Bank of New York Mellon Corp Sells 32,507 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Bank of New York Mellon Corp lessened its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 667,974 shares of the sporting goods retailer’s stock after selling 32,507 shares during the quarter. Bank of New York Mellon Corp’s holdings in DICK’S Sporting Goods were worth $152,859,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. IFP Advisors Inc boosted its stake in shares of DICK’S Sporting Goods by 9.4% in the 4th 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 during the last quarter. Birchcreek Wealth Management LLC bought a new position in DICK’S Sporting Goods during the 4th quarter worth approximately $227,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in DICK’S Sporting Goods by 4.7% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 20,000 shares of the sporting goods retailer’s stock worth $4,577,000 after acquiring an additional 900 shares during the last quarter. Wealthspire Advisors LLC boosted its stake in DICK’S Sporting Goods by 10.0% during the 4th quarter. Wealthspire Advisors LLC now owns 2,209 shares of the sporting goods retailer’s stock worth $506,000 after acquiring an additional 201 shares during the last quarter. Finally, Navellier & Associates Inc. boosted its stake in DICK’S Sporting Goods by 26.2% during the 4th quarter. Navellier & Associates Inc. now owns 5,242 shares of the sporting goods retailer’s stock worth $1,200,000 after acquiring an additional 1,089 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

DKS has been the topic of several recent analyst reports. Wedbush reissued a “neutral” rating and set a $215.00 price objective (down previously from $250.00) on shares of DICK’S Sporting Goods in a research note on Wednesday, November 27th. Morgan Stanley lifted their price objective on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Truist Financial lifted their price objective on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Loop Capital lifted their price objective on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Finally, 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 note on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $248.09.

Insider Activity

In related news, Director Lawrence J. Schorr sold 7,333 shares of the business’s 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 transaction, the director now directly owns 50,997 shares in the company, valued at approximately $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the business’s 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 transaction, the chairman now owns 8,362,128 shares in the company, valued at approximately $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 have sold 172,933 shares of company stock worth $39,655,456 over the last ninety days. Insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Price Performance

NYSE DKS opened at $224.81 on Friday. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. DICK’S Sporting Goods, Inc. has a 12-month low of $176.23 and a 12-month high of $254.60. The company has a market capitalization of $18.32 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 2.47 and a beta of 1.57. The firm’s 50 day moving average is $233.22 and its 200-day moving average is $219.76.

DICK’S Sporting Goods (NYSE:DKS) 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 analysts’ consensus estimates of $2.68 by $0.07. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same period last year, the company earned $2.85 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. Equities research analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

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.