Gallacher Capital Management LLC Decreases Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Gallacher Capital Management LLC decreased its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 4.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,534 shares of the sporting goods retailer’s stock after selling 126 shares during the period. Gallacher Capital Management LLC’s holdings in DICK’S Sporting Goods were worth $580,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Greenleaf Trust lifted its holdings in DICK’S Sporting Goods by 3.0% during the fourth quarter. Greenleaf Trust now owns 1,721 shares of the sporting goods retailer’s stock valued at $394,000 after purchasing an additional 50 shares in the last quarter. Independent Advisor Alliance lifted its position in DICK’S Sporting Goods by 5.4% during the fourth quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer’s stock worth $235,000 after buying an additional 53 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of DICK’S Sporting Goods by 1.7% during the 3rd quarter. CIBC Asset Management Inc now owns 3,232 shares of the sporting goods retailer’s stock worth $675,000 after acquiring an additional 54 shares during the period. Atria Wealth Solutions Inc. lifted its holdings in DICK’S Sporting Goods by 2.2% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer’s stock valued at $577,000 after acquiring an additional 54 shares during the last quarter. Finally, Stonegate Investment Group LLC grew its holdings in shares of DICK’S Sporting Goods by 2.9% during the 4th quarter. Stonegate Investment Group LLC now owns 2,066 shares of the sporting goods retailer’s stock worth $473,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Insiders Place Their Bets

In related news, 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 value 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. This trade represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK’S Sporting Goods stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 16,504 shares in the company, 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. In the last ninety days, insiders have sold 172,933 shares of company stock valued at $39,655,456. Insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Price Performance

Shares of NYSE:DKS opened at $194.74 on Friday. The business’s 50 day simple moving average is $228.59 and its 200-day simple moving average is $218.14. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The firm has a market capitalization of $15.87 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods, Inc. has a 12 month low of $182.84 and a 12 month high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings results 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 analyst estimates of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business earned $3.85 earnings per share. As a group, equities analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods declared that its board has approved a share repurchase program on Tuesday, March 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $1.2125 per share. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 28th. This represents a $4.85 annualized dividend and a dividend yield of 2.49%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 31.45%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DKS. Robert W. Baird cut their target price on DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday. Guggenheim reiterated a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday. Truist Financial set a $245.00 price target on shares of DICK’S Sporting Goods in a research note on Tuesday. Loop Capital decreased their target price on DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Morgan Stanley increased their price target 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. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $245.50.

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.