ING Groep NV Takes Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

ING Groep NV purchased a new stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 25,300 shares of the sporting goods retailer’s stock, valued at approximately $5,790,000.

Other institutional investors also recently modified their holdings of the company. New Wave Wealth Advisors LLC bought a new position in shares of DICK’S Sporting Goods in the fourth quarter valued at approximately $28,000. Brooklyn Investment Group bought a new position in shares of DICK’S Sporting Goods in the third quarter valued at approximately $27,000. Sound Income Strategies LLC raised its position in shares of DICK’S Sporting Goods by 590.0% in the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock valued at $32,000 after purchasing an additional 118 shares during the period. True Wealth Design LLC raised its position in shares of DICK’S Sporting Goods by 2,900.0% in the third quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock valued at $31,000 after purchasing an additional 145 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in shares of DICK’S Sporting Goods in the third quarter valued at approximately $49,000. Institutional investors own 89.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on DKS. Argus lifted their price target on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Truist Financial boosted their target price on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Morgan Stanley boosted their target price on shares of 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. Loop Capital boosted their target price on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Finally, Wedbush reaffirmed a “neutral” rating and set a $215.00 target price (down previously from $250.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.09.

DICK’S Sporting Goods Stock Down 2.9 %

Shares of NYSE:DKS opened at $224.70 on Friday. DICK’S Sporting Goods, Inc. has a 52 week low of $165.75 and a 52 week high of $254.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The company’s fifty day moving average is $232.99 and its 200-day moving average is $219.00. The company has a market capitalization of $18.31 billion, a PE ratio of 16.06, a P/E/G ratio of 2.47 and a beta of 1.57.

DICK’S Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, beating the consensus estimate of $2.68 by $0.07. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the company earned $2.85 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $1.10 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.40 annualized dividend and a dividend yield of 1.96%. DICK’S Sporting Goods’s dividend payout ratio is presently 31.45%.

Insider Activity

In related news, Chairman Edward W. Stack sold 160,600 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the transaction, the chairman now owns 8,362,128 shares in the company, valued at $1,917,017,844. This represents a 1.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence J. Schorr sold 7,333 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the transaction, the director now owns 50,997 shares in the company, valued at approximately $11,808,355.35. This trade represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 172,933 shares of company stock worth $39,655,456. Corporate insiders own 32.03% of the company’s stock.

About DICK’S Sporting Goods

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.