DICK’S Sporting Goods, Inc. (NYSE:DKS) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) by 83.8% during the third quarter, Holdings Channel.com reports. The firm owned 8,895 shares of the sporting goods retailer’s stock after selling 46,033 shares during the quarter. Federated Hermes Inc.’s holdings in DICK’S Sporting Goods were worth $931,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Comerica Bank increased its holdings in shares of DICK’S Sporting Goods by 52.4% during the third quarter. Comerica Bank now owns 42,024 shares of the sporting goods retailer’s stock valued at $4,804,000 after purchasing an additional 14,456 shares during the period. Bridgewater Associates LP grew its holdings in DICK’S Sporting Goods by 21.1% during the second quarter. Bridgewater Associates LP now owns 10,104 shares of the sporting goods retailer’s stock worth $762,000 after acquiring an additional 1,761 shares during the period. Truist Financial Corp boosted its position in shares of DICK’S Sporting Goods by 46.6% in the 3rd quarter. Truist Financial Corp now owns 34,060 shares of the sporting goods retailer’s stock valued at $3,565,000 after purchasing an additional 10,834 shares during the period. Fragasso Group Inc. acquired a new position in shares of DICK’S Sporting Goods in the 2nd quarter valued at $294,000. Finally, Eqis Capital Management Inc. boosted its position in shares of DICK’S Sporting Goods by 5.3% in the 3rd quarter. Eqis Capital Management Inc. now owns 18,423 shares of the sporting goods retailer’s stock valued at $1,928,000 after purchasing an additional 926 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DKS shares. Gordon Haskett increased their price target on DICK’S Sporting Goods from $135.00 to $170.00 in a research report on Tuesday, March 7th. Robert W. Baird increased their price target on DICK’S Sporting Goods from $120.00 to $150.00 in a research report on Tuesday, March 7th. Bank of America raised their price objective on DICK’S Sporting Goods from $145.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, March 8th. Loop Capital raised their price objective on DICK’S Sporting Goods from $130.00 to $150.00 and gave the stock a “hold” rating in a research report on Thursday, March 9th. Finally, UBS Group raised their price objective on DICK’S Sporting Goods from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, January 6th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, DICK’S Sporting Goods currently has an average rating of “Moderate Buy” and an average target price of $155.32.

Insider Activity at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, EVP Vladimir Rak sold 29,144 shares of the business’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $112.43, for a total value of $3,276,659.92. Following the transaction, the executive vice president now owns 48,260 shares of the company’s stock, valued at $5,425,871.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 32.83% of the stock is owned by insiders.

DICK’S Sporting Goods Price Performance

Shares of NYSE:DKS opened at $145.09 on Tuesday. DICK’S Sporting Goods, Inc. has a 1-year low of $63.45 and a 1-year high of $152.61. The firm has a market capitalization of $11.49 billion, a PE ratio of 13.47, a PEG ratio of 2.01 and a beta of 1.41. The business’s 50 day moving average is $130.10 and its 200-day moving average is $118.37. The company has a current ratio of 1.88, a quick ratio of 0.81 and a debt-to-equity ratio of 0.61.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last announced its quarterly earnings data on Tuesday, March 7th. The sporting goods retailer reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.07. DICK’S Sporting Goods had a return on equity of 45.97% and a net margin of 8.43%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same quarter last year, the firm earned $3.64 EPS. DICK’S Sporting Goods’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts predict that DICK’S Sporting Goods, Inc. will post 13.38 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, March 31st. Stockholders of record on Friday, March 17th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Thursday, March 16th. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $0.49. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 18.11%.

DICK’S Sporting Goods Profile

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Dick’s Sporting Goods, Inc engages in the retail of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories through a blend of associates, in-store services, and unique specialty shop-in-shops. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.