Byrne Asset Management LLC Decreases Stock Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Byrne Asset Management LLC decreased its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 19.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 867 shares of the sporting goods retailer’s stock after selling 210 shares during the quarter. Byrne Asset Management LLC’s holdings in DICK’S Sporting Goods were worth $198,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Holocene Advisors LP purchased a new stake in DICK’S Sporting Goods during the 3rd quarter worth about $70,562,000. KBC Group NV raised its position in shares of DICK’S Sporting Goods by 887.3% during the 3rd quarter. KBC Group NV now owns 250,374 shares of the sporting goods retailer’s stock worth $52,253,000 after acquiring an additional 225,015 shares in the last quarter. International Assets Investment Management LLC lifted its stake in DICK’S Sporting Goods by 19,851.3% during the third quarter. International Assets Investment Management LLC now owns 208,491 shares of the sporting goods retailer’s stock worth $43,512,000 after purchasing an additional 207,446 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in DICK’S Sporting Goods by 1,718.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 200,000 shares of the sporting goods retailer’s stock worth $41,740,000 after purchasing an additional 189,000 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in DICK’S Sporting Goods in the third quarter valued at approximately $32,093,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DKS shares. Wedbush reissued a “neutral” rating and set a $215.00 price objective (down previously from $250.00) on shares of DICK’S Sporting Goods in a report on Wednesday, November 27th. TD Cowen boosted their price target on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Truist Financial raised their price objective on DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Argus boosted their target price on DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Loop Capital raised their price target on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $248.09.

DICK’S Sporting Goods Stock Performance

Shares of DKS opened at $233.99 on Friday. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. DICK’S Sporting Goods, Inc. has a 52-week low of $156.65 and a 52-week high of $254.60. The company has a 50-day simple moving average of $228.82 and a 200-day simple moving average of $216.86. The company has a market capitalization of $19.06 billion, a PE ratio of 16.73, a P/E/G ratio of 2.73 and a beta of 1.57.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.07. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.03 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.85 EPS. Equities research analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Friday, December 13th. DICK’S Sporting Goods’s payout ratio is currently 31.45%.

Insider Activity

In related news, Chairman Edward W. Stack sold 160,600 shares of DICK’S Sporting Goods stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods 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 sale, the director now owns 50,997 shares of the company’s stock, 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 172,933 shares of company stock worth $39,655,456 over the last ninety days. 32.03% of the stock is currently owned by insiders.

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.