Groesbeck Investment Management Corp NJ Purchases 1,930 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Groesbeck Investment Management Corp NJ raised its position in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 79.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,358 shares of the sporting goods retailer’s stock after buying an additional 1,930 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in DICK’S Sporting Goods were worth $640,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in DKS. Victory Capital Management Inc. raised its stake in shares of DICK’S Sporting Goods by 9,735.6% in the third quarter. Victory Capital Management Inc. now owns 2,239,273 shares of the sporting goods retailer’s stock valued at $243,140,000 after buying an additional 2,216,506 shares during the period. BlackRock Inc. grew its position in shares of DICK’S Sporting Goods by 12.1% in the first quarter. BlackRock Inc. now owns 5,983,808 shares of the sporting goods retailer’s stock valued at $849,043,000 after purchasing an additional 644,609 shares in the last quarter. AQR Capital Management LLC grew its position in shares of DICK’S Sporting Goods by 145.0% in the third quarter. AQR Capital Management LLC now owns 789,482 shares of the sporting goods retailer’s stock valued at $85,722,000 after purchasing an additional 467,243 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of DICK’S Sporting Goods by 1,168.3% in the first quarter. Envestnet Asset Management Inc. now owns 465,279 shares of the sporting goods retailer’s stock valued at $7,918,000 after purchasing an additional 428,593 shares in the last quarter. Finally, Barclays PLC grew its position in shares of DICK’S Sporting Goods by 148.3% in the third quarter. Barclays PLC now owns 592,991 shares of the sporting goods retailer’s stock valued at $64,388,000 after purchasing an additional 354,217 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on DKS shares. Williams Trading upgraded DICK’S Sporting Goods from a “hold” rating to a “buy” rating and lifted their price target for the company from $154.00 to $235.00 in a research report on Thursday, March 14th. Gordon Haskett lifted their price target on DICK’S Sporting Goods from $190.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Loop Capital lifted their price target on DICK’S Sporting Goods from $150.00 to $220.00 and gave the company a “hold” rating in a research report on Monday, March 18th. The Goldman Sachs Group boosted their target price on DICK’S Sporting Goods from $157.00 to $247.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Telsey Advisory Group boosted their target price on DICK’S Sporting Goods from $160.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, March 11th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $208.64.

Insider Activity at DICK’S Sporting Goods

In related news, SVP Elizabeth H. Baran sold 2,175 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $221.78, for a total transaction of $482,371.50. Following the completion of the transaction, the senior vice president now owns 11,051 shares of the company’s stock, valued at approximately $2,450,890.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other DICK’S Sporting Goods news, SVP Elizabeth H. Baran sold 2,175 shares of DICK’S Sporting Goods stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $221.78, for a total value of $482,371.50. Following the completion of the sale, the senior vice president now owns 11,051 shares of the company’s stock, valued at approximately $2,450,890.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder William Colombo Trustee U/A Dt bought 40,000 shares of DICK’S Sporting Goods stock in a transaction on Friday, March 15th. The stock was acquired at an average cost of $213.93 per share, with a total value of $8,557,200.00. Following the acquisition, the insider now owns 8,818,615 shares in the company, valued at approximately $1,886,566,306.95. The disclosure for this purchase can be found here. Insiders sold a total of 209,763 shares of company stock valued at $46,483,438 in the last 90 days. Corporate insiders own 30.79% of the company’s stock.

DICK’S Sporting Goods Trading Up 0.5 %

Shares of NYSE DKS traded up $1.04 during midday trading on Thursday, reaching $197.97. The company had a trading volume of 241,959 shares, compared to its average volume of 1,198,014. DICK’S Sporting Goods, Inc. has a one year low of $100.98 and a one year high of $225.79. The company has a quick ratio of 0.74, a current ratio of 1.78 and a debt-to-equity ratio of 0.57. The firm’s fifty day moving average price is $193.48 and its 200-day moving average price is $151.86. The stock has a market cap of $16.32 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 2.41 and a beta of 1.58.

DICK’S Sporting Goods (NYSE:DKS) last released its earnings results on Thursday, March 14th. The sporting goods retailer reported $3.85 earnings per share for the quarter, beating analysts’ consensus estimates of $3.35 by $0.50. DICK’S Sporting Goods had a return on equity of 42.99% and a net margin of 8.06%. The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the company posted $2.93 EPS. DICK’S Sporting Goods’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.26 earnings per share for the current year.

DICK’S Sporting Goods Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.00. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 36.12%.

DICK’S Sporting Goods Company Profile

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.