Why Did Castellan Group Sell DICK'S Sporting Goods Stock?

Posted by Colton Michaelsen on

Castellan Group Sells 1,006 Shares Of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Castellan Group reduced its position in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,448 shares of the sporting goods retailer’s stock after selling 1,006 shares during the quarter. DICK’S Sporting Goods comprises about 1.2% of Castellan Group’s portfolio, making the stock its 17th largest position. Castellan Group’s holdings in DICK’S Sporting Goods were worth $2,329,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd increased its holdings in DICK’S Sporting Goods by 13,235.1% in the 3rd quarter. Point72 Hong Kong Ltd now owns 17,869 shares of the sporting goods retailer’s stock valued at $2,140,000 after buying an additional 17,735 shares during the period. Cubist Systematic Strategies LLC grew its holdings in shares of DICK’S Sporting Goods by 31.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 253,059 shares of the sporting goods retailer’s stock valued at $30,309,000 after purchasing an additional 60,810 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of DICK’S Sporting Goods by 0.7% during the 3rd quarter. California State Teachers Retirement System now owns 108,436 shares of the sporting goods retailer’s stock valued at $12,987,000 after purchasing an additional 761 shares during the last quarter. Eaton Vance Management grew its holdings in shares of DICK’S Sporting Goods by 16.5% during the 3rd quarter. Eaton Vance Management now owns 99,462 shares of the sporting goods retailer’s stock valued at $11,774,000 after purchasing an additional 14,091 shares during the last quarter. Finally, Jacobi Capital Management LLC grew its holdings in shares of DICK’S Sporting Goods by 560.0% during the 3rd quarter. Jacobi Capital Management LLC now owns 660 shares of the sporting goods retailer’s stock valued at $79,000 after purchasing an additional 560 shares during the last quarter. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of DICK’S Sporting Goods from $126.00 to $130.00 and gave the company a “hold” rating in a report on Tuesday, November 23rd. Cowen lifted their price target on shares of DICK’S Sporting Goods from $179.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, November 26th. Wedbush decreased their price target on shares of DICK’S Sporting Goods from $155.00 to $140.00 in a report on Wednesday, January 5th. Robert W. Baird lifted their price target on shares of DICK’S Sporting Goods from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, November 23rd. Finally, Gordon Haskett lowered shares of DICK’S Sporting Goods from a “buy” rating to a “hold” rating in a report on Friday, December 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.Com, the company currently has an average rating of “Buy” and a consensus target price of $131.15.

Shares of NYSE DKS opened at $111.81 on Monday. The company has a market capitalization of $9.68 billion, a P/E ratio of 8.65, a price-to-earnings-growth ratio of 0.86 and a beta of 1.66. DICK’S Sporting Goods, Inc. Has a 52-week low of $66.76 and a 52-week high of $147.39. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.58 and a current ratio of 1.52. The company’s 50 day moving average price is $110.80 and its 200-day moving average price is $119.45.

DICK’S Sporting Goods (NYSE:DKS) last released its earnings results on Tuesday, November 23rd. The sporting goods retailer reported $3.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.97 by $1.22. DICK’S Sporting Goods had a net margin of 11.55% and a return on equity of 54.06%. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company earned $2.01 EPS. DICK’S Sporting Goods’s quarterly revenue was up 13.9% compared to the same quarter last year. Analysts forecast that DICK’S Sporting Goods, Inc. Will post 15.6 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 29th. Investors of record on Friday, December 10th were given a dividend of $0.4375 per share. The ex-dividend date was Thursday, December 9th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.57%. DICK’S Sporting Goods’s payout ratio is presently 13.53%.

In other DICK’S Sporting Goods news, SVP John Edward Hayes III sold 800 shares of the business’s stock in a transaction on Wednesday, January 12th. The shares were sold at an average price of $114.28, for a total transaction of $91,424.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Navdeep Gupta sold 4,700 shares of the business’s stock in a transaction on Wednesday, January 12th. The shares were sold at an average price of $114.56, for a total transaction of $538,432.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,447 shares of company stock worth $2,660,027 in the last quarter. 30.09% of the stock is owned by corporate insiders.

About DICK’S Sporting Goods

Dick’s Sporting Goods, Inc engages in the retail of extensive assortment of authentic sports equipment, apparel, footwear, and accessories through a blend of associates, in-store services, and unique specialty shop-in-shops. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.

See Also

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Institutional Ownership by Quarter for DICK'S Sporting Goods (NYSE:DKS)

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