Corebridge Financial Inc. Sells 3,043 Shares of DICK'S Sporting Goods, Inc. (NYSE:DKS)

Corebridge Financial Inc. trimmed its stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,496 shares of the sporting goods retailer's stock after selling 3,043 shares during the quarter. Corebridge Financial Inc. owned about 0.08% of DICK'S Sporting Goods worth $14,988,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Marion Wealth Management bought a new stake in shares of DICK'S Sporting Goods during the 4th quarter worth about $545,000. Argus Investors Counsel Inc. bought a new position in DICK'S Sporting Goods during the fourth quarter worth about $257,000. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its holdings in DICK'S Sporting Goods by 78.2% in the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,495 shares of the sporting goods retailer's stock valued at $2,631,000 after purchasing an additional 5,046 shares during the period. Bridgewater Associates LP grew its position in shares of DICK'S Sporting Goods by 245.7% during the 3rd quarter. Bridgewater Associates LP now owns 6,002 shares of the sporting goods retailer's stock worth $1,253,000 after purchasing an additional 4,266 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in shares of DICK'S Sporting Goods during the third quarter worth approximately $5,562,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Lawrence J. Schorr sold 7,333 shares of DICK'S Sporting Goods stock in a transaction that occurred on 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 of the company's stock, valued at $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the 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 sale, the executive vice president now directly owns 16,504 shares of the company's stock, valued at $3,762,746.96. This represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 172,933 shares of company stock valued at $39,655,456 over the last 90 days. 32.03% of the stock is owned by insiders.

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DICK'S Sporting Goods Trading Down 3.8 %

DICK'S Sporting Goods stock traded down $8.00 during trading hours on Friday, hitting $202.09. The stock had a trading volume of 1,593,082 shares, compared to its average volume of 1,113,853. The business's 50 day simple moving average is $223.19 and its 200-day simple moving average is $216.56. DICK'S Sporting Goods, Inc. has a one year low of $182.84 and a one year high of $254.60. The stock has a market cap of $16.47 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 2.47 and a beta of 1.53. 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 released its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm posted $3.85 earnings per share. The firm's revenue was up .5% compared to the same quarter last year. On average, equities analysts predict that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

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

DICK'S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.40%. 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. DICK'S Sporting Goods's payout ratio is 34.54%.

Analysts Set New Price Targets

DKS has been the topic of a number of analyst reports. Wedbush reissued a "neutral" rating and set a $215.00 price target on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Argus raised their price target on DICK'S Sporting Goods from $255.00 to $280.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. TD Cowen boosted their price target on DICK'S Sporting Goods from $270.00 to $294.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Citigroup reiterated a "neutral" rating and set a $220.00 price objective (down from $230.00) on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Finally, Morgan Stanley boosted their target price on shares of DICK'S Sporting Goods from $245.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.