FORA Capital LLC Buys 1,680 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

February 20, 2023 Abraham Smith

FORA Capital LLC increased its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) by 33.6% in the third quarter, according to the company in its recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,681 shares of the sporting goods retailer after purchasing an additional 1,680 shares during the period. FORA Capital LLC’s interests in DICK’S Sporting Goods were valued at $699,000 at the time of the most recent filing with the Securities and Exchange Commission.

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Other institutional investors have also recently changed their holdings in the company. Symmetry Partners LLC increased its stake in DICK’S Sporting Goods by 1.1% during the third quarter. Symmetry Partners LLC now owns 8,648 shares of the sporting goods retailer, valued at $905,000, after purchasing an additional 92 shares last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in DICK’S Sporting Goods by 0.5% in the third quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 23,629 shares of the sporting goods retailer, valued at $2,473,000, after purchasing an additional 106 shares last quarter. Cullen Frost Bankers Inc. increased its stake in DICK’S Sporting Goods by 26.0% in the third quarter. Cullen Frost Bankers Inc. now owns 630 shares of the sporting goods retailer, valued at $66,000, after buying another 130 shares last quarter. The National Bank of Canada FI increased its holding in DICK’S Sporting Goods by 4.7% in the second quarter. The National Bank of Canada FI now owns 3,361 shares of the sporting goods retailer, valued at $257,000, after purchasing an additional 150 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holding in DICK’S Sporting Goods by 2.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,463 shares of the sporting goods retailer, valued at $413,000, after purchasing an additional 154 shares during the period. 75.08% of the shares are owned by institutional investors.

Analyst upgrades and downgrades

A number of research analysts have recently issued reports on DKS stocks. Stifel Nicolaus increased his price target on shares of DICK’S Sporting Goods from $100.00 to $112.00 in a report on Wednesday, November 23. Morgan Stanley raised its target price on shares of DICK’S Sporting Goods to $165.00 from $135.00 and gave the company an overweight rating in a report Monday, January 9. Argus increased its target price on shares of DICK’S Sporting Goods from $130.00 to $140.00 in a report on Tuesday, December 6th. DA Davidson raised its target price on shares of DICK’S Sporting Goods from $130.00 to $136.00 in a report on Wednesday, November 23. Finally, Stephens increased his target price on shares of DICK’S Sporting Goods to $121.00 in a report on Friday, November 25. Seven research analysts have rated the stock with a hold rating and fifteen have rated the company’s stock with a buy. According to MarketBeat.com, DICK’S Sporting Goods has a consensus rating of Moderate Buy and a consensus price target of $139.05.

DICK’S Sporting Goods Stock Performance

NYSE DKS opened at $130.15 on Monday. The company has a market cap of $10.31 billion, a P/E of 11.49, a price-to-earnings-to-growth ratio of 2.17 and a beta of 1.40. The company’s 50-day moving average price is $123.97 and its 200-day moving average price is $115.36. DICK’S Sporting Goods, Inc. has a 1 year low of $63.45 and a 1 year high of $138.43. The company has a current ratio of 1.81, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last issued its quarterly earnings data on Tuesday, November 22nd. The sporting goods retailer reported earnings per share of $2.60 for the quarter, beating the consensus estimate of $2.24 by $0.36. The company had revenue of $2.96 billion in the quarter, compared to analyst estimates of $2.70 billion. DICK’S Sporting Goods had a net margin of 9.52% and a return on equity of 52.43%. As a group, research analysts expect DICK’s Sporting Goods, Inc. to post 11.96 EPS for the year to date.

DICK’S Sporting Goods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 9 received a dividend of $0.488. That equates to an annualized dividend of $1.95 and a dividend yield of 1.50%. The ex-dividend date was Thursday 8th December. DICK’S Sporting Goods’ payout rate is currently 17.21%.

Insider Activity

In related news, EVP Vladimir Rak sold 29,144 shares of the company’s shares in a transaction on Wednesday, December 21st. The shares sold at an average price of $112.43 for a total transaction of $3,276,659.92. Following the transaction, the Executive Vice President now directly owns 48,260 shares of the Company, valued at $5,425,871.80. The transaction was disclosed in a legal filing with the SEC available at this hyperlink. In other news from DICK’S Sporting Goods, EVP Vladimir Rak sold 29,144 shares of the stock in a transaction on Wednesday, December 21st. The shares sold at an average price of $112.43 for a total transaction of $3,276,659.92. Following the sale, the Executive Vice President now directly owns 48,260 shares of the Company, valued at $5,425,871.80. The sale was disclosed in a filing with the Securities & Exchange Commission available at this link. In addition, SVP John Edward Hayes III sold 1,000 shares of the stock in a transaction on Friday, December 9th. The stock sold at an average price of $120.57 for a total transaction of $120,570.00. Following the sale, the senior vice president now owns 26,231 shares of the company, valued at $3,162,671.67. The disclosure for this sale can be found here. Insiders have sold 39,283 shares of the company’s stock valued at $4,475,632 over the past ninety days. 32.83% of the shares are currently owned by company insiders.

DICK’S sporting goods profile

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Dick’s Sporting Goods, Inc retails an extensive line of authentic athletic equipment, apparel, footwear and accessories through a blend of associates, in-store services and unique shop-in-shops. The company was founded in 1948 by Richard T. Stack and is headquartered in Coraopolis, PA.

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