Proficio Capital Partners LLC Acquires New Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Proficio Capital Partners LLC acquired a new stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 54,245 shares of the sporting goods retailer’s stock, valued at approximately $12,413,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group bought a new stake in shares of DICK’S Sporting Goods during the third quarter valued at about $27,000. New Wave Wealth Advisors LLC bought a new stake in DICK’S Sporting Goods in the fourth quarter worth about $28,000. True Wealth Design LLC raised its position in DICK’S Sporting Goods by 2,900.0% in the third quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock worth $31,000 after acquiring an additional 145 shares in the last quarter. Sound Income Strategies LLC raised its position in DICK’S Sporting Goods by 590.0% in the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock worth $32,000 after acquiring an additional 118 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in DICK’S Sporting Goods in the fourth quarter worth about $55,000. 89.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 50,997 shares of the company’s stock, valued at $11,808,355.35. This represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $227.99, for a total value of $1,139,950.00. Following the sale, the executive vice president now directly owns 16,504 shares of the company’s stock, valued at $3,762,746.96. The trade was a 23.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 172,933 shares of company stock valued at $39,655,456 over the last 90 days. 32.03% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on DKS. Stifel Nicolaus dropped their price target on shares of DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating on the stock in a research report on Wednesday. Citigroup reiterated a “neutral” rating and issued a $220.00 price target (down from $230.00) on shares of DICK’S Sporting Goods in a research report on Wednesday. Truist Financial set a $245.00 price target on shares of DICK’S Sporting Goods in a research report on Tuesday. Guggenheim restated a “neutral” rating on shares of DICK’S Sporting Goods in a report on Wednesday. Finally, UBS Group upgraded DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $225.00 to $260.00 in a report on Wednesday, November 27th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DICK’S Sporting Goods presently has an average rating of “Moderate Buy” and a consensus target price of $245.50.

DICK’S Sporting Goods Trading Up 4.4 %

NYSE:DKS opened at $194.74 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. DICK’S Sporting Goods, Inc. has a fifty-two week low of $182.84 and a fifty-two week high of $254.60. The stock’s 50-day moving average is $228.59 and its two-hundred day moving average is $218.14. The stock has a market cap of $15.87 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, beating the consensus estimate of $3.47 by $0.15. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.85 EPS. As a group, equities research analysts forecast 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 of Directors has approved a share repurchase program on Tuesday, March 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $1.2125 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a yield of 2.49%. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio is presently 31.45%.

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.