Sumitomo Mitsui Trust Group Inc. Boosts Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Sumitomo Mitsui Trust Group Inc. increased its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 0.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 143,713 shares of the sporting goods retailer’s stock after acquiring an additional 657 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in DICK’S Sporting Goods were worth $32,887,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in DKS. New Wave Wealth Advisors LLC purchased a new position in shares of DICK’S Sporting Goods in the fourth quarter worth about $28,000. Brooklyn Investment Group purchased a new position in DICK’S Sporting Goods during the 3rd quarter valued at about $27,000. Sound Income Strategies LLC increased its stake in shares of 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 valued at $32,000 after buying an additional 118 shares during the period. ORG Wealth Partners LLC bought a new position in DICK’S Sporting Goods in the 3rd quarter worth $30,000. Finally, True Wealth Design LLC raised its position in shares of DICK’S Sporting Goods by 2,900.0% in the 3rd 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. Institutional investors own 89.83% of the company’s stock.

Insider Activity at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chairman now owns 8,362,128 shares in the company, valued at $1,917,017,844. This trade represents a 1.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction that occurred on 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 sale, the director now directly owns 50,997 shares in the company, valued at approximately $11,808,355.35. The trade was a 12.57 % decrease in their position. The disclosure for this sale can be found here. Over 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

DKS has been the subject of a number of recent research reports. UBS Group upgraded DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $225.00 to $260.00 in a research note on Wednesday, November 27th. Morgan Stanley increased their price objective on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Telsey Advisory Group reiterated an “outperform” rating and issued a $260.00 target price on shares of DICK’S Sporting Goods in a research note on Tuesday, November 26th. Loop Capital upped their price objective on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Finally, Truist Financial increased their target price on DICK’S Sporting Goods from $256.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $248.09.

DICK’S Sporting Goods Price Performance

Shares of DICK’S Sporting Goods stock opened at $244.13 on Wednesday. The company has a market capitalization of $19.89 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.57 and a beta of 1.57. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The stock’s 50-day simple moving average is $229.93 and its 200-day simple moving average is $217.54. DICK’S Sporting Goods, Inc. has a 52 week low of $160.31 and a 52 week high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings results 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. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the previous year, the firm earned $2.85 EPS. The firm’s revenue was up .5% compared to the same quarter last year. As a group, analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The business 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. The ex-dividend date was Friday, December 13th. This represents a $4.40 annualized dividend and a yield of 1.80%. DICK’S Sporting Goods’s payout ratio is 31.45%.

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.