Envestnet Portfolio Solutions Inc. Grows Stock Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Envestnet Portfolio Solutions Inc. lifted its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,612 shares of the sporting goods retailer’s stock after buying an additional 263 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in DICK’S Sporting Goods were worth $2,428,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of DKS. New Wave Wealth Advisors LLC purchased a new position in DICK’S Sporting Goods during the 4th quarter valued at about $28,000. Brooklyn Investment Group purchased a new position in DICK’S Sporting Goods during the 3rd quarter valued at about $27,000. Rialto Wealth Management LLC purchased a new position in DICK’S Sporting Goods during the 4th quarter valued at about $30,000. Sound Income Strategies LLC increased its holdings in DICK’S Sporting Goods by 590.0% during the 4th 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. Finally, True Wealth Design LLC increased its holdings in DICK’S Sporting Goods by 2,900.0% during the 3rd 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. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DKS. Truist Financial set a $245.00 price target on DICK’S Sporting Goods in a report on Tuesday, March 11th. Morgan Stanley lifted their price objective on DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Wedbush reaffirmed a “neutral” rating and set a $215.00 price objective on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $250.00 price objective on shares of DICK’S Sporting Goods in a research report on Friday, March 14th. Finally, Stifel Nicolaus cut their price objective on DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating on the stock in a research report on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DICK’S Sporting Goods presently has an average rating of “Moderate Buy” and an average target price of $245.50.

DICK’S Sporting Goods Stock Performance

DKS stock opened at $191.25 on Friday. The stock has a market capitalization of $15.58 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods, Inc. has a 12-month low of $182.84 and a 12-month high of $254.60. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The stock’s 50 day simple moving average is $225.77 and its 200 day simple moving average is $217.13.

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 (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.15. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.85 EPS. As a group, research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $1.2125 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a yield of 2.54%. DICK’S Sporting Goods’s dividend payout ratio is 34.54%.

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

Insider Activity at DICK’S Sporting Goods

In other DICK’S Sporting Goods 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 completion of the sale, the director now directly owns 50,997 shares in the company, valued at approximately $11,808,355.35. The trade was a 12.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the business’s stock in a transaction 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 owns 16,504 shares of the company’s stock, valued at approximately $3,762,746.96. This represents a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,933 shares of company stock valued at $39,655,456. 32.03% of the stock is owned by corporate insiders.

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.