Mutual Advisors LLC Invests $213,000 in DICK’S Sporting Goods, Inc. (NYSE:DKS)

March 28, 2023 Abraham Smith

Mutual Advisors LLC acquired a new position in DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) stock during the fourth quarter, the company said in its recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,769 shares of the sporting goods retailer, valued at approximately $213,000.

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Several other hedge funds and other institutional investors have recently changed their holdings of DKS. Balyasny Asset Management LLC increased its holdings of shares of DICK’S Sporting Goods by 6,908.1% in the third quarter. Balyasny Asset Management LLC now owns 1,244,493 shares of the sporting goods retailer, valued at $130,224,000, after purchasing an additional 1,226,735 shares last quarter. Renaissance Technologies LLC increased its position in DICK’S Sporting Goods by 1,226.2% during the second quarter. Renaissance Technologies LLC now owns 1,209,479 shares of the sporting goods retailer, valued at $91,158,000, after purchasing an additional 1,118,279 shares last quarter. Samlyn Capital LLC increased its position in DICK’S Sporting Goods by 179.0% during the third quarter. Samlyn Capital LLC now owns 1,179,258 shares of the sporting goods retailer worth $123,397,000 after purchasing an additional 756,539 shares last quarter. AQR Capital Management LLC increased its position in DICK’S Sporting Goods by 155.1% during the second quarter. AQR Capital Management LLC now owns 636,689 shares of the sporting goods retailer worth $47,446,000 after purchasing an additional 387,139 shares last quarter. Finally, Wedge Capital Management LLP NC increased its position in DICK’S Sporting Goods by 11,189.7% during the third quarter. Wedge Capital Management LLP NC now owns 348,739 shares of the sporting goods retailer worth $36,492,000 after purchasing an additional 345,650 shares last quarter. Hedge funds and other institutional investors own 75.08% of the company’s shares.

Insider buying and selling

In related news, Chairman Edward W. Stack sold 159,461 shares of the company’s stock in a transaction on Monday, March 13. The stock sold at an average price of $144.38 for a total value of $23,022,979.18. Following the sale, the Chairman now directly owns 10,953,633 shares of the Company, valued at $1,581,485,532.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC’s website. Also on Monday, March 13, Chairman Edward W. Stack sold 159,461 shares of the stock in a transaction. The stock sold at an average price of $144.38 for a total value of $23,022,979.18. Following the sale, the Chairman now directly owns 10,953,633 shares of the Company, valued at $1,581,485,532.54. The transaction was disclosed in a legal filing with the SEC available at this hyperlink. Also on Monday, March 13, CEO Lauren R. Hobart sold 83,392 shares of the stock in a transaction. The stock sold at an average price of $145.21 for a total value of $12,109,352.32. Upon completion of the sale, the Chief Executive Officer now directly owns 233,269 shares of the Company, valued at $33,872,991.49. The disclosure for this sale can be found here. 32.83% of the shares are owned by insiders.

Changes in analyst ratings

DKS has been the subject of a number of recent research reports. Williams Trading downgraded DICK’s Sporting Goods from a “buy” rating to a “hold” rating in a research report on Monday, February 13. JPMorgan Chase & Co. raised its target price on DICK’S Sporting Goods to $148.00 from $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 8. TD Cowen raised its price target on DICK’S Sporting Goods to $175.00 from $166.00 and gave the company a rating of “above average” in a research report on Wednesday, March 8th. Morgan Stanley raised its target price on DICK’S Sporting Goods to $175.00 from $165.00 and ranked the company as “overweight” in a research report on Wednesday, March 8th. Finally, Bank of America raised its target price on DICK’S Sporting Goods to $170.00 from $145.00 and gave the company a buy rating in a research report on Wednesday, March 8th. Ten research analysts have rated the stock with a hold rating and fourteen have rated the company’s stock with a buy. Based on data from MarketBeat, DICK’S Sporting Goods currently has an average rating of Moderate Buy and a consensus price target of $156.61.

DICK’S sporting goods price history

Shares of DKS stock opened at $135.00 on Tuesday. The stock has a market cap of $10.69 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 1.89, and a beta of 1.41. The company’s 50-day moving average is $133.90 and its 200-day moving average is $121.07. DICK’S Sporting Goods, Inc. has a 12-month low of $63.45 and a 12-month high of $152.61. The company has a quick ratio of 0.81, a current ratio of 1.88 and a debt to equity ratio of 0.61.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last announced its quarterly results on Tuesday, March 7th. The sporting goods retailer reported earnings per share of $2.93 for the quarter, beating the consensus estimate of $2.86 by $0.07. The company made $3.60 billion in revenue for the quarter, compared to analysts’ expectations of $3.45 billion. DICK’S Sporting Goods had a return on equity of 45.97% and a net margin of 8.43%. The company’s revenue for the quarter rose 7.3% year over year. In the same period last year, the company generated earnings per share of $3.64. Research analysts expect DICK’s Sporting Goods, Inc. to post 13.48 EPS for the current fiscal year.

DICK’S Sporting Goods increases dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17 will receive a dividend of $1.00. This equates to an annualized dividend of $4.00 and a yield of 2.96%. This is an increase from DICK’S Sporting Goods’ prior quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday March 16th. The payout ratio of DICK’S Sporting Goods is currently 37.14%.

About DICK’S sporting goods

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Dick’s Sporting Goods, Inc retails an extensive line of authentic athletic equipment, apparel, footwear and accessories. It also offers its products online and through mobile applications. The company was founded in 1948 by Richard T. Stack and is headquartered in Coraopolis, PA.

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