LPL Financial LLC Raises Stock Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

LPL Financial LLC lifted its stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,328 shares of the sporting goods retailer's stock after purchasing an additional 5,187 shares during the period. LPL Financial LLC owned 0.06% of DICK'S Sporting Goods worth $11,059,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of DKS. Greenleaf Trust raised its stake in DICK'S Sporting Goods by 3.0% in the fourth quarter. Greenleaf Trust now owns 1,721 shares of the sporting goods retailer's stock worth $394,000 after buying an additional 50 shares in the last quarter. Independent Advisor Alliance raised its position in shares of DICK'S Sporting Goods by 5.4% in the 4th quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer's stock worth $235,000 after acquiring an additional 53 shares in the last quarter. Atria Wealth Solutions Inc. raised its position in shares of DICK'S Sporting Goods by 2.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer's stock worth $577,000 after acquiring an additional 54 shares in the last quarter. Stonegate Investment Group LLC boosted its position in shares of DICK'S Sporting Goods by 2.9% during the fourth quarter. Stonegate Investment Group LLC now owns 2,066 shares of the sporting goods retailer's stock valued at $473,000 after purchasing an additional 58 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of DICK'S Sporting Goods by 9.4% during the fourth quarter. IFP Advisors Inc now owns 769 shares of the sporting goods retailer's stock valued at $176,000 after purchasing an additional 66 shares in the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DICK'S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 16,504 shares in the company, valued at $3,762,746.96. This represents a 23.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Edward W. Stack sold 160,600 shares of DICK'S Sporting Goods 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 transaction, the chairman now owns 8,362,128 shares in the company, valued at $1,917,017,844. This trade represents 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 corporate insiders.

DICK'S Sporting Goods Price Performance

DKS opened at $184.89 on Friday. The company's 50-day simple moving average is $220.38 and its two-hundred day simple moving average is $216.23. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The stock has a market capitalization of $15.06 billion, a P/E ratio of 13.22, a P/E/G ratio of 2.47 and a beta of 1.53. DICK'S Sporting Goods, Inc. has a 52-week low of $176.81 and a 52-week high of $254.60.

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

DICK'S Sporting Goods declared that its board has approved a stock repurchase program on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

DICK'S Sporting Goods Increases Dividend

The company 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 dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from DICK'S Sporting Goods's previous quarterly dividend of $1.10. DICK'S Sporting Goods's dividend payout ratio is 34.54%.

Analyst Ratings Changes

Several brokerages have commented on DKS. Truist Financial set a $245.00 price objective on DICK'S Sporting Goods in a research report on Tuesday, March 11th. Morgan Stanley lifted their price target 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. Wedbush reissued a "neutral" rating and set a $215.00 price objective on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Robert W. Baird decreased their target price on shares of DICK'S Sporting Goods from $235.00 to $230.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. Finally, TD Cowen boosted their price target on 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. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $245.50.

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.

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