Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS – Free Report) by 6.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 145,446 shares of the sporting goods retailer’s stock after buying an additional 9,373 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.16% of DICK’S Sporting Goods worth $28,840,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of the stock. Broad Peak Investment Advisers Pte Ltd raised its holdings in shares of DICK’S Sporting Goods by 42.4% during the fourth quarter. Broad Peak Investment Advisers Pte Ltd now owns 37,804 shares of the sporting goods retailer’s stock valued at $7,484,000 after purchasing an additional 11,250 shares during the period. SG Americas Securities LLC grew its stake in shares of DICK’S Sporting Goods by 1,122.1% in the 4th quarter. SG Americas Securities LLC now owns 80,351 shares of the sporting goods retailer’s stock valued at $15,907,000 after buying an additional 73,776 shares during the period. Financial Synergies Wealth Advisors Inc. bought a new stake in DICK’S Sporting Goods in the 4th quarter valued at about $1,446,000. Principal Financial Group Inc. increased its position in DICK’S Sporting Goods by 56.3% in the 4th quarter. Principal Financial Group Inc. now owns 503,077 shares of the sporting goods retailer’s stock valued at $99,597,000 after buying an additional 181,223 shares in the last quarter. Finally, SCS Capital Management LLC raised its stake in DICK’S Sporting Goods by 10.6% during the 4th quarter. SCS Capital Management LLC now owns 71,121 shares of the sporting goods retailer’s stock worth $14,080,000 after buying an additional 6,837 shares during the period. Institutional investors own 89.83% of the company’s stock.
DICK’S Sporting Goods Price Performance
DKS stock opened at $216.18 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.38 and a current ratio of 1.50. The business has a 50-day simple moving average of $224.03 and a two-hundred day simple moving average of $212.41. The company has a market capitalization of $19.35 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. DICK’S Sporting Goods, Inc. has a 52-week low of $186.67 and a 52-week high of $244.38.
DICK’S Sporting Goods Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a $1.25 dividend. The ex-dividend date was Friday, June 12th. This represents a $5.00 annualized dividend and a dividend yield of 2.3%. DICK’S Sporting Goods’s dividend payout ratio is presently 47.53%.
Analyst Ratings Changes
DKS has been the subject of a number of research reports. Truist Financial raised their price objective on DICK’S Sporting Goods from $252.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Robert W. Baird set a $264.00 target price on DICK’S Sporting Goods in a report on Thursday, May 28th. Wells Fargo & Company reissued a “positive” rating on shares of DICK’S Sporting Goods in a research report on Thursday, May 28th. Weiss Ratings lowered shares of DICK’S Sporting Goods from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, June 5th. Finally, JPMorgan Chase & Co. upgraded shares of DICK’S Sporting Goods from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $240.00 to $270.00 in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $254.71.
Check Out Our Latest Stock Analysis on DICK’S Sporting Goods
Insider Activity
In other news, EVP Julie Lodge-Jarrett sold 4,140 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $223.56, for a total value of $925,538.40. Following the completion of the sale, the executive vice president owned 24,757 shares in the company, valued at $5,534,674.92. This represents a 14.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 28.91% of the stock is currently owned by insiders.
DICK’S Sporting Goods Company Profile
DICK’S Sporting Goods is a leading U.S.-based sporting goods retailer that sells a broad range of sports equipment, apparel, footwear and outdoor gear. The company operates an omnichannel business combining physical stores with digital sales, offering products for team sports, fitness, hunting and fishing, golf, and general active lifestyle categories. In addition to its flagship DICK’S stores, the company operates specialty formats such as Golf Galaxy and branded service offerings including team-sports sales and custom equipment solutions.
The company traces its roots to a single sporting goods outlet founded in 1948 and has since grown into a national retail chain serving customers across the United States.
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