Truist Financial Corp Sells 871 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Truist Financial Corp cut its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,897 shares of the sporting goods retailer’s stock after selling 871 shares during the period. Truist Financial Corp’s holdings in DICK’S Sporting Goods were worth $2,777,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in shares of DICK’S Sporting Goods by 9,735.6% in the third quarter. Victory Capital Management Inc. now owns 2,239,273 shares of the sporting goods retailer’s stock valued at $243,140,000 after acquiring an additional 2,216,506 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of DICK’S Sporting Goods by 4.5% in the 4th quarter. Pacer Advisors Inc. now owns 817,300 shares of the sporting goods retailer’s stock valued at $120,102,000 after purchasing an additional 34,942 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of DICK’S Sporting Goods by 145.0% in the 3rd quarter. AQR Capital Management LLC now owns 789,482 shares of the sporting goods retailer’s stock worth $85,722,000 after purchasing an additional 467,243 shares during the period. Barclays PLC boosted its stake in shares of DICK’S Sporting Goods by 148.3% during the third quarter. Barclays PLC now owns 592,991 shares of the sporting goods retailer’s stock valued at $64,388,000 after purchasing an additional 354,217 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in DICK’S Sporting Goods by 4.4% during the third quarter. Northern Trust Corp now owns 552,639 shares of the sporting goods retailer’s stock valued at $60,006,000 after buying an additional 23,258 shares during the period. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at DICK’S Sporting Goods

In related news, major shareholder William Colombo Trustee U/A Dt acquired 40,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were acquired at an average cost of $213.93 per share, with a total value of $8,557,200.00. Following the completion of the acquisition, the insider now directly owns 8,818,615 shares in the company, valued at approximately $1,886,566,306.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder William Colombo Trustee U/A Dt acquired 40,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was bought at an average cost of $213.93 per share, for a total transaction of $8,557,200.00. Following the purchase, the insider now owns 8,818,615 shares in the company, valued at $1,886,566,306.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Elizabeth H. Baran sold 2,175 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $221.78, for a total value of $482,371.50. Following the transaction, the senior vice president now directly owns 11,051 shares of the company’s stock, valued at approximately $2,450,890.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,763 shares of company stock valued at $46,483,438. 32.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DKS. UBS Group upped their target price on DICK’S Sporting Goods from $142.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Jefferies Financial Group started coverage on DICK’S Sporting Goods in a research note on Friday, April 12th. They issued a “hold” rating and a $211.00 target price on the stock. The Goldman Sachs Group raised their price target on shares of DICK’S Sporting Goods from $157.00 to $247.00 and gave the company a “buy” rating in a report on Friday, March 15th. TD Cowen boosted their price objective on shares of DICK’S Sporting Goods from $177.00 to $226.00 and gave the stock an “outperform” rating in a research note on Thursday, March 14th. Finally, Morgan Stanley raised their target price on shares of DICK’S Sporting Goods from $160.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $208.64.

DICK’S Sporting Goods Stock Down 1.5 %

DKS stock opened at $202.62 on Wednesday. The firm’s fifty day moving average is $202.88 and its 200 day moving average is $161.55. The firm has a market cap of $16.71 billion, a PE ratio of 16.64, a P/E/G ratio of 2.46 and a beta of 1.61. DICK’S Sporting Goods, Inc. has a one year low of $100.98 and a one year high of $225.79. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.74 and a current ratio of 1.78.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Thursday, March 14th. The sporting goods retailer reported $3.85 EPS for the quarter, beating analysts’ consensus estimates of $3.35 by $0.50. The firm had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. DICK’S Sporting Goods had a return on equity of 42.99% and a net margin of 8.06%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $2.93 EPS. On average, research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.26 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a dividend of $1.10 per share. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.00. The ex-dividend date was Wednesday, March 27th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.17%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 36.12%.

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.