Ridgepath Capital Management LLC Makes New Investment in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Ridgepath Capital Management LLC purchased a new position in DICK’S Sporting Goods, Inc. (NYSE:DKS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,000 shares of the sporting goods retailer’s stock, valued at approximately $229,000.

Several other hedge funds also recently made changes to their positions in the stock. Brooklyn Investment Group bought a new stake in DICK’S Sporting Goods during the third quarter valued at $27,000. ORG Wealth Partners LLC bought a new stake in shares of DICK’S Sporting Goods during the 3rd quarter valued at about $30,000. True Wealth Design LLC increased its position in shares of DICK’S Sporting Goods by 2,900.0% in the third quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock worth $31,000 after purchasing an additional 145 shares during the last quarter. Sound Income Strategies LLC raised its stake in DICK’S Sporting Goods by 590.0% in the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock valued at $32,000 after purchasing an additional 118 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in DICK’S Sporting Goods by 454.8% during the third quarter. UMB Bank n.a. now owns 172 shares of the sporting goods retailer’s stock valued at $36,000 after purchasing an additional 141 shares during the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DICK’S Sporting Goods

In related news, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the completion of the transaction, the chairman now owns 8,362,128 shares of the company’s stock, valued at approximately $1,917,017,844. This trade represents a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $227.99, for a total value of $1,139,950.00. Following the sale, the executive vice president now directly owns 16,504 shares in the company, valued at $3,762,746.96. The trade was a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,933 shares of company stock valued at $39,655,456 over the last 90 days. Company insiders own 32.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DKS shares. Telsey Advisory Group restated an “outperform” rating and set a $260.00 price objective on shares of DICK’S Sporting Goods in a research report on Tuesday, November 26th. UBS Group raised shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and upped their price objective for the company from $225.00 to $260.00 in a research note on Wednesday, November 27th. Argus lifted their price target on DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday. Truist Financial boosted 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. Finally, Loop Capital lifted their price objective on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $248.09.

DICK’S Sporting Goods Trading Up 1.7 %

Shares of NYSE:DKS opened at $249.87 on Friday. The stock has a 50 day moving average of $225.67 and a 200 day moving average of $215.89. The company has a market cap of $20.36 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 2.79 and a beta of 1.58. DICK’S Sporting Goods, Inc. has a 12-month low of $148.95 and a 12-month high of $254.60. 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 posted its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.07. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.03 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $2.85 earnings per share. As a group, equities research analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $1.10 dividend. The ex-dividend date was Friday, December 13th. This represents a $4.40 annualized dividend and a dividend yield of 1.76%. DICK’S Sporting Goods’s payout ratio is 31.45%.

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.