DICK’S Sporting Goods, Inc. (NYSE:DKS) Holdings Trimmed by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,496 shares of the sporting goods retailer’s stock after selling 3,043 shares during the period. Corebridge Financial Inc. owned approximately 0.08% of DICK’S Sporting Goods worth $14,988,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Commerce Bank raised its holdings 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 purchasing an additional 196 shares in the last quarter. Cerity Partners LLC grew its position in DICK’S Sporting Goods by 108.5% in the third quarter. Cerity Partners LLC now owns 14,647 shares of the sporting goods retailer’s stock worth $3,057,000 after buying an additional 7,621 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in shares of DICK’S Sporting Goods in the third quarter valued at $5,562,000. Daiwa Securities Group Inc. lifted its position in shares of DICK’S Sporting Goods by 9.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,500 shares of the sporting goods retailer’s stock valued at $939,000 after acquiring an additional 400 shares during the last quarter. Finally, Truvestments Capital LLC boosted its stake in shares of DICK’S Sporting Goods by 8.3% during the 3rd quarter. Truvestments Capital LLC now owns 4,294 shares of the sporting goods retailer’s stock worth $896,000 after acquiring an additional 328 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

DICK’S Sporting Goods Stock Up 5.4 %

DKS stock opened at $206.06 on Tuesday. The firm has a market cap of $16.79 billion, a PE ratio of 14.73, a PEG ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods, Inc. has a 1 year low of $182.84 and a 1 year high of $254.60. The company has a fifty day simple moving average of $224.69 and a 200 day simple moving average of $216.65. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48.

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

DICK’S Sporting Goods declared that its board has approved a stock buyback plan on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $1.2125 dividend. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.35%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is currently 34.54%.

Insider Transactions 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 dated Friday, January 17th. The stock was sold at an average price of $227.99, for a total value of $1,139,950.00. Following the transaction, the executive vice president now directly owns 16,504 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the sale, the chairman now owns 8,362,128 shares of the company’s stock, valued at approximately $1,917,017,844. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DKS. Argus boosted their target price on DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Truist Financial set a $245.00 price objective on shares of DICK’S Sporting Goods in a research note on Tuesday, March 11th. DA Davidson dropped their target price on shares of DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Morgan Stanley upped their price target on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Robert W. Baird lowered their price objective on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $245.50.

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.