Sumitomo Mitsui Trust Group Inc. Grows Stock Position in DICK’S Sporting Goods, Inc. $DKS

Sumitomo Mitsui Trust Group Inc. increased its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 10.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 140,094 shares of the sporting goods retailer’s stock after purchasing an additional 13,230 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.17% of DICK’S Sporting Goods worth $31,132,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in DKS. Atreides Management LP purchased a new position in DICK’S Sporting Goods in the 2nd quarter valued at $172,715,000. Norges Bank purchased a new position in shares of DICK’S Sporting Goods in the second quarter worth about $136,483,000. Browning West LP purchased a new position in shares of DICK’S Sporting Goods in the second quarter worth about $115,719,000. Marshall Wace LLP boosted its position in DICK’S Sporting Goods by 208.3% during the second quarter. Marshall Wace LLP now owns 619,985 shares of the sporting goods retailer’s stock worth $122,639,000 after acquiring an additional 418,872 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new stake in DICK’S Sporting Goods during the 2nd quarter valued at about $64,693,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DKS. Morgan Stanley increased their price objective on shares of DICK’S Sporting Goods from $253.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday. DA Davidson set a $260.00 price target on DICK’S Sporting Goods in a research report on Monday. BNP Paribas Exane began coverage on DICK’S Sporting Goods in a research report on Friday, September 26th. They set an “underperform” rating and a $177.00 price objective on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of DICK’S Sporting Goods in a report on Monday, December 29th. Finally, Wells Fargo & Company raised their target price on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 26th. Eleven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $236.14.

DICK’S Sporting Goods Trading Up 1.2%

Shares of DICK’S Sporting Goods stock opened at $215.47 on Friday. The firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 3.34 and a beta of 1.19. DICK’S Sporting Goods, Inc. has a fifty-two week low of $166.37 and a fifty-two week high of $254.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 1.57. The stock has a 50 day moving average of $211.84 and a 200 day moving average of $217.08.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Tuesday, November 25th. The sporting goods retailer reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.16. DICK’S Sporting Goods had a return on equity of 30.55% and a net margin of 6.86%.The company had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the previous year, the business earned $2.75 earnings per share. The company’s revenue for the quarter was up 36.3% on a year-over-year basis. DICK’S Sporting Goods has set its FY 2025 guidance at 14.250-14.550 EPS. As a group, research analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, December 12th were given a $1.2125 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $4.85 dividend on an annualized basis and a yield of 2.3%. DICK’S Sporting Goods’s dividend payout ratio is presently 39.02%.

DICK’S Sporting Goods Company Profile

DICK’S Sporting Goods is a leading U.S.-based sporting goods retailer that sells a broad range of sports equipment, apparel, footwear and outdoor gear. The company operates an omnichannel business combining physical stores with digital sales, offering products for team sports, fitness, hunting and fishing, golf, and general active lifestyle categories. In addition to its flagship DICK’S stores, the company operates specialty formats such as Golf Galaxy and branded service offerings including team-sports sales and custom equipment solutions.

The company traces its roots to a single sporting goods outlet founded in 1948 and has since grown into a national retail chain serving customers across the United States.