King Wealth Management Group Has $1.01 Million Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

King Wealth Management Group lessened its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 1.4% during the fourth quarter, Holdings Channel reports. The fund owned 4,418 shares of the sporting goods retailer’s stock after selling 63 shares during the quarter. King Wealth Management Group’s holdings in DICK’S Sporting Goods were worth $1,011,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brooklyn Investment Group bought a new stake in DICK’S Sporting Goods in the third quarter valued at $27,000. New Wave Wealth Advisors LLC acquired a new stake in shares of DICK’S Sporting Goods in the 4th quarter valued at about $28,000. Rialto Wealth Management LLC bought a new stake in DICK’S Sporting Goods in the 4th quarter valued at about $30,000. True Wealth Design LLC raised its stake in DICK’S Sporting Goods by 2,900.0% during 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 period. Finally, Sound Income Strategies LLC boosted its holdings in DICK’S Sporting Goods by 590.0% in the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock worth $32,000 after acquiring an additional 118 shares in the last quarter. 89.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley boosted their price objective on DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Guggenheim restated a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday. Truist Financial set a $245.00 price objective on shares of DICK’S Sporting Goods in a research note on Tuesday. Citigroup reissued a “neutral” rating and set a $220.00 target price (down from $230.00) on shares of DICK’S Sporting Goods in a research report on Wednesday. Finally, Robert W. Baird dropped their price target on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $245.55.

DICK’S Sporting Goods Stock Down 4.3 %

DKS opened at $186.69 on Friday. DICK’S Sporting Goods, Inc. has a twelve month low of $182.84 and a twelve month high of $254.60. The company’s 50-day moving average price is $230.08 and its two-hundred day moving average price is $218.77. The stock has a market cap of $15.21 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 2.47 and a beta of 1.53. 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 (NYSE:DKS) last posted its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, beating the consensus estimate of $3.47 by $0.15. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. DICK’S Sporting Goods’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.85 earnings per share. As a group, equities analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

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 paid a $1.2125 dividend. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Friday, March 28th. DICK’S Sporting Goods’s payout ratio is currently 31.45%.

DICK’S Sporting Goods announced that its board has initiated a share repurchase plan on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at DICK’S Sporting Goods

In other news, Chairman Edward W. Stack sold 160,600 shares of the business’s stock in a transaction that occurred 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 sale, the chairman now 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was 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 of the company’s stock, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 172,933 shares of company stock valued at $39,655,456 over the last three months. 32.03% of the stock is currently owned by insiders.

DICK’S Sporting Goods Company 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.