DICK’S Sporting Goods, Inc. (NYSE:DKS) Shares Sold by State Board of Administration of Florida Retirement System

Posted by Defense World Staff on May 10th, 2023

State Board of Administration of Florida Retirement System trimmed its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,188 shares of the sporting goods retailer’s stock after selling 1,140 shares during the period. State Board of Administration of Florida Retirement System owned about 0.08% of DICK’S Sporting Goods worth $7,721,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Balyasny Asset Management LLC lifted its position in DICK’S Sporting Goods by 6,908.1% during the third quarter. Balyasny Asset Management LLC now owns 1,244,493 shares of the sporting goods retailer’s stock valued at $130,224,000 after buying an additional 1,226,735 shares in the last quarter. Samlyn Capital LLC lifted its position in DICK’S Sporting Goods by 179.0% during the third quarter. Samlyn Capital LLC now owns 1,179,258 shares of the sporting goods retailer’s stock valued at $123,397,000 after buying an additional 756,539 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in DICK’S Sporting Goods by 3.5% during the third quarter. CIBC Private Wealth Group LLC now owns 542,036 shares of the sporting goods retailer’s stock valued at $56,718,000 after buying an additional 18,102 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in DICK’S Sporting Goods by 10.3% during the second quarter. Goldman Sachs Group Inc. now owns 475,022 shares of the sporting goods retailer’s stock valued at $35,803,000 after buying an additional 44,228 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in DICK’S Sporting Goods by 6.4% during the first quarter. First Trust Advisors LP now owns 355,871 shares of the sporting goods retailer’s stock valued at $35,594,000 after buying an additional 21,417 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DKS shares. Loop Capital boosted their target price on shares of DICK’S Sporting Goods from $130.00 to $150.00 and gave the stock a “hold” rating in a research report on Thursday, March 9th. Barclays boosted their target price on shares of DICK’S Sporting Goods from $139.00 to $174.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 8th. Bank of America boosted their target price on shares of DICK’S Sporting Goods from $145.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, March 8th. Telsey Advisory Group reissued an “outperform” rating and set a $165.00 target price on shares of DICK’S Sporting Goods in a research report on Friday, March 17th. Finally, Morgan Stanley boosted their target price on shares of DICK’S Sporting Goods from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 8th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.61.

DICK’S Sporting Goods Stock Up 0.0 %

Shares of NYSE:DKS opened at $141.05 on Wednesday. The stock has a market capitalization of $12.08 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 1.93 and a beta of 1.44. DICK’S Sporting Goods, Inc. has a 1-year low of $63.45 and a 1-year high of $152.61. The company’s fifty day moving average is $141.76 and its two-hundred day moving average is $127.81. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.81 and a current ratio of 1.88.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last released its quarterly earnings data on Tuesday, March 7th. The sporting goods retailer reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.07. DICK’S Sporting Goods had a net margin of 8.43% and a return on equity of 45.97%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter last year, the company earned $3.64 EPS. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.5 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 17th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Thursday, March 16th. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $0.49. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 37.14%.

Insider Buying and Selling

In related news, Chairman Edward W. Stack sold 159,461 shares of the stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $144.38, for a total value of $23,022,979.18. Following the sale, the chairman now owns 10,953,633 shares of the company’s stock, valued at approximately $1,581,485,532.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Lauren R. Hobart sold 83,392 shares of the stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $145.21, for a total value of $12,109,352.32. Following the completion of the transaction, the chief executive officer now owns 233,269 shares in the company, valued at approximately $33,872,991.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Edward W. Stack sold 159,461 shares of the stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $144.38, for a total transaction of $23,022,979.18. Following the completion of the transaction, the chairman now owns 10,953,633 shares of the company’s stock, valued at approximately $1,581,485,532.54. The disclosure for this sale can be found here. Insiders have sold a total of 285,382 shares of company stock valued at $41,042,070 in the last quarter. Company insiders own 32.83% of the company’s stock.

DICK’S Sporting Goods Profile

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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.