Groesbeck Investment Management Corp NJ Trims Stock Holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Groesbeck Investment Management Corp NJ cut its holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 53.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,673 shares of the sporting goods retailer's stock after selling 1,930 shares during the quarter. Groesbeck Investment Management Corp NJ's holdings in DICK'S Sporting Goods were worth $383,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Truist Financial Corp raised its stake in DICK'S Sporting Goods by 1.1% in the second quarter. Truist Financial Corp now owns 18,055 shares of the sporting goods retailer's stock worth $3,879,000 after buying an additional 198 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of DICK'S Sporting Goods by 54.6% during the 2nd quarter. Cetera Investment Advisers now owns 11,672 shares of the sporting goods retailer's stock worth $2,508,000 after purchasing an additional 4,124 shares during the last quarter. GAMMA Investing LLC boosted its position in DICK'S Sporting Goods by 21.0% during the third quarter. GAMMA Investing LLC now owns 1,164 shares of the sporting goods retailer's stock valued at $243,000 after purchasing an additional 202 shares in the last quarter. Bath Savings Trust Co grew its stake in DICK'S Sporting Goods by 191.2% in the third quarter. Bath Savings Trust Co now owns 4,711 shares of the sporting goods retailer's stock valued at $983,000 after purchasing an additional 3,093 shares during the last quarter. Finally, Atomi Financial Group Inc. raised its holdings in DICK'S Sporting Goods by 10.2% in the third quarter. Atomi Financial Group Inc. now owns 1,236 shares of the sporting goods retailer's stock worth $258,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company's stock.

DICK'S Sporting Goods Price Performance

Shares of DKS stock traded down $6.23 during trading hours on Friday, hitting $233.99. 767,865 shares of the company's stock were exchanged, compared to its average volume of 1,028,015. DICK'S Sporting Goods, Inc. has a fifty-two week low of $156.65 and a fifty-two week high of $254.60. The firm has a market cap of $19.06 billion, a P/E ratio of 16.73, a P/E/G ratio of 2.57 and a beta of 1.57. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $228.82 and a two-hundred day moving average of $216.86.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.07. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm posted $2.85 earnings per share. Sell-side analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK'S Sporting Goods Announces Dividend

The company also recently announced 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 of this dividend was Friday, December 13th. This represents a $4.40 annualized dividend and a dividend yield of 1.88%. DICK'S Sporting Goods's dividend payout ratio (DPR) is presently 31.45%.

Wall Street Analysts Forecast Growth

DKS has been the topic of a number of analyst reports. TD Cowen lifted their price objective on shares of DICK'S Sporting Goods from $270.00 to $294.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Wedbush reaffirmed a "neutral" rating and set a $215.00 price target (down from $250.00) on shares of DICK'S Sporting Goods in a research report on Wednesday, November 27th. Loop Capital raised 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. UBS Group raised DICK'S Sporting Goods from a "neutral" rating to a "buy" rating and upped their target price for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Finally, Argus upped their price objective on shares of DICK'S Sporting Goods from $255.00 to $280.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, DICK'S Sporting Goods has a consensus rating of "Moderate Buy" and a consensus target price of $248.09.

Insider Transactions at DICK'S Sporting Goods

In other DICK'S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $229.25, for a total value of $36,817,550.00. Following the transaction, the chairman now owns 8,362,128 shares in the company, valued at approximately $1,917,017,844. This trade represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lawrence J. Schorr sold 7,333 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 172,933 shares of company stock valued at $39,655,456 over the last ninety days. Insiders own 32.03% of the company's stock.

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.