Wedge Capital Management L L P NC Increases Stake in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Wedge Capital Management L L P NC lifted its position in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 8.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 231,588 shares of the sporting goods retailer's stock after acquiring an additional 18,602 shares during the period. DICK'S Sporting Goods accounts for about 1.0% of Wedge Capital Management L L P NC's investment portfolio, making the stock its 27th largest holding. Wedge Capital Management L L P NC owned about 0.28% of DICK'S Sporting Goods worth $52,997,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of DICK'S Sporting Goods in the 3rd quarter worth approximately $27,000. ORG Wealth Partners LLC purchased a new stake in shares of DICK'S Sporting Goods in the 3rd quarter worth approximately $30,000. True Wealth Design LLC grew its stake in shares of DICK'S Sporting Goods by 2,900.0% in the 3rd quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer's stock worth $31,000 after buying an additional 145 shares during the last quarter. Richardson Financial Services Inc. purchased a new stake in shares of DICK'S Sporting Goods in the 2nd quarter worth approximately $34,000. Finally, UMB Bank n.a. boosted its stake in DICK'S Sporting Goods by 454.8% during the 3rd quarter. UMB Bank n.a. now owns 172 shares of the sporting goods retailer's stock valued at $36,000 after purchasing an additional 141 shares during the last quarter. Institutional investors own 89.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DKS. UBS Group upgraded DICK'S Sporting Goods from a "neutral" rating to a "buy" rating and increased their target price for the company from $225.00 to $260.00 in a research note on Wednesday, November 27th. Truist Financial increased their target price on DICK'S Sporting Goods from $256.00 to $258.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Telsey Advisory Group reiterated an "outperform" rating and set a $260.00 target price on shares of DICK'S Sporting Goods in a research note on Tuesday, November 26th. Loop Capital lifted their price objective on DICK'S Sporting Goods from $220.00 to $225.00 and gave the stock a "hold" rating in a report on Wednesday, November 27th. Finally, Wedbush reissued a "neutral" rating and issued a $215.00 target price (down previously from $250.00) on shares of DICK'S Sporting Goods in a report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $246.10.

Insider Buying and Selling at DICK'S Sporting Goods

In other DICK'S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the completion of the transaction, the director now owns 50,997 shares in the company, valued at $11,808,355.35. This trade represents a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $229.25, for a total transaction 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 $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. Insiders own 32.03% of the company's stock.

DICK'S Sporting Goods Price Performance

Shares of DICK'S Sporting Goods stock traded up $0.96 during trading hours on Friday, hitting $228.09. The company's stock had a trading volume of 1,054,586 shares, compared to its average volume of 906,565. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. DICK'S Sporting Goods, Inc. has a 12-month low of $141.02 and a 12-month high of $239.30. The business has a 50 day moving average price of $217.66 and a two-hundred day moving average price of $213.44. The company has a market cap of $18.58 billion, a PE ratio of 16.30, a PEG ratio of 2.62 and a beta of 1.58.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.07. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.03 billion. During the same period in the previous year, the firm earned $2.85 EPS. The firm's revenue was up .5% compared to the same quarter last year. Analysts expect that DICK'S Sporting Goods, Inc. will post 13.88 earnings per share for the current fiscal year.

DICK'S Sporting Goods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, December 13th. DICK'S Sporting Goods's payout ratio is currently 31.45%.

DICK'S Sporting Goods Profile

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.