Portfolio Design Labs LLC Invests $364,000 in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Portfolio Design Labs LLC bought a new position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,590 shares of the sporting goods retailer’s stock, valued at approximately $364,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in shares of DICK’S Sporting Goods during the 3rd quarter worth approximately $27,000. New Wave Wealth Advisors LLC bought a new position in shares of DICK’S Sporting Goods during the 4th quarter worth approximately $28,000. ORG Wealth Partners LLC bought a new position in shares of DICK’S Sporting Goods during the 3rd quarter worth approximately $30,000. True Wealth Design LLC lifted 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 worth $31,000 after purchasing an additional 145 shares during the last quarter. Finally, Sound Income Strategies LLC lifted 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 worth $32,000 after purchasing an additional 118 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Lawrence J. Schorr sold 7,333 shares of the business’s stock in a transaction on 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 sale, the director now owns 50,997 shares in the company, valued at $11,808,355.35. The trade was a 12.57 % decrease in their position. The sale was disclosed in a legal filing 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 value of $1,139,950.00. Following the sale, the executive vice president now owns 16,504 shares in the company, valued at $3,762,746.96. This represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 172,933 shares of company stock worth $39,655,456 in the last 90 days. Insiders own 32.03% of the company’s stock.

Analyst Upgrades and Downgrades

DKS has been the subject of several research reports. Wedbush reissued a “neutral” rating and set a $215.00 price target (down from $250.00) on shares of DICK’S Sporting Goods in a report on Wednesday, November 27th. UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $225.00 to $260.00 in a report on Wednesday, November 27th. Morgan Stanley lifted their price target on DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Telsey Advisory Group reissued an “outperform” rating and set a $260.00 price target on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. Finally, Truist Financial lifted their price target on DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $248.09.

DICK’S Sporting Goods Price Performance

DICK’S Sporting Goods stock opened at $241.40 on Thursday. 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, Inc. has a 52 week low of $160.31 and a 52 week high of $254.60. The stock has a market capitalization of $19.67 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 2.57 and a beta of 1.57. The stock has a fifty day moving average of $230.53 and a 200-day moving average of $217.71.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.07. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.03 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. DICK’S Sporting Goods’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.85 EPS. On average, sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.40 dividend on an annualized basis and a yield of 1.82%. DICK’S Sporting Goods’s dividend payout ratio is currently 31.45%.

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.