Vestcor Inc Has $203,000 Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Vestcor Inc trimmed its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 37.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 885 shares of the sporting goods retailer’s stock after selling 531 shares during the period. Vestcor Inc’s holdings in DICK’S Sporting Goods were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DKS. CIBC Asset Management Inc raised its position in shares of DICK’S Sporting Goods by 1.7% in the third quarter. CIBC Asset Management Inc now owns 3,232 shares of the sporting goods retailer’s stock valued at $675,000 after buying an additional 54 shares in the last quarter. Quest Partners LLC raised its position in shares of DICK’S Sporting Goods by 871.9% in the third quarter. Quest Partners LLC now owns 4,150 shares of the sporting goods retailer’s stock valued at $866,000 after buying an additional 3,723 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of DICK’S Sporting Goods in the third quarter valued at approximately $900,000. Avior Wealth Management LLC raised its position in shares of DICK’S Sporting Goods by 276.8% in the third quarter. Avior Wealth Management LLC now owns 1,172 shares of the sporting goods retailer’s stock valued at $245,000 after buying an additional 861 shares in the last quarter. Finally, Strategy Asset Managers LLC acquired a new stake in shares of DICK’S Sporting Goods in the third quarter valued at approximately $4,325,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

DICK’S Sporting Goods Stock Performance

Shares of DICK’S Sporting Goods stock opened at $193.39 on Wednesday. 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 twelve month low of $182.84 and a twelve month high of $254.60. The stock has a market cap of $15.76 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 2.47 and a beta of 1.53. The company’s fifty day moving average is $227.28 and its 200 day moving average is $217.45.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the previous year, the firm posted $3.85 earnings per share. DICK’S Sporting Goods’s revenue for the quarter was up .5% on a year-over-year basis. Sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $1.2125 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a yield of 2.51%. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio is 34.54%.

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

Analyst Upgrades and Downgrades

DKS has been the subject of several research analyst reports. Truist Financial set a $245.00 price objective on shares of DICK’S Sporting Goods in a research report on Tuesday, March 11th. Wedbush restated 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. UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Robert W. Baird lowered their price objective 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, March 12th. Finally, Stifel Nicolaus lowered their price objective on shares of DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating for the company in a research report on Wednesday, March 12th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $245.50.

Insider Buying and Selling at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of the company’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 sale, the director now owns 50,997 shares of the company’s stock, valued at approximately $11,808,355.35. This represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the company’s stock in a transaction 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 sale, the chairman now directly owns 8,362,128 shares in the company, valued at $1,917,017,844. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,933 shares of company stock valued at $39,655,456. 32.03% of the stock is currently owned by 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.