DICK’S Sporting Goods, Inc. (NYSE:DKS) CEO Sells $12,109,352.32 in Stock

DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) CEO Lauren R. Hobart sold 83,392 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $145.21, for a total transaction of $12,109,352.32. Following the sale, the chief executive officer now directly owns 233,269 shares in the company, valued at approximately $33,872,991.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

DICK’S Sporting Goods Trading Up 0.7 %

NYSE:DKS opened at $146.69 on Friday. The company has a market capitalization of $11.62 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. The company has a quick ratio of 0.81, a current ratio of 1.88 and a debt-to-equity ratio of 0.61. DICK’S Sporting Goods, Inc. has a 52-week low of $63.45 and a 52-week high of $152.61. The stock has a fifty day simple moving average of $131.62 and a 200-day simple moving average of $119.10.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last released its quarterly earnings results on Tuesday, March 7th. The sporting goods retailer reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.07. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.45 billion. DICK’S Sporting Goods had a return on equity of 45.97% and a net margin of 8.43%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.64 EPS. On average, equities research analysts expect that DICK’S Sporting Goods, Inc. will post 13.51 earnings per share for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Thursday, March 16th. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $0.49. DICK’S Sporting Goods’s payout ratio is 18.11%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank raised its stake in DICK’S Sporting Goods by 52.4% in the 3rd 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 last quarter. Bridgewater Associates LP raised its stake in DICK’S Sporting Goods by 21.1% in the 2nd quarter. Bridgewater Associates LP now owns 10,104 shares of the sporting goods retailer’s stock valued at $762,000 after purchasing an additional 1,761 shares during the last quarter. Truist Financial Corp raised its stake in 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 last quarter. Fragasso Group Inc. acquired a new position in DICK’S Sporting Goods in the 2nd quarter valued at about $294,000. Finally, Eqis Capital Management Inc. raised its stake in 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 last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DKS shares. StockNews.com started coverage on shares of DICK’S Sporting Goods in a research report on Thursday. They set a “hold” rating on the stock. Wedbush raised their target price on shares of DICK’S Sporting Goods from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 8th. Morgan Stanley raised their target price on shares of DICK’S Sporting Goods from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 8th. JPMorgan Chase & Co. raised their target price on shares of DICK’S Sporting Goods from $125.00 to $148.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 8th. Finally, Oppenheimer lifted their price objective on shares of DICK’S Sporting Goods from $138.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, March 8th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $155.30.

DICK’S Sporting Goods Company 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.