Securian Asset Management Inc. Cuts Stock Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Securian Asset Management Inc. trimmed its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,373 shares of the sporting goods retailer’s stock after selling 131 shares during the period. Securian Asset Management Inc.’s holdings in DICK’S Sporting Goods were worth $1,001,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DKS. Assetmark Inc. boosted its position in DICK’S Sporting Goods by 20.7% during the third quarter. Assetmark Inc. now owns 1,831 shares of the sporting goods retailer’s stock valued at $382,000 after buying an additional 314 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in DICK’S Sporting Goods by 12.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 143,056 shares of the sporting goods retailer’s stock valued at $29,856,000 after buying an additional 15,591 shares during the period. Victory Capital Management Inc. boosted its position in DICK’S Sporting Goods by 99.1% during the third quarter. Victory Capital Management Inc. now owns 124,119 shares of the sporting goods retailer’s stock valued at $25,904,000 after buying an additional 61,767 shares during the period. Plato Investment Management Ltd purchased a new stake in DICK’S Sporting Goods during the third quarter valued at about $75,000. Finally, KBC Group NV boosted its position in DICK’S Sporting Goods by 887.3% during the third quarter. KBC Group NV now owns 250,374 shares of the sporting goods retailer’s stock valued at $52,253,000 after buying an additional 225,015 shares during the period. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DKS has been the subject of several analyst reports. Robert W. Baird cut their price target on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday. Truist Financial set a $245.00 target price on shares of DICK’S Sporting Goods in a report on Tuesday. Loop Capital dropped their target price on shares of DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating for the company in a report on Thursday. Citigroup reiterated a “neutral” rating and set a $220.00 target price (down from $230.00) on shares of DICK’S Sporting Goods in a report on Wednesday. Finally, TD Cowen increased their target price on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $245.57.

DICK’S Sporting Goods Price Performance

Shares of NYSE DKS opened at $194.74 on Friday. DICK’S Sporting Goods, Inc. has a fifty-two week low of $182.84 and a fifty-two week high of $254.60. The company has a 50 day simple moving average of $228.59 and a two-hundred day simple moving average of $218.26. The company has a market capitalization of $15.87 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 2.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72.

DICK’S Sporting Goods (NYSE:DKS) last announced its 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. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the firm earned $3.85 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $1.2125 per share. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.49%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is currently 31.45%.

DICK’S Sporting Goods announced that its Board of Directors has authorized a stock buyback plan on Tuesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the sporting goods retailer to reacquire up to 18.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at DICK’S Sporting Goods

In related news, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chairman now owns 8,362,128 shares of the company’s stock, valued at $1,917,017,844. This trade represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the sale, the executive vice president now directly owns 16,504 shares of the company’s stock, valued at $3,762,746.96. This trade represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders 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 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.