Marion Wealth Management Makes New Investment in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Marion Wealth Management purchased a new stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 2,383 shares of the sporting goods retailer’s stock, valued at approximately $545,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brooklyn Investment Group acquired a new position in shares of DICK’S Sporting Goods during the third quarter valued at approximately $27,000. ICA Group Wealth Management LLC acquired a new position in shares of DICK’S Sporting Goods during the 2nd quarter valued at $28,000. ORG Wealth Partners LLC acquired a new stake in shares of DICK’S Sporting Goods in the third quarter valued at $30,000. True Wealth Design LLC boosted its stake in DICK’S Sporting Goods by 2,900.0% during the third quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock valued at $31,000 after buying an additional 145 shares in the last quarter. Finally, Richardson Financial Services Inc. acquired a new position in DICK’S Sporting Goods during the second quarter worth about $34,000. 89.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on DKS. Wedbush reissued a “neutral” rating and set a $215.00 target price (down from $250.00) on shares of DICK’S Sporting Goods in a research note on Wednesday, November 27th. Truist Financial raised their price objective on DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Loop Capital lifted their price target on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $225.00 to $260.00 in a research report on Wednesday, November 27th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $260.00 target price on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, DICK’S Sporting Goods presently has a consensus rating of “Moderate Buy” and an average target price of $246.10.

DICK’S Sporting Goods Stock Performance

DKS stock traded down $5.03 during midday trading on Monday, hitting $224.79. 1,104,603 shares of the company traded hands, compared to its average volume of 1,021,284. DICK’S Sporting Goods, Inc. has a twelve month low of $139.48 and a twelve month high of $239.30. The stock has a market capitalization of $18.31 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 2.54 and a beta of 1.61. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The business has a 50 day simple moving average of $214.97 and a 200-day simple moving average of $213.00.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.07. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.03 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 last year, the business posted $2.85 EPS. As a group, equities research analysts predict that DICK’S Sporting Goods, Inc. will post 13.88 earnings per share for the current year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.40 annualized dividend and a yield of 1.96%. DICK’S Sporting Goods’s payout ratio is 31.45%.

Insider Buying and Selling at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $229.25, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total value of $1,697,956.15. Following the sale, the director now directly owns 50,997 shares in the company, valued at approximately $11,808,355.35. This trade represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Company Profile

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.