HUB Investment Partners LLC Buys Shares of 6,670 DICK’S Sporting Goods, Inc. (NYSE:DKS)

HUB Investment Partners LLC bought a new stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,670 shares of the sporting goods retailer’s stock, valued at approximately $1,526,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DKS. CIBC Asset Management Inc grew its holdings in DICK’S Sporting Goods by 1.7% in the 3rd quarter. CIBC Asset Management Inc now owns 3,232 shares of the sporting goods retailer’s stock valued at $675,000 after buying an additional 54 shares during the last quarter. Quest Partners LLC grew its holdings in DICK’S Sporting Goods by 871.9% in the 3rd quarter. Quest Partners LLC now owns 4,150 shares of the sporting goods retailer’s stock valued at $866,000 after buying an additional 3,723 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in DICK’S Sporting Goods in the 3rd quarter valued at approximately $900,000. Avior Wealth Management LLC grew its holdings in DICK’S Sporting Goods by 276.8% in the 3rd quarter. Avior Wealth Management LLC now owns 1,172 shares of the sporting goods retailer’s stock valued at $245,000 after buying an additional 861 shares during the last quarter. Finally, Commerce Bank lifted its position in shares of DICK’S Sporting Goods by 7.1% in the 3rd quarter. Commerce Bank now owns 2,950 shares of the sporting goods retailer’s stock worth $616,000 after acquiring an additional 196 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

DKS has been the subject of a number of research reports. Stifel Nicolaus reduced their price objective on DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating for the company in a research report on Wednesday, March 12th. Truist Financial set a $245.00 price objective on DICK’S Sporting Goods in a research report on Tuesday, March 11th. Loop Capital reduced their price objective on DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating for the company in a research report on Thursday, March 13th. Telsey Advisory Group reiterated an “outperform” rating and issued a $250.00 price objective on shares of DICK’S Sporting Goods in a research report on Friday, March 14th. Finally, TD Cowen raised their price objective on DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $245.50.

Insider Buying and Selling

In other news, Director Lawrence J. Schorr sold 7,333 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total value of $1,697,956.15. Following the transaction, the director now owns 50,997 shares of the company’s stock, valued at approximately $11,808,355.35. This represents a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $227.99, for a total value of $1,139,950.00. Following the completion of the transaction, the executive vice president now directly owns 16,504 shares in the company, valued at $3,762,746.96. The trade was a 23.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,933 shares of company stock worth $39,655,456. Corporate insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Stock Down 3.5 %

Shares of DICK’S Sporting Goods stock opened at $191.25 on Friday. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. DICK’S Sporting Goods, Inc. has a 12 month low of $182.84 and a 12 month high of $254.60. The business has a fifty day simple moving average of $225.77 and a 200 day simple moving average of $217.13. The stock has a market cap of $15.58 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.15. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $3.85 earnings per share. Research analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio is presently 34.54%.

DICK’S Sporting Goods announced that its Board of Directors has initiated a share buyback program on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the sporting goods retailer to reacquire up to 18.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

About DICK’S Sporting Goods

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