DICK'S Sporting Goods, Inc. (NYSE:DKS) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC trimmed its stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 404,116 shares of the sporting goods retailer's stock after selling 7,920 shares during the period. CIBC Private Wealth Group LLC owned 0.50% of DICK'S Sporting Goods worth $94,373,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Wealthfront Advisers LLC acquired a new position in shares of DICK'S Sporting Goods during the 4th quarter worth about $1,893,210,000. Norges Bank acquired a new position in shares of DICK'S Sporting Goods during the fourth quarter valued at approximately $221,693,000. Holocene Advisors LP purchased a new position in shares of DICK'S Sporting Goods in the third quarter valued at approximately $70,562,000. KBC Group NV lifted its position in shares of DICK'S Sporting Goods by 86.8% in the fourth quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer's stock valued at $107,043,000 after acquiring an additional 217,390 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of DICK'S Sporting Goods in the third quarter worth approximately $32,093,000. Institutional investors and hedge funds own 89.83% of the company's stock.

Insider Buying and Selling

In other DICK'S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of the business's stock in a transaction that occurred on Friday, January 17th. The shares were 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 in the company, valued at $3,762,746.96. The trade was a 23.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Edward W. Stack sold 160,600 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the completion of the sale, the chairman now owns 8,362,128 shares in the company, valued at $1,917,017,844. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 32.03% of the stock is owned by insiders.

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DICK'S Sporting Goods Trading Down 1.3 %

DKS stock traded down $2.34 during mid-day trading on Friday, hitting $182.63. 3,464,057 shares of the company were exchanged, compared to its average volume of 1,132,468. The business has a fifty day simple moving average of $219.03 and a 200-day simple moving average of $216.03. The firm has a market capitalization of $14.88 billion, a P/E ratio of 13.05, a PEG ratio of 2.47 and a beta of 1.53. DICK'S Sporting Goods, Inc. has a 12-month low of $168.22 and a 12-month high of $254.60. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48.

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, beating the consensus estimate of $3.47 by $0.15. DICK'S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the firm earned $3.85 EPS. The firm's revenue for the quarter was up .5% on a year-over-year basis. On average, equities research analysts predict that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods announced that its board has authorized a share buyback plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

DICK'S Sporting Goods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $1.2125 dividend. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Friday, March 28th. DICK'S Sporting Goods's payout ratio is currently 34.54%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DKS. Telsey Advisory Group restated an "outperform" rating and issued a $250.00 price objective on shares of DICK'S Sporting Goods in a report on Friday, March 14th. TD Cowen raised 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 set a $245.00 price objective on shares of DICK'S Sporting Goods in a research note on Tuesday, March 11th. Guggenheim reissued a "neutral" rating on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Finally, Wedbush restated a "neutral" rating and set a $215.00 target price on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $245.50.

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.