Chevy Chase Trust Holdings Inc. Invests $2.21 Million in Dick’s Sporting Goods Inc (DKS)

Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Dick’s Sporting Goods Inc (NYSE:DKS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 55,434 shares of the sporting goods retailer’s stock, valued at approximately $2,208,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Somerset Trust Co increased its position in Dick’s Sporting Goods by 0.4% in the second quarter. Somerset Trust Co now owns 7,233 shares of the sporting goods retailer’s stock valued at $288,000 after buying an additional 30 shares during the period. LS Investment Advisors LLC increased its position in Dick’s Sporting Goods by 0.3% in the first quarter. LS Investment Advisors LLC now owns 9,562 shares of the sporting goods retailer’s stock valued at $465,000 after buying an additional 31 shares during the period. Municipal Employees Retirement System of Michigan increased its position in Dick’s Sporting Goods by 0.3% in the first quarter. Municipal Employees Retirement System of Michigan now owns 40,750 shares of the sporting goods retailer’s stock valued at $1,983,000 after buying an additional 130 shares during the period. Gulf International Bank UK Ltd increased its position in Dick’s Sporting Goods by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 31,233 shares of the sporting goods retailer’s stock valued at $1,519,000 after buying an additional 200 shares during the period. Finally, James Investment Research Inc. increased its position in Dick’s Sporting Goods by 7.3% in the first quarter. James Investment Research Inc. now owns 2,933 shares of the sporting goods retailer’s stock valued at $143,000 after buying an additional 200 shares during the period. 76.35% of the stock is owned by institutional investors and hedge funds.

Shares of Dick’s Sporting Goods Inc (NYSE:DKS) traded down 2.70% during trading on Friday, hitting $26.99. 6,850,303 shares of the stock traded hands. The company’s 50 day moving average is $36.05 and its 200 day moving average is $44.26. The firm has a market cap of $2.92 billion, a PE ratio of 9.68 and a beta of 0.47. Dick’s Sporting Goods Inc has a 52-week low of $26.32 and a 52-week high of $62.88.

Dick’s Sporting Goods (NYSE:DKS) last posted its quarterly earnings data on Tuesday, August 15th. The sporting goods retailer reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by $0.04. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Dick’s Sporting Goods had a net margin of 3.74% and a return on equity of 19.09%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 EPS. On average, equities research analysts predict that Dick’s Sporting Goods Inc will post $2.98 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.52%. Dick’s Sporting Goods’s dividend payout ratio is currently 24.29%.

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Several research firms have commented on DKS. B. Riley reissued a “buy” rating and set a $58.00 price objective on shares of Dick’s Sporting Goods in a report on Wednesday, May 17th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Dick’s Sporting Goods in a report on Saturday, May 13th. UBS AG downgraded shares of Dick’s Sporting Goods from a “buy” rating to a “neutral” rating in a report on Tuesday, May 16th. Citigroup Inc. reaffirmed a “buy” rating and issued a $55.00 price target (down previously from $65.00) on shares of Dick’s Sporting Goods in a report on Wednesday, May 17th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $46.00 price objective (down from $50.00) on shares of Dick’s Sporting Goods in a research report on Wednesday, May 17th. Four investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and seven have assigned a buy rating to the stock. Dick’s Sporting Goods has an average rating of “Hold” and a consensus price target of $43.74.

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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