Fulton Bank N.A. Lowers Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Fulton Bank N.A. decreased its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,983 shares of the sporting goods retailer’s stock after selling 721 shares during the period. Fulton Bank N.A.’s holdings in DICK’S Sporting Goods were worth $3,658,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. National Bank of Canada FI increased its holdings in shares of DICK’S Sporting Goods by 4.7% in the second quarter. National Bank of Canada FI now owns 37,843 shares of the sporting goods retailer’s stock valued at $7,649,000 after purchasing an additional 1,709 shares during the period. Arizona State Retirement System boosted its holdings in DICK’S Sporting Goods by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 16,173 shares of the sporting goods retailer’s stock worth $3,475,000 after buying an additional 172 shares during the last quarter. Cullen Frost Bankers Inc. grew its stake in DICK’S Sporting Goods by 30.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,300 shares of the sporting goods retailer’s stock valued at $279,000 after acquiring an additional 300 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of DICK’S Sporting Goods during the 2nd quarter worth $2,716,000. Finally, Quest Partners LLC purchased a new stake in shares of DICK’S Sporting Goods in the 2nd quarter valued at approximately $92,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Lawrence J. Schorr sold 7,333 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the completion of the sale, the director now directly owns 50,997 shares in the company, valued at $11,808,355.35. This represents a 12.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 32.03% of the stock is owned by corporate insiders.

DICK’S Sporting Goods Stock Performance

DKS traded up $3.81 during trading on Wednesday, hitting $231.40. The stock had a trading volume of 259,327 shares, compared to its average volume of 838,990. The firm has a market capitalization of $18.85 billion, a P/E ratio of 16.54, a PEG ratio of 2.52 and a beta of 1.58. The company’s 50-day moving average price is $212.86 and its 200 day moving average price is $212.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. DICK’S Sporting Goods, Inc. has a twelve month low of $137.44 and a twelve month high of $239.30.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.07. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.03 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. DICK’S Sporting Goods’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.85 earnings per share. On average, equities research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.88 EPS for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $1.10 dividend. The ex-dividend date was Friday, December 13th. This represents a $4.40 annualized dividend and a dividend yield of 1.90%. DICK’S Sporting Goods’s dividend payout ratio is currently 31.45%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DKS shares. Loop Capital lifted their price objective on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Telsey Advisory Group restated an “outperform” rating and issued a $260.00 price objective on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. Wedbush reissued a “neutral” rating and issued a $215.00 target price (down previously from $250.00) on shares of DICK’S Sporting Goods in a report on Wednesday, November 27th. UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $225.00 to $260.00 in a report on Wednesday, November 27th. Finally, Truist Financial increased their price objective on DICK’S Sporting Goods from $256.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DICK’S Sporting Goods has a consensus rating of “Moderate Buy” and an average price target of $244.95.

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.