Franklin Resources Inc. Has $19.41 Million Stake in Dick’s Sporting Goods Inc (DKS)

Franklin Resources Inc. reduced its stake in Dick’s Sporting Goods Inc (NYSE:DKS) by 41.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 487,420 shares of the sporting goods retailer’s stock after selling 346,839 shares during the period. Franklin Resources Inc. owned approximately 0.43% of Dick’s Sporting Goods worth $19,414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Engineers Gate Manager LP grew its stake in shares of Dick’s Sporting Goods by 1,040.9% in the 2nd quarter. Engineers Gate Manager LP now owns 107,245 shares of the sporting goods retailer’s stock valued at $4,272,000 after purchasing an additional 97,845 shares during the period. Tredje AP fonden grew its stake in shares of Dick’s Sporting Goods by 8.5% in the 2nd quarter. Tredje AP fonden now owns 17,051 shares of the sporting goods retailer’s stock valued at $680,000 after purchasing an additional 1,331 shares during the period. Schroder Investment Management Group grew its stake in shares of Dick’s Sporting Goods by 71.1% in the 2nd quarter. Schroder Investment Management Group now owns 152,300 shares of the sporting goods retailer’s stock valued at $5,978,000 after purchasing an additional 63,300 shares during the period. Bienville Capital Management LLC bought a new stake in shares of Dick’s Sporting Goods in the 2nd quarter valued at approximately $398,000. Finally, Atlantic Trust Group LLC grew its stake in shares of Dick’s Sporting Goods by 4.4% in the 2nd quarter. Atlantic Trust Group LLC now owns 132,475 shares of the sporting goods retailer’s stock valued at $5,275,000 after purchasing an additional 5,609 shares during the period. Institutional investors own 77.76% of the company’s stock.

Several research firms have recently weighed in on DKS. Canaccord Genuity set a $54.00 price objective on Dick’s Sporting Goods and gave the company a “buy” rating in a research note on Saturday, July 1st. MKM Partners lowered Dick’s Sporting Goods from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $47.00 to $30.00 in a research note on Tuesday, August 15th. Citigroup Inc. lowered Dick’s Sporting Goods from a “buy” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a research note on Wednesday, August 16th. Buckingham Research lowered Dick’s Sporting Goods from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a research note on Wednesday, August 16th. Finally, Guggenheim reiterated a “neutral” rating on shares of Dick’s Sporting Goods in a research note on Wednesday, August 16th. Four analysts have rated the stock with a sell rating, twenty-five have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $39.67.

In other news, Director William J. Colombo acquired 20,000 shares of Dick’s Sporting Goods stock in a transaction on Tuesday, August 22nd. The stock was acquired at an average cost of $26.25 per share, with a total value of $525,000.00. Following the transaction, the director now owns 323,224 shares of the company’s stock, valued at approximately $8,484,630. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 23.09% of the company’s stock.

Dick’s Sporting Goods Inc (NYSE:DKS) opened at 26.54 on Thursday. The company has a market cap of $2.90 billion, a PE ratio of 9.52 and a beta of 0.52. Dick’s Sporting Goods Inc has a 12-month low of $25.94 and a 12-month high of $62.88. The company’s 50-day moving average price is $29.63 and its 200-day moving average price is $40.52.

Dick’s Sporting Goods (NYSE:DKS) last posted its earnings results on Tuesday, August 15th. The sporting goods retailer reported $0.96 earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the company earned $0.82 EPS. The company’s revenue was up 9.6% on a year-over-year basis. Equities analysts anticipate that Dick’s Sporting Goods Inc will post $2.90 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Thursday, September 7th. Dick’s Sporting Goods’s payout ratio is 24.29%.

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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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