Legacy Capital Group California Inc. Trims Stock Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Legacy Capital Group California Inc. lowered its position in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 38.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,364 shares of the sporting goods retailer’s stock after selling 869 shares during the quarter. Legacy Capital Group California Inc.’s holdings in DICK’S Sporting Goods were worth $307,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in shares of DICK’S Sporting Goods in the first quarter valued at approximately $25,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of DICK’S Sporting Goods by 280.0% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 190 shares of the sporting goods retailer’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Rise Advisors LLC increased its holdings in shares of DICK’S Sporting Goods by 163.9% in the first quarter. Rise Advisors LLC now owns 256 shares of the sporting goods retailer’s stock valued at $57,000 after purchasing an additional 159 shares during the period. Blue Trust Inc. increased its holdings in shares of DICK’S Sporting Goods by 236.8% in the fourth quarter. Blue Trust Inc. now owns 293 shares of the sporting goods retailer’s stock valued at $43,000 after purchasing an additional 206 shares during the period. Finally, Capital Analysts LLC grew its holdings in DICK’S Sporting Goods by 132.5% during the fourth quarter. Capital Analysts LLC now owns 451 shares of the sporting goods retailer’s stock worth $66,000 after acquiring an additional 257 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

DICK’S Sporting Goods Stock Up 4.0 %

Shares of DKS traded up $8.64 during midday trading on Tuesday, hitting $224.16. The stock had a trading volume of 432,681 shares, compared to its average volume of 1,157,199. The company has a 50 day simple moving average of $209.54 and a two-hundred day simple moving average of $190.45. DICK’S Sporting Goods, Inc. has a twelve month low of $100.98 and a twelve month high of $234.47. The firm has a market cap of $18.27 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 2.43 and a beta of 1.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.71 and a quick ratio of 0.65.

DICK’S Sporting Goods (NYSE:DKS) last released its earnings results on Wednesday, May 29th. The sporting goods retailer reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.36. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.94 billion. DICK’S Sporting Goods had a return on equity of 41.80% and a net margin of 7.73%. DICK’S Sporting Goods’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.40 earnings per share. On average, analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.76 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Friday, June 14th. DICK’S Sporting Goods’s payout ratio is currently 36.42%.

Insider Buying and Selling

In related news, Director Desiree Ralls-Morrison sold 3,489 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $206.65, for a total value of $721,001.85. Following the completion of the sale, the director now directly owns 5,609 shares in the company, valued at $1,159,099.85. The sale was disclosed in a filing with the SEC, which is available at this link. In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 4,910 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $222.02, for a total transaction of $1,090,118.20. Following the sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at $3,664,218.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Desiree Ralls-Morrison sold 3,489 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $206.65, for a total transaction of $721,001.85. Following the transaction, the director now directly owns 5,609 shares in the company, valued at approximately $1,159,099.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,400 shares of company stock worth $1,811,336. Company insiders own 32.03% of the company’s stock.

Wall Street Analyst Weigh In

DKS has been the topic of several research reports. Loop Capital upped their target price on DICK’S Sporting Goods from $150.00 to $220.00 and gave the company a “hold” rating in a report on Monday, March 18th. Truist Financial increased their target price on DICK’S Sporting Goods from $243.00 to $256.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Stifel Nicolaus increased their target price on DICK’S Sporting Goods from $215.00 to $232.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Robert W. Baird raised their price objective on DICK’S Sporting Goods from $225.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Finally, Oppenheimer raised their price objective on DICK’S Sporting Goods from $240.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, DICK’S Sporting Goods has an average rating of “Moderate Buy” and a consensus price target of $237.09.

About DICK’S Sporting Goods

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.