The Moore Capital Management LP Sells 122,000 Shares of Dick’s Sporting Goods Inc. (DKS)

The Moore Capital Management LP Sells 122,000 Shares of Dick’s Sporting Goods Inc. (DKS)

Moore Capital Management LP reduced its stake in Dick’s Sporting Goods Inc. (NYSE:DKS) by 37.5% during the third quarter, Holdings Channel reports. The institutional investor owned 203,000 shares of the sporting goods retailer’s stock after selling 122,000 shares during the period. Moore Capital Management LP owned 0.18% of Dick’s Sporting Goods worth $11,514,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DKS. Utah Retirement Systems raised its position in Dick’s Sporting Goods by 0.6% in the third quarter. Utah Retirement Systems now owns 15,917 shares of the sporting goods retailer’s stock valued at $903,000 after buying an additional 100 shares in the last quarter. Commonwealth Bank of Australia raised its position in Dick’s Sporting Goods by 1.6% in the second quarter. Commonwealth Bank of Australia now owns 13,100 shares of the sporting goods retailer’s stock valued at $589,000 after buying an additional 200 shares in the last quarter. Pictet Asset Management Ltd. raised its position in Dick’s Sporting Goods by 0.6% in the second quarter. Pictet Asset Management Ltd. now owns 35,200 shares of the sporting goods retailer’s stock valued at $1,510,000 after buying an additional 200 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Dick’s Sporting Goods by 10.0% in the third quarter. Daiwa Securities Group Inc. now owns 2,200 shares of the sporting goods retailer’s stock valued at $125,000 after buying an additional 200 shares in the last quarter. Finally, Advisory Services Network LLC raised its position in Dick’s Sporting Goods by 7.0% in the third quarter. Advisory Services Network LLC now owns 3,802 shares of the sporting goods retailer’s stock valued at $216,000 after buying an additional 248 shares in the last quarter. Institutional investors own 70.93% of the company’s stock.

Shares of Dick’s Sporting Goods Inc. (NYSE:DKS) traded down 0.90% during mid-day trading on Thursday, hitting $51.50. 96,206 shares of the stock were exchanged. Dick’s Sporting Goods Inc. has a one year low of $36.00 and a one year high of $62.88. The company has a 50-day moving average of $56.19 and a 200 day moving average of $56.08. The stock has a market cap of $5.80 billion, a PE ratio of 17.83 and a beta of 0.71.

Dick’s Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Tuesday, November 15th. The sporting goods retailer reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. Dick’s Sporting Goods had a net margin of 4.25% and a return on equity of 18.15%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, equities analysts predict that Dick’s Sporting Goods Inc. will post $3.10 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 9th were issued a dividend of $0.1513 per share. This represents a $0.61 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Wednesday, December 7th. Dick’s Sporting Goods’s dividend payout ratio is currently 21.11%.

DKS has been the subject of several recent analyst reports. B. Riley restated a “buy” rating and set a $68.00 target price on shares of Dick’s Sporting Goods in a research report on Friday, November 11th. Zacks Investment Research upgraded Dick’s Sporting Goods from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Wednesday. Wedbush restated an “outperform” rating and set a $65.00 target price on shares of Dick’s Sporting Goods in a research report on Wednesday, December 28th. Canaccord Genuity restated a “buy” rating and set a $70.00 target price on shares of Dick’s Sporting Goods in a research report on Wednesday, December 28th. Finally, Brean Capital restated a “buy” rating on shares of Dick’s Sporting Goods in a research report on Thursday, September 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $61.57.

In related news, EVP Lauren R. Hobart sold 24,015 shares of the business’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $58.45, for a total transaction of $1,403,676.75. Following the sale, the executive vice president now owns 57,930 shares of the company’s stock, valued at $3,386,008.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Lee J. Belitsky sold 15,000 shares of the business’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $58.50, for a total transaction of $877,500.00. Following the sale, the chief financial officer now directly owns 131,623 shares in the company, valued at approximately $7,699,945.50. The disclosure for this sale can be found here. Corporate insiders own 22.96% of the company’s stock.

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 in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, as well as e-commerce Websites at www.DICKS.com, www.golfgalaxy.com, www.fieldandstreamshop.com and www.caliastudio.com.

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