Sumitomo Mitsui Trust Group Inc. Buys 657 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,713 shares of the sporting goods retailer’s stock after acquiring an additional 657 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.18% of DICK’S Sporting Goods worth $32,887,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC bought a new position in shares of DICK’S Sporting Goods during the fourth quarter valued at about $293,000. Argus Investors Counsel Inc. bought a new position in shares of DICK’S Sporting Goods during the 4th quarter worth approximately $257,000. Caitlin John LLC boosted its stake in shares of DICK’S Sporting Goods by 2.0% in the 4th quarter. Caitlin John LLC now owns 11,779 shares of the sporting goods retailer’s stock worth $2,696,000 after buying an additional 235 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of DICK’S Sporting Goods by 13.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,552 shares of the sporting goods retailer’s stock valued at $12,045,000 after acquiring an additional 6,168 shares in the last quarter. Finally, Hager Investment Management Services LLC bought a new position in shares of DICK’S Sporting Goods in the fourth quarter valued at approximately $866,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the completion of the sale, the director now directly owns 50,997 shares of the company’s stock, valued at approximately $11,808,355.35. The trade was a 12.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the transaction, the executive vice president now owns 16,504 shares of the company’s stock, valued at $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,933 shares of company stock worth $39,655,456. Insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Price Performance

Shares of NYSE:DKS opened at $244.13 on Wednesday. The company has a 50 day moving average of $229.93 and a 200 day moving average of $217.54. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The stock has a market cap of $19.89 billion, a P/E ratio of 17.45, a P/E/G ratio of 2.57 and a beta of 1.57. DICK’S Sporting Goods, Inc. has a 12 month low of $160.31 and a 12 month high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.07. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same period in the previous year, the business earned $2.85 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. As a group, sell-side analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Friday, December 13th. DICK’S Sporting Goods’s payout ratio is 31.45%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley boosted their price objective on DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. TD Cowen boosted 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 report on Wednesday, January 8th. Truist Financial raised their price objective on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $260.00 price objective on shares of DICK’S Sporting Goods in a research report on Tuesday, November 26th. Finally, Wedbush reissued a “neutral” rating and set a $215.00 target price (down from $250.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.09.

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.