Northwestern Mutual Investment Management Company LLC Sells 3,073 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

June 20, 2023 Abraham Smith

Northwestern Mutual Investment Management Company LLC reduced its position in DICK’S Sporting Goods, Inc. (NYSE:DKS – get rating) by 37.4% in the fourth quarter, the company said in its most recent filing with the Securities & Exchange Commission. The fund owned 5,146 shares of the sporting goods retailer after selling 3,073 shares during the period. Northwestern Mutual Investment Management Company LLC’s shares in DICK’S Sporting Goods were worth $619,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DKS. Linden Thomas Advisory Services LLC acquired a new position in DICK’S Sporting Goods valued at approximately $679,000 during the fourth quarter. Point72 Middle East FZE acquired a new position in DICK’S Sporting Goods valued at approximately $1,423,000 during the fourth quarter. The State of Wyoming increased its stake in DICK’S Sporting Goods by 45,750.0% in the fourth quarter. The state of Wyoming now owns 917 shares of the $110,000 sporting goods retailer after buying another 915 shares during the period. Steward Partners Investment Advisory LLC increased its stake in DICK’S Sporting Goods by 10.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,038 shares of the sporting goods retailer, valued at $125,000, after purchasing an additional 100 shares during the period. Finally, Zuckerman Investment Group LLC increased its stake in DICK’S Sporting Goods by 0.8% during the fourth quarter. Zuckerman Investment Group LLC now owns 173,823 shares of the sporting goods retailer, valued at $20,909,000, after purchasing an additional 1,358 shares during the period. Institutional investors own 69.98% of the company’s shares.

Wall Street analysts are weighing

DKS has been the subject of several analyst reports. Stifel Nicolaus increased his price target on DICK’S Sporting Goods to $157.00 from $112.00 and gave the company a hold rating in a research note on Wednesday, March 8th. In a research report on Wednesday, May 24, Citigroup lowered its target price on DICK’S Sporting Goods from $144.00 to $135.00. Barclays raised its target price on DICK’S Sporting Goods to $174.00 from $139.00 and gave the stock an overweight rating in a research report on Wednesday, March 8th. Wells Fargo & Company lowered its target price on DICK’S Sporting Goods from $146.00 to $140.00 in a research report on Wednesday, May 24. Finally, Loop Capital lowered its target price on DICK’S Sporting Goods from $150.00 to $135.00 in a research report on Wednesday, May 24. Nine analysts have rated the stock with a hold rating and fourteen have given it a buy rating. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $156.43.

DICK’S Sporting Goods stock performance

NYSE DKS shares opened at $135.10 on Tuesday. The company has a current ratio of 1.96, a short-term ratio of 0.76 and a leverage ratio of 0.55. DICK’S Sporting Goods, Inc. has a 12-month low of $71.31 and a 12-month high of $152.61. The stock has a 50-day moving average of $136.41 and a 200-day moving average of $131.87. The company has a market cap of $11.65 billion, a P/E of 11.55, a P/E ratio of 1.72, and a beta of 1.44.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last released its earnings results on Tuesday, May 23rd. The sporting goods retailer reported earnings per share of $3.40 for the quarter, beating the consensus estimate of $3.22 by $0.18. DICK’S Sporting Goods achieved a return on equity of 45.52% and a net margin of 8.69%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.80 billion. For the same period last year, the company posted earnings per share of $2.85. The company’s revenue increased 5.3% in the quarter compared to the same quarter last year. As a group, equity analysts expect Dick’s Sporting Goods, Inc. to report year-to-date earnings per share of $13.48.

DICK’S Sporting Goods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16 will be paid a dividend of $1.00 per share. The ex-dividend date is Thursday June 15th. That equates to an annual dividend of $4.00 and a yield of 2.96%. The payout ratio of DICK’S Sporting Goods is currently 34.19%.

Insider buying and selling

In related news, CFO Navdeep Gupta sold 19,203 shares of DICK’S Sporting Goods in a transaction on Friday, March 24. The stock sold at an average price of $138.14 for a total transaction of $2,652,702.42. Following the closing of the sale, the Chief Financial Officer now directly owns 104,884 shares of the Company, valued at approximately $14,488,675.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. In other news from DICK’S Sporting Goods, Director Anne Fink sold 3,174 shares of DICK’S Sporting Goods in a transaction on Thursday, April 6th. The stock sold at an average price of $139.08 for a total value of $441,439.92. Following the closing of the transaction, the Director now directly owns 14,481 shares of the Company, valued at approximately $2,014,017.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission available at this hyperlink. In addition, CFO Navdeep Gupta sold 19,203 shares of DICK’S Sporting Goods in a transaction on Friday, March 24. The shares sold at an average price of $138.14 for a total value of $2,652,702.42. Following the closing of the transaction, the Chief Financial Officer now directly owns 104,884 shares of the Company, valued at $14,488,675.76. The disclosure for this sale can be found here. Over the past ninety days, insiders sold 69,668 shares of the company’s shares, valued at $9,493,157. Insiders own 30.79% of the company’s shares.

About DICK’S Sporting Goods

(get rating)

DICK’S Sporting Goods, Inc., together with its subsidiaries, operates as a sporting goods retailer primarily in the United States. The Company offers hardlines including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; Clothing; as well as shoes and accessories.

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