Wed Sep 18 11:51:58 UTC 2024: ## Federated Hermes Increases Stake in DICK’S Sporting Goods

**New York, NY -** Federated Hermes Inc. has significantly increased its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) during the second quarter, according to the company’s recent 13F filing with the SEC. The investment firm purchased an additional 21,048 shares, boosting their total ownership to 33,107 shares, representing a 174.5% increase. Federated Hermes’ stake in DICK’S is now valued at $7,113,000.

This move by Federated Hermes is part of a broader trend of institutional investors showing strong interest in DICK’S Sporting Goods. Several other hedge funds also increased their positions in the company during the second quarter, including DekaBank Deutsche Girozentrale, Oppenheimer & Co. Inc., Vest Financial LLC, and Achmea Investment Management B.V. Additionally, Qsemble Capital Management LP acquired a new stake in the company.

The recent positive sentiment towards DICK’S is further reflected in analysts’ ratings. Morgan Stanley, Loop Capital, Bank of America, DA Davidson, and Truist Financial have all raised their price targets for the company’s stock. Overall, analysts maintain a “Moderate Buy” rating for DICK’S, with an average price target of $244.62.

The company’s strong second-quarter earnings report, which saw them exceed analysts’ expectations, likely contributed to the growing investor enthusiasm. DICK’S reported $4.37 earnings per share for the quarter, beating estimates by $0.60, and revenue of $3.47 billion, slightly surpassing expectations. The company also declared a quarterly dividend of $1.10 per share, payable on October 4th.

DICK’S Sporting Goods continues to be a popular choice for investors, with institutional ownership currently at 89.83%. The company’s strong performance, favorable analyst sentiment, and significant investment from institutional players suggest a positive outlook for the sporting goods retailer in the near future.

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