Dicks Sporting Goods Inc (DKS) Shares Bought by PNC Financial Services Group Inc.

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PNC Financial Services Group Inc. raised its position in Dicks Sporting Goods Inc (NYSE:DKS) by 13.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,271 shares of the sporting goods retailer’s stock after purchasing an additional 3,299 shares during the period. PNC Financial Services Group Inc.’s holdings in Dicks Sporting Goods were worth $961,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Martingale Asset Management L P lifted its holdings in shares of Dicks Sporting Goods by 16.0% during the 2nd quarter. Martingale Asset Management L P now owns 15,318 shares of the sporting goods retailer’s stock worth $540,000 after acquiring an additional 2,116 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Dicks Sporting Goods by 4.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 51,763 shares of the sporting goods retailer’s stock worth $1,816,000 after acquiring an additional 2,141 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Dicks Sporting Goods by 1.9% during the 1st quarter. Swiss National Bank now owns 147,000 shares of the sporting goods retailer’s stock worth $5,152,000 after acquiring an additional 2,800 shares during the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of Dicks Sporting Goods by 33.3% during the 1st quarter. Xact Kapitalforvaltning AB now owns 12,000 shares of the sporting goods retailer’s stock worth $421,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Dicks Sporting Goods by 8.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,318 shares of the sporting goods retailer’s stock worth $1,343,000 after acquiring an additional 3,023 shares during the last quarter. 73.44% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on DKS shares. Zacks Investment Research raised shares of Dicks Sporting Goods from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Monday, July 16th. Wells Fargo & Co dropped their price objective on shares of Dicks Sporting Goods from $42.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, August 30th. Citigroup dropped their price objective on shares of Dicks Sporting Goods from $41.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, August 30th. Morgan Stanley lifted their price objective on shares of Dicks Sporting Goods from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, ValuEngine raised shares of Dicks Sporting Goods from a “sell” rating to a “hold” rating in a research note on Thursday, August 16th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.42.

Dicks Sporting Goods stock traded up $0.14 during mid-day trading on Friday, hitting $33.45. The company’s stock had a trading volume of 2,126,410 shares, compared to its average volume of 3,111,902. Dicks Sporting Goods Inc has a 12 month low of $23.88 and a 12 month high of $39.74. The company has a market capitalization of $3.59 billion, a PE ratio of 11.11, a P/E/G ratio of 1.61 and a beta of 0.38. The company has a quick ratio of 0.24, a current ratio of 1.53 and a debt-to-equity ratio of 0.09.

Dicks Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Wednesday, August 29th. The sporting goods retailer reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. Dicks Sporting Goods had a net margin of 3.82% and a return on equity of 17.72%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the company earned $0.96 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts expect that Dicks Sporting Goods Inc will post 3.14 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Thursday, September 13th. Dicks Sporting Goods’s payout ratio is 29.90%.

About Dicks Sporting Goods

Dick's Sporting Goods, Inc operates as a sporting goods retailer primarily in the eastern United States. It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories. The company also owns and operates Golf Galaxy, Field & Stream, and other specialty concept stores; and e-commerce Websites, as well as Dick's Team Sports HQ, a youth sports digital platform that offers free league management services, mobile apps for scheduling, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.

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Institutional Ownership by Quarter for Dicks Sporting Goods (NYSE:DKS)

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