DICK’S Sporting Goods, Inc. (NYSE:DKS) Stake Cut by Vinva Investment Management Ltd

Vinva Investment Management Ltd cut its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 47.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,434 shares of the sporting goods retailer’s stock after selling 3,108 shares during the quarter. Vinva Investment Management Ltd’s holdings in DICK’S Sporting Goods were worth $796,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DKS. Wealthfront Advisers LLC bought a new position in DICK’S Sporting Goods during the fourth quarter worth $1,893,210,000. Holocene Advisors LP bought a new position in DICK’S Sporting Goods during the third quarter worth $70,562,000. KBC Group NV lifted its stake in DICK’S Sporting Goods by 86.8% during the fourth quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer’s stock worth $107,043,000 after purchasing an additional 217,390 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in DICK’S Sporting Goods by 1,718.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 200,000 shares of the sporting goods retailer’s stock worth $41,740,000 after purchasing an additional 189,000 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in DICK’S Sporting Goods in the third quarter valued at $32,093,000. 89.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DKS has been the topic of a number of recent research reports. Citigroup reiterated a “neutral” rating and issued a $220.00 target price (down from $230.00) on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. DA Davidson lowered their price target on DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their price target for the company from $225.00 to $260.00 in a report on Wednesday, November 27th. Truist Financial set a $245.00 price target on DICK’S Sporting Goods in a report on Tuesday, March 11th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $250.00 price target on shares of DICK’S Sporting Goods in a report on Friday, March 14th. 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, the stock has an average rating of “Moderate Buy” and an average price target of $245.50.

DICK’S Sporting Goods Trading Down 3.5 %

Shares of DKS opened at $191.25 on Friday. The business’s 50-day moving average price is $225.77 and its 200 day moving average price is $217.13. The stock has a market capitalization of $15.58 billion, a P/E ratio of 13.67, a P/E/G ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods, Inc. has a 1-year low of $182.84 and a 1-year 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.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.15. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the business posted $3.85 EPS. DICK’S Sporting Goods’s revenue was up .5% on a year-over-year basis. Analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods Increases Dividend

The firm also recently disclosed 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 is Friday, March 28th. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 dividend on an annualized basis and a yield of 2.54%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 34.54%.

DICK’S Sporting Goods announced that its Board of Directors has initiated 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 repurchase up to 18.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the sale, the executive vice president now directly owns 16,504 shares in the company, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lawrence J. Schorr sold 7,333 shares of the firm’s 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 owns 50,997 shares of the company’s stock, valued at $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is currently owned by company insiders.

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.