Cambridge Investment Research Advisors Inc. Purchases 341 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Posted by Defense World Staff on May 14th, 2023

Cambridge Investment Research Advisors Inc. grew its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,615 shares of the sporting goods retailer’s stock after buying an additional 341 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in DICK’S Sporting Goods were worth $3,081,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Balyasny Asset Management LLC raised its position in DICK’S Sporting Goods by 6,908.1% in the 3rd 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 during the last quarter. Samlyn Capital LLC boosted its stake in DICK’S Sporting Goods by 179.0% in the 3rd quarter. Samlyn Capital LLC now owns 1,179,258 shares of the sporting goods retailer’s stock valued at $123,397,000 after purchasing an additional 756,539 shares during the period. Marshall Wace LLP bought a new stake in shares of DICK’S Sporting Goods during the 3rd quarter valued at $24,329,000. Howard Hughes Medical Institute bought a new stake in shares of DICK’S Sporting Goods during the 3rd quarter valued at $14,964,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of DICK’S Sporting Goods during the 3rd quarter valued at $12,191,000. Institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on DKS. Wedbush upped their target price on DICK’S Sporting Goods from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, March 8th. Cowen increased their price target on DICK’S Sporting Goods from $155.00 to $166.00 in a report on Monday, February 6th. Oppenheimer increased their price target on DICK’S Sporting Goods from $138.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, March 8th. JPMorgan Chase & Co. increased their price objective on DICK’S Sporting Goods from $125.00 to $148.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 8th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $165.00 price objective on shares of DICK’S Sporting Goods in a research note on Friday, March 17th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, DICK’S Sporting Goods presently has an average rating of “Moderate Buy” and an average price target of $156.61.

Insider Buying and Selling at DICK’S Sporting Goods

In other news, Chairman Edward W. Stack sold 159,461 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $144.38, for a total value of $23,022,979.18. Following the sale, the chairman now directly owns 10,953,633 shares of the company’s stock, valued at approximately $1,581,485,532.54. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Lauren R. Hobart sold 83,392 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $145.21, for a total value of $12,109,352.32. Following the sale, the chief executive officer now directly owns 233,269 shares of the company’s stock, valued at approximately $33,872,991.49. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Edward W. Stack sold 159,461 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 10,953,633 shares in the company, valued at $1,581,485,532.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 285,382 shares of company stock valued at $41,042,070. 32.83% of the stock is currently owned by corporate insiders.

DICK’S Sporting Goods Stock Up 0.5 %

DKS opened at $140.00 on Friday. The company has a market cap of $11.99 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.93 and a beta of 1.44. The business’s 50-day moving average price is $142.33 and its 200-day moving average price is $128.24. The company has a current ratio of 1.88, a quick ratio of 0.81 and a debt-to-equity ratio of 0.61. DICK’S Sporting Goods, Inc. has a 12 month low of $63.45 and a 12 month high of $152.61.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last announced its quarterly earnings results on Tuesday, March 7th. The sporting goods retailer reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.07. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.45 billion. DICK’S Sporting Goods had a return on equity of 45.97% and a net margin of 8.43%. DICK’S Sporting Goods’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.64 EPS. On average, equities analysts expect 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. Shareholders of record on Friday, March 17th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.86%. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $0.49. The ex-dividend date was Thursday, March 16th. DICK’S Sporting Goods’s payout ratio is presently 37.14%.

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.