HUB Investment Partners LLC Takes Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

HUB Investment Partners LLC purchased a new stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,670 shares of the sporting goods retailer's stock, valued at approximately $1,526,000.

Several other hedge funds also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in DICK'S Sporting Goods during the 3rd quarter worth approximately $27,000. New Wave Wealth Advisors LLC acquired a new position in DICK'S Sporting Goods in the fourth quarter worth $28,000. Rialto Wealth Management LLC bought a new stake in shares of DICK'S Sporting Goods during the fourth quarter worth $30,000. True Wealth Design LLC increased its stake 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 valued at $31,000 after buying an additional 145 shares in the last quarter. Finally, Sound Income Strategies LLC raised its holdings in shares of 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 buying an additional 118 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

Insider Buying and Selling

In related news, Chairman Edward W. Stack sold 160,600 shares of the company's stock in a transaction on 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 directly owns 8,362,128 shares of the company's stock, valued at approximately $1,917,017,844. This represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 16,504 shares of the company's stock, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 172,933 shares of company stock valued at $39,655,456. 32.03% of the stock is owned by corporate insiders.

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Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DKS shares. Truist Financial set a $245.00 price objective on shares of DICK'S Sporting Goods in a report on Tuesday, March 11th. Stifel Nicolaus decreased their price target on shares of DICK'S Sporting Goods from $240.00 to $226.00 and set a "hold" rating on the stock in a research note on Wednesday, March 12th. Wedbush reissued a "neutral" rating and issued a $215.00 price target on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Morgan Stanley upped their price objective on DICK'S Sporting Goods from $245.00 to $255.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Finally, Argus lifted their target price on DICK'S Sporting Goods from $255.00 to $280.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $245.50.

DICK'S Sporting Goods Trading Up 1.2 %

DKS traded up $2.41 during mid-day trading on Tuesday, hitting $207.97. The stock had a trading volume of 1,267,621 shares, compared to its average volume of 1,088,909. DICK'S Sporting Goods, Inc. has a 1-year low of $182.84 and a 1-year high of $254.60. The firm has a market capitalization of $16.94 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The stock's fifty day simple moving average is $224.69 and its 200-day simple moving average is $216.65.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.15. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the company posted $3.85 earnings per share. The company's revenue for the quarter was up .5% on a year-over-year basis. As a group, research analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK'S Sporting Goods declared that its board has initiated a share buyback program on Tuesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its shares are undervalued.

DICK'S Sporting Goods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $1.2125 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from DICK'S Sporting Goods's previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a dividend yield of 2.33%. DICK'S Sporting Goods's payout ratio is currently 34.54%.

DICK'S Sporting Goods Profile

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.