Fragasso Group Inc. Has $419,000 Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Fragasso Group Inc. trimmed its position in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 19.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,171 shares of the sporting goods retailer’s stock after selling 788 shares during the period. Fragasso Group Inc.’s holdings in DICK’S Sporting Goods were worth $419,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. FMR LLC raised its position in shares of DICK’S Sporting Goods by 1.0% in the 1st quarter. FMR LLC now owns 9,005,968 shares of the sporting goods retailer’s stock valued at $1,277,857,000 after acquiring an additional 87,329 shares during the period. BlackRock Inc. increased its stake in DICK’S Sporting Goods by 12.1% during the 1st quarter. BlackRock Inc. now owns 5,983,808 shares of the sporting goods retailer’s stock worth $849,043,000 after purchasing an additional 644,609 shares in the last quarter. State Street Corp increased its stake in DICK’S Sporting Goods by 5.7% during the 1st quarter. State Street Corp now owns 1,692,324 shares of the sporting goods retailer’s stock worth $240,124,000 after purchasing an additional 91,716 shares in the last quarter. Atreides Management LP increased its stake in DICK’S Sporting Goods by 2.6% during the 1st quarter. Atreides Management LP now owns 1,664,889 shares of the sporting goods retailer’s stock worth $236,231,000 after purchasing an additional 42,367 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in DICK’S Sporting Goods by 116.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,174,456 shares of the sporting goods retailer’s stock worth $141,275,000 after purchasing an additional 632,420 shares in the last quarter. 68.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Sandeep Mathrani bought 1,300 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was acquired at an average cost of $113.54 per share, with a total value of $147,602.00. Following the acquisition, the director now owns 6,647 shares in the company, valued at approximately $754,700.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other DICK’S Sporting Goods news, Director William J. Colombo purchased 2,200 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was purchased at an average cost of $110.00 per share, with a total value of $242,000.00. Following the acquisition, the director now directly owns 170,192 shares of the company’s stock, valued at approximately $18,721,120. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sandeep Mathrani purchased 1,300 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were acquired at an average cost of $113.54 per share, with a total value of $147,602.00. Following the completion of the acquisition, the director now directly owns 6,647 shares in the company, valued at $754,700.38. The disclosure for this purchase can be found here. Corporate insiders own 30.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup lowered their target price on DICK’S Sporting Goods from $153.00 to $118.00 and set a “neutral” rating for the company in a research note on Wednesday, August 23rd. Wedbush cut shares of DICK’S Sporting Goods from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $155.00 to $115.00 in a research note on Wednesday, August 23rd. Barclays decreased their price target on shares of DICK’S Sporting Goods from $174.00 to $139.00 and set an “overweight” rating for the company in a research note on Wednesday, August 23rd. Oppenheimer decreased their price target on shares of DICK’S Sporting Goods from $175.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, August 23rd. Finally, The Goldman Sachs Group decreased their price target on shares of DICK’S Sporting Goods from $164.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, August 23rd. Thirteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $143.17.

DICK’S Sporting Goods Trading Down 1.1 %

Shares of DICK’S Sporting Goods stock opened at $112.92 on Friday. The business has a fifty day simple moving average of $129.48 and a two-hundred day simple moving average of $134.62. DICK’S Sporting Goods, Inc. has a 1 year low of $98.01 and a 1 year high of $152.61. The company has a market capitalization of $9.60 billion, a price-to-earnings ratio of 10.02, a P/E/G ratio of 1.86 and a beta of 1.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.81 and a quick ratio of 0.78.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings data on Tuesday, August 22nd. The sporting goods retailer reported $2.82 EPS for the quarter, missing analysts’ consensus estimates of $3.76 by ($0.94). DICK’S Sporting Goods had a return on equity of 40.52% and a net margin of 8.03%. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the business posted $3.68 EPS. DICK’S Sporting Goods’s revenue was up 3.6% compared to the same quarter last year. Research analysts forecast that DICK’S Sporting Goods, Inc. will post 11.84 EPS for the current year.

DICK’S Sporting Goods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $1.00 dividend. The ex-dividend date is Thursday, September 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.54%. DICK’S Sporting Goods’s dividend payout ratio is currently 35.49%.

About DICK’S Sporting Goods

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as a sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories.