Wedge Capital Management L L P NC Purchases 18,602 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Wedge Capital Management L L P NC lifted its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 8.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 231,588 shares of the sporting goods retailer’s stock after purchasing an additional 18,602 shares during the quarter. DICK’S Sporting Goods comprises 1.0% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 27th biggest holding. Wedge Capital Management L L P NC owned approximately 0.28% of DICK’S Sporting Goods worth $52,997,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DKS. Brooklyn Investment Group purchased a new stake in shares of DICK’S Sporting Goods in the 3rd quarter worth about $27,000. ORG Wealth Partners LLC purchased a new stake in DICK’S Sporting Goods in the third quarter worth about $30,000. True Wealth Design LLC increased its stake in shares of DICK’S Sporting Goods by 2,900.0% during the third quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock valued at $31,000 after purchasing an additional 145 shares in the last quarter. Richardson Financial Services Inc. purchased a new position in shares of DICK’S Sporting Goods during the second quarter valued at approximately $34,000. Finally, UMB Bank n.a. boosted its position in shares of DICK’S Sporting Goods by 454.8% in the 3rd quarter. UMB Bank n.a. now owns 172 shares of the sporting goods retailer’s stock worth $36,000 after purchasing an additional 141 shares in the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DICK’S Sporting Goods

In other news, Director Lawrence J. Schorr sold 7,333 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total value of $1,697,956.15. Following the transaction, the director now directly owns 50,997 shares in the company, valued at $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction dated Monday, January 6th. The stock was 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 $1,917,017,844. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Stock Up 0.4 %

DKS opened at $228.09 on Friday. The firm’s 50 day simple moving average is $217.66 and its two-hundred day simple moving average is $213.44. The company has a market capitalization of $18.58 billion, a PE ratio of 16.30, a PEG ratio of 2.62 and a beta of 1.58. DICK’S Sporting Goods, Inc. has a 1-year low of $141.02 and a 1-year high of $239.30. 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 earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.07. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.03 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. DICK’S Sporting Goods’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.85 earnings per share. As a group, equities analysts forecast that DICK’S Sporting Goods, Inc. will post 13.88 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, December 13th. DICK’S Sporting Goods’s dividend payout ratio is 31.45%.

Analyst Ratings Changes

A number of research analysts have issued reports on DKS shares. Loop Capital lifted their price objective on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. TD Cowen upped their price target on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Truist Financial increased their price objective on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Telsey Advisory Group reiterated an “outperform” rating and issued a $260.00 target price on shares of DICK’S Sporting Goods in a research note on Tuesday, November 26th. Finally, UBS Group raised shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their price target for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $246.10.

DICK’S Sporting Goods Profile

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.