DICK’S Sporting Goods, Inc. (NYSE:DKS) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 652,838 shares of the sporting goods retailer’s stock after purchasing an additional 31,919 shares during the quarter. JPMorgan Chase & Co. owned 0.80% of DICK’S Sporting Goods worth $149,396,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Townsquare Capital LLC raised its stake in shares of DICK’S Sporting Goods by 9.2% in the 3rd quarter. Townsquare Capital LLC now owns 1,298 shares of the sporting goods retailer’s stock valued at $271,000 after acquiring an additional 109 shares during the period. Captrust Financial Advisors increased its holdings in DICK’S Sporting Goods by 3.1% in the 3rd quarter. Captrust Financial Advisors now owns 7,968 shares of the sporting goods retailer’s stock valued at $1,663,000 after purchasing an additional 237 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in DICK’S Sporting Goods in the third quarter valued at approximately $895,000. Kestra Investment Management LLC acquired a new position in DICK’S Sporting Goods during the third quarter worth $422,000. Finally, Benjamin Edwards Inc. purchased a new position in shares of DICK’S Sporting Goods during the third quarter worth $501,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total value 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. This trade represents a 12.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’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 value of $1,139,950.00. Following the sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at $3,762,746.96. This trade represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DKS. 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. Stifel Nicolaus reduced their price target on shares of DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating on the stock in a research report on Wednesday, March 12th. Truist Financial set a $245.00 price objective on shares of DICK’S Sporting Goods in a report on Tuesday, March 11th. Robert W. Baird reduced their target price on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Finally, Loop Capital cut their price objective on DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating on the stock in a research report on Thursday, March 13th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $245.50.

DICK’S Sporting Goods Stock Performance

NYSE DKS opened at $206.50 on Wednesday. The company has a fifty day moving average of $222.12 and a two-hundred day moving average of $216.49. The company has a market capitalization of $16.82 billion, a PE ratio of 14.76, a P/E/G ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods, Inc. has a 1 year low of $182.84 and a 1 year high of $254.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.15. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the business posted $3.85 EPS. The firm’s quarterly revenue was up .5% compared to the same quarter last year. As a group, analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

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

DICK’S Sporting Goods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $1.2125 per share. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a yield of 2.35%. The ex-dividend date is Friday, March 28th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 34.54%.

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.