Kestra Investment Management LLC Boosts Stock Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Kestra Investment Management LLC increased its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 86.6% in the 4th quarter, HoldingsChannel reports. The firm owned 3,775 shares of the sporting goods retailer’s stock after purchasing an additional 1,752 shares during the period. Kestra Investment Management LLC’s holdings in DICK’S Sporting Goods were worth $864,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Kerusso Capital Management LLC acquired a new position in DICK’S Sporting Goods during the third quarter worth about $1,554,000. National Pension Service acquired a new position in DICK’S Sporting Goods during the third quarter worth about $4,195,000. Marion Wealth Management acquired a new position in DICK’S Sporting Goods during the fourth quarter worth about $545,000. Strategy Asset Managers LLC acquired a new position in DICK’S Sporting Goods during the third quarter worth about $4,325,000. Finally, Argus Investors Counsel Inc. acquired a new position in DICK’S Sporting Goods during the fourth quarter worth about $257,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Edward W. Stack sold 160,600 shares of the firm’s 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 of the company’s stock, valued at approximately $1,917,017,844. This trade represents a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 16,504 shares in the company, valued at approximately $3,762,746.96. This represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,933 shares of company stock valued at $39,655,456. Company insiders own 32.03% of the company’s stock.

Wall Street Analyst Weigh In

DKS has been the topic of several recent analyst reports. UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and upped their target price for the stock from $225.00 to $260.00 in a research report on Wednesday, November 27th. Truist Financial upped their target price on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Wedbush reiterated a “neutral” rating and issued a $215.00 price target (down from $250.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, November 27th. TD Cowen increased their price target on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $260.00 price target on shares of DICK’S Sporting Goods in a research report on Tuesday, November 26th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $248.09.

DICK’S Sporting Goods Stock Performance

NYSE:DKS opened at $234.61 on Wednesday. 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 company has a market cap of $19.12 billion, a P/E ratio of 16.77, a P/E/G ratio of 2.57 and a beta of 1.57. DICK’S Sporting Goods, Inc. has a fifty-two week low of $165.31 and a fifty-two week high of $254.60. The firm’s 50 day moving average is $232.51 and its two-hundred day moving average is $218.64.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.07. The company 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%. DICK’S Sporting Goods’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $2.85 earnings per share. Analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Dividend Announcement

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 dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Friday, December 13th. DICK’S Sporting Goods’s dividend payout ratio is currently 31.45%.

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.