Wealthfront Advisers LLC Purchases Shares of 8,273,071 DICK’S Sporting Goods, Inc. (NYSE:DKS)

Wealthfront Advisers LLC purchased a new stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,273,071 shares of the sporting goods retailer’s stock, valued at approximately $1,893,210,000. DICK’S Sporting Goods accounts for approximately 1.6% of Wealthfront Advisers LLC’s holdings, making the stock its 17th largest holding. Wealthfront Advisers LLC owned approximately 10.15% of DICK’S Sporting Goods as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brooklyn Investment Group purchased a new stake in shares of DICK’S Sporting Goods during the 3rd quarter worth $27,000. New Wave Wealth Advisors LLC purchased a new stake in shares of DICK’S Sporting Goods during the 4th quarter worth $28,000. Rialto Wealth Management LLC purchased a new stake in shares of DICK’S Sporting Goods during the 4th quarter worth $30,000. True Wealth Design LLC lifted its position in shares of 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 purchasing an additional 145 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of DICK’S Sporting Goods by 590.0% during the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock worth $32,000 after purchasing an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Insider Transactions at DICK’S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of the business’s stock in a transaction dated 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 $3,762,746.96. The trade was a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lawrence J. Schorr sold 7,333 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the transaction, the director now owns 50,997 shares in the company, valued at approximately $11,808,355.35. This trade represents a 12.57 % 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 worth $39,655,456 over the last ninety days. 32.03% of the stock is currently owned by company insiders.

DICK’S Sporting Goods Trading Down 1.4 %

Shares of DICK’S Sporting Goods stock opened at $211.36 on Tuesday. DICK’S Sporting Goods, Inc. has a 52-week low of $178.21 and a 52-week high of $254.60. 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’s 50-day simple moving average is $231.36 and its 200-day simple moving average is $219.22. The firm has a market cap of $17.22 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53.

Wall Street Analysts Forecast Growth

DKS has been the subject of several recent analyst reports. Argus lifted their price objective on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. 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 report on Wednesday, November 27th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $260.00 price objective on shares of DICK’S Sporting Goods in a research report on Friday. Morgan Stanley lifted 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. Finally, Wedbush reiterated a “neutral” rating and set a $215.00 price target on shares of DICK’S Sporting Goods in a research note on Thursday, March 6th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.09.

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.