DICK’S Sporting Goods, Inc. (NYSE:DKS) Shares Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 10.3% during the 4th quarter, HoldingsChannel reports. The fund owned 59,053 shares of the sporting goods retailer’s stock after acquiring an additional 5,521 shares during the quarter. Commonwealth Equity Services LLC’s holdings in DICK’S Sporting Goods were worth $13,514,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Avantax Advisory Services Inc. raised its stake in DICK’S Sporting Goods by 13.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,034 shares of the sporting goods retailer’s stock valued at $694,000 after buying an additional 367 shares in the last quarter. Great Lakes Advisors LLC raised its stake in DICK’S Sporting Goods by 37.5% during the fourth quarter. Great Lakes Advisors LLC now owns 28,182 shares of the sporting goods retailer’s stock valued at $6,449,000 after buying an additional 7,692 shares in the last quarter. Truvestments Capital LLC raised its stake in DICK’S Sporting Goods by 21.8% during the fourth quarter. Truvestments Capital LLC now owns 5,231 shares of the sporting goods retailer’s stock valued at $1,197,000 after buying an additional 937 shares in the last quarter. Farther Finance Advisors LLC raised its stake in DICK’S Sporting Goods by 88.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,792 shares of the sporting goods retailer’s stock valued at $410,000 after buying an additional 842 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in DICK’S Sporting Goods by 298.8% during the fourth quarter. HighTower Advisors LLC now owns 12,756 shares of the sporting goods retailer’s stock valued at $2,919,000 after buying an additional 19,171 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

DICK’S Sporting Goods Stock Performance

DKS opened at $193.39 on Wednesday. The firm has a market cap of $15.76 billion, a PE ratio of 13.82, a P/E/G ratio of 2.47 and a beta of 1.53. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $227.28 and a 200-day simple moving average of $217.45. DICK’S Sporting Goods, Inc. has a fifty-two week low of $182.84 and a fifty-two week high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.15. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company’s revenue was up .5% compared to the same quarter last year. During the same period last year, the company posted $3.85 EPS. As a group, equities analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $1.2125 dividend. The ex-dividend date is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.51%. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio is presently 34.54%.

Insider Activity

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the sale, the executive vice president now directly owns 16,504 shares in the company, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence J. Schorr sold 7,333 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total value of $1,697,956.15. Following the sale, the director now owns 50,997 shares of the company’s stock, valued at approximately $11,808,355.35. This represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 172,933 shares of company stock worth $39,655,456 over the last quarter. Corporate insiders own 32.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on DKS. Argus upped their price objective on DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Truist Financial set a $245.00 price target on DICK’S Sporting Goods in a research report on Tuesday, March 11th. Telsey Advisory Group reiterated an “outperform” rating and set a $250.00 price target on shares of DICK’S Sporting Goods in a research report on Friday, March 14th. Citigroup reiterated a “neutral” rating and set a $220.00 price target (down from $230.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Finally, Morgan Stanley increased their price target on DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.50.

DICK’S Sporting Goods Company Profile

Dick’s Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.