Skandinaviska Enskilda Banken AB publ Sells 5,680 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Skandinaviska Enskilda Banken AB publ decreased its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 31.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,592 shares of the sporting goods retailer’s stock after selling 5,680 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in DICK’S Sporting Goods were worth $2,918,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Marion Wealth Management bought a new stake in shares of DICK’S Sporting Goods in the fourth quarter worth $545,000. Strategy Asset Managers LLC acquired a new position in DICK’S Sporting Goods in the third quarter valued at $4,325,000. Argus Investors Counsel Inc. acquired a new position in DICK’S Sporting Goods in the fourth quarter valued at $257,000. Landscape Capital Management L.L.C. lifted its holdings in DICK’S Sporting Goods by 402.9% in the third quarter. Landscape Capital Management L.L.C. now owns 15,344 shares of the sporting goods retailer’s stock valued at $3,202,000 after buying an additional 12,293 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in DICK’S Sporting Goods by 78.2% in the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,495 shares of the sporting goods retailer’s stock valued at $2,631,000 after buying an additional 5,046 shares during the period. Institutional investors own 89.83% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the completion of the transaction, the chairman now directly owns 8,362,128 shares of the company’s stock, valued at $1,917,017,844. This represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $3,762,746.96. This represents a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,933 shares of company stock valued at $39,655,456. Corporate insiders own 32.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DKS shares. UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and boosted their target price for the company from $225.00 to $260.00 in a report on Wednesday, November 27th. Robert W. Baird dropped 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. Truist Financial set a $245.00 target price on shares of DICK’S Sporting Goods in a report on Tuesday, March 11th. DA Davidson dropped their price objective on shares of DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Finally, Argus upped their price objective on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $245.50.

DICK’S Sporting Goods Trading Up 4.4 %

DKS opened at $194.74 on Monday. DICK’S Sporting Goods, Inc. has a fifty-two week low of $182.84 and a fifty-two week 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. The company’s 50-day moving average is $228.59 and its 200 day moving average is $218.02. The firm has a market capitalization of $15.87 billion, a PE ratio of 13.92, a P/E/G ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings data 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 net margin of 8.65% and a return on equity of 42.00%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the prior year, the firm posted $3.85 EPS. The firm’s quarterly revenue was up .5% compared to the same quarter last year. As a group, 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 declared that its board has authorized a share buyback plan on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The company 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 $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a yield of 2.49%. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 28th. DICK’S Sporting Goods’s dividend payout ratio is presently 31.45%.

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.