DICK’S Sporting Goods, Inc. (NYSE:DKS) Shares Bought by Truvestments Capital LLC

Truvestments Capital LLC raised its position in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 21.8% in the 4th quarter, Holdings Channel reports. The fund owned 5,231 shares of the sporting goods retailer’s stock after acquiring an additional 937 shares during the period. Truvestments Capital LLC’s holdings in DICK’S Sporting Goods were worth $1,197,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of DICK’S Sporting Goods by 88.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,792 shares of the sporting goods retailer’s stock valued at $410,000 after purchasing an additional 842 shares during the period. HighTower Advisors LLC lifted its stake in shares of DICK’S Sporting Goods by 298.8% in the fourth quarter. HighTower Advisors LLC now owns 12,756 shares of the sporting goods retailer’s stock valued at $2,919,000 after purchasing an additional 19,171 shares during the period. Wealthfront Advisers LLC acquired a new stake in shares of DICK’S Sporting Goods in the fourth quarter valued at about $1,893,210,000. Independent Advisor Alliance lifted its stake in shares of DICK’S Sporting Goods by 5.4% in the fourth quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer’s stock valued at $235,000 after purchasing an additional 53 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in shares of DICK’S Sporting Goods by 32.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,950 shares of the sporting goods retailer’s stock valued at $1,362,000 after purchasing an additional 1,450 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their target price for the company from $225.00 to $260.00 in a report on Wednesday, November 27th. Truist Financial raised their target price on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. TD Cowen raised their target price on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Argus raised their target price on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, DICK’S Sporting Goods presently has an average rating of “Moderate Buy” and a consensus price target of $248.09.

DICK’S Sporting Goods Trading Down 5.6 %

Shares of DKS stock opened at $199.20 on Wednesday. The stock has a market cap of $16.23 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth 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. DICK’S Sporting Goods, Inc. has a fifty-two week low of $180.80 and a fifty-two week high of $254.60. The firm’s 50 day moving average price is $230.77 and its two-hundred day moving average price is $218.94.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.15. The firm had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. DICK’S Sporting Goods’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.85 earnings per share. On average, analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $1.2125 per share. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.43%. DICK’S Sporting Goods’s payout ratio is presently 31.45%.

DICK’S Sporting Goods announced that its board has initiated a stock repurchase plan on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the sporting goods retailer to purchase up to 18.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at DICK’S Sporting Goods

In other news, Director Lawrence J. Schorr sold 7,333 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the transaction, the director now directly owns 50,997 shares of the company’s stock, valued at approximately $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the business’s 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 transaction, the executive vice president now directly owns 16,504 shares in the company, valued at approximately $3,762,746.96. The trade was a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,933 shares of company stock valued at $39,655,456. Corporate insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods 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.