Groesbeck Investment Management Corp NJ Sells 1,930 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Groesbeck Investment Management Corp NJ lowered its position in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 53.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,673 shares of the sporting goods retailer’s stock after selling 1,930 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in DICK’S Sporting Goods were worth $383,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in DICK’S Sporting Goods during the 3rd quarter valued at about $27,000. New Wave Wealth Advisors LLC purchased a new position in DICK’S Sporting Goods in the fourth quarter worth about $28,000. ORG Wealth Partners LLC purchased a new position in DICK’S Sporting Goods in the third quarter worth about $30,000. True Wealth Design LLC raised its holdings in DICK’S Sporting Goods by 2,900.0% in the third quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock worth $31,000 after buying an additional 145 shares during the last quarter. Finally, Sound Income Strategies LLC raised its holdings in DICK’S Sporting Goods by 590.0% in the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock worth $32,000 after buying an additional 118 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

Analyst Ratings Changes

DKS has been the subject of several recent analyst reports. Truist Financial lifted their target price on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Loop Capital lifted their price target on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Wedbush reiterated a “neutral” rating and issued a $215.00 price target (down from $250.00) on shares of DICK’S Sporting Goods in a research note on Wednesday, November 27th. Argus lifted their price target on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, UBS Group upgraded shares of 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 research note on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $248.09.

DICK’S Sporting Goods Stock Up 0.4 %

Shares of NYSE DKS opened at $238.12 on Wednesday. DICK’S Sporting Goods, Inc. has a 1 year low of $152.42 and a 1 year high of $254.60. The firm has a 50-day simple moving average of $227.23 and a two-hundred day simple moving average of $216.34. The company has a market cap of $19.40 billion, a P/E ratio of 17.02, a PEG ratio of 2.73 and a beta of 1.57. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56.

DICK’S Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.07. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the previous year, the business earned $2.85 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Research analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.40 annualized dividend and a dividend yield of 1.85%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 31.45%.

Insider Buying and Selling at DICK’S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK’S Sporting Goods stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at approximately $3,762,746.96. The trade was a 23.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Edward W. Stack sold 160,600 shares of DICK’S Sporting Goods stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the sale, the chairman now directly owns 8,362,128 shares of the company’s stock, valued at $1,917,017,844. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 172,933 shares of company stock worth $39,655,456 over the last 90 days. Company insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Company Profile

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.