% on Wednesday, reaching $40.52. 445,291 shares of the company traded hands. The stock has a 50 day moving average of $43.48 and a 200-day moving average of $49.66. Dick’s Sporting Goods Inc has a 1-year low of $38.30 and a 1-year high of $62.88. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 15.69 and a beta of 0.49.

Dick’s Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, May 16th. The sporting goods retailer reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Dick’s Sporting Goods had a net margin of 3.57% and a return on equity of 18.61%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. On average, equities analysts anticipate that Dick’s Sporting Goods Inc will post $3.69 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 9th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, June 7th. This represents a $0.68 annualized dividend and a dividend yield of 1.70%. Dick’s Sporting Goods’s payout ratio is 26.25%.

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A number of analysts have recently issued reports on DKS shares. Canaccord Genuity set a $67.00 price objective on shares of Dick’s Sporting Goods and gave the stock a “buy” rating in a research note on Friday, March 3rd. B. Riley reissued a “buy” rating and issued a $64.00 price objective on shares of Dick’s Sporting Goods in a research note on Monday, March 6th. Robert W. Baird set a $58.00 price objective on shares of Dick’s Sporting Goods and gave the stock a “hold” rating in a research note on Monday, March 6th. MKM Partners reissued a “buy” rating and issued a $67.00 price objective on shares of Dick’s Sporting Goods in a research note on Tuesday, March 7th. Finally, Guggenheim reissued an “in-line” rating on shares of Dick’s Sporting Goods in a research note on Tuesday, March 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $57.91.

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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