Flagship Harbor Advisors LLC Makes New Investment in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Flagship Harbor Advisors LLC purchased a new stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,016 shares of the sporting goods retailer’s stock, valued at approximately $232,000.

Several other institutional investors have also made changes to their positions in DKS. Brooklyn Investment Group acquired a new position in DICK’S Sporting Goods in the 3rd quarter valued at $27,000. ORG Wealth Partners LLC bought a new position in shares of DICK’S Sporting Goods in the third quarter worth $30,000. True Wealth Design LLC raised its stake 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 valued at $31,000 after purchasing an additional 145 shares in the last quarter. Sound Income Strategies LLC lifted its position in DICK’S Sporting Goods by 590.0% during the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock worth $32,000 after purchasing an additional 118 shares during the period. Finally, UMB Bank n.a. grew its stake in DICK’S Sporting Goods by 454.8% during the third quarter. UMB Bank n.a. now owns 172 shares of the sporting goods retailer’s stock worth $36,000 after buying an additional 141 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

DICK’S Sporting Goods Stock Down 1.5 %

Shares of DKS opened at $245.52 on Thursday. The stock’s 50-day moving average price is $224.68 and its two-hundred day moving average price is $215.65. DICK’S Sporting Goods, Inc. has a 12 month low of $148.95 and a 12 month high of $254.60. The company has a market capitalization of $20.00 billion, a PE ratio of 17.55, a PEG ratio of 2.69 and a beta of 1.58. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings data on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.07. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.03 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% on a year-over-year basis. During the same period in the previous year, the firm earned $2.85 earnings per share. On average, analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.88 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Friday, December 13th. DICK’S Sporting Goods’s dividend payout ratio is presently 31.45%.

Insider Activity at DICK’S Sporting Goods

In other news, 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 value of $1,697,956.15. Following the completion of the transaction, the director now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Edward W. Stack sold 160,600 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the sale, the chairman now owns 8,362,128 shares in the company, valued at approximately $1,917,017,844. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 172,933 shares of company stock worth $39,655,456 over the last quarter. Company insiders own 32.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DKS. Truist Financial boosted their target price on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Argus upped their target price on DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday. Loop Capital lifted their price target on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Wedbush restated a “neutral” rating and set a $215.00 price objective (down from $250.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, November 27th. Finally, UBS Group upgraded DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and lifted their target price for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, DICK’S Sporting Goods currently has an average rating of “Moderate Buy” and an average price target of $248.09.

About DICK’S Sporting Goods

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.