CIBC Private Wealth Group LLC Sells 7,920 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

CIBC Private Wealth Group LLC decreased its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 404,116 shares of the sporting goods retailer’s stock after selling 7,920 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in DICK’S Sporting Goods were worth $94,373,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Greenleaf Trust raised its position in shares of DICK’S Sporting Goods by 3.0% during the 4th quarter. Greenleaf Trust now owns 1,721 shares of the sporting goods retailer’s stock valued at $394,000 after buying an additional 50 shares in the last quarter. Independent Advisor Alliance raised its position in DICK’S Sporting Goods by 5.4% during the fourth quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer’s stock valued at $235,000 after purchasing an additional 53 shares during the period. Atria Wealth Solutions Inc. raised its position in DICK’S Sporting Goods by 2.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer’s stock valued at $577,000 after purchasing an additional 54 shares during the period. Stonegate Investment Group LLC lifted its stake in shares of DICK’S Sporting Goods by 2.9% in the 4th quarter. Stonegate Investment Group LLC now owns 2,066 shares of the sporting goods retailer’s stock valued at $473,000 after purchasing an additional 58 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of DICK’S Sporting Goods by 9.4% in the 4th quarter. IFP Advisors Inc now owns 769 shares of the sporting goods retailer’s stock worth $176,000 after purchasing an additional 66 shares during the period. Institutional investors own 89.83% of the company’s stock.

Insider Buying and Selling

In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of the business’s stock in a transaction dated 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 approximately $3,762,746.96. The trade was a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction dated 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 approximately $1,917,017,844. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 172,933 shares of company stock worth $39,655,456 in the last three months. 32.03% of the stock is owned by insiders.

DICK’S Sporting Goods Stock Down 3.8 %

Shares of DICK’S Sporting Goods stock opened at $202.09 on Monday. 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 debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The stock has a market cap of $16.47 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 2.47 and a beta of 1.53. The firm’s 50-day moving average is $223.19 and its two-hundred day moving average is $216.62.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.15. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. DICK’S Sporting Goods’s revenue was up .5% compared to the same quarter last year. During the same period last year, the company posted $3.85 earnings per share. As a group, research analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The business 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 represents a $4.85 annualized dividend and a dividend yield of 2.40%. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 28th. DICK’S Sporting Goods’s payout ratio is presently 34.54%.

Analyst Ratings Changes

Several analysts recently weighed in on DKS shares. Robert W. Baird decreased their price target on DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. TD Cowen increased their target price on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley lifted their price target on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Truist Financial set a $245.00 price objective on shares of DICK’S Sporting Goods in a research report on Tuesday, March 11th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $250.00 price objective on shares of DICK’S Sporting Goods in a research note on Friday, March 14th. Nine 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, DICK’S Sporting Goods has an average rating of “Moderate Buy” and an average target price of $245.50.

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.