Nordea Investment Management AB Cuts Stock Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Nordea Investment Management AB reduced its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 4.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 281,728 shares of the sporting goods retailer’s stock after selling 13,332 shares during the quarter. Nordea Investment Management AB owned approximately 0.35% of DICK’S Sporting Goods worth $64,862,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Brooklyn Investment Group purchased a new position in DICK’S Sporting Goods during the third quarter worth about $27,000. ICA Group Wealth Management LLC purchased a new position in shares of DICK’S Sporting Goods in the 2nd quarter worth about $28,000. ORG Wealth Partners LLC purchased a new position in DICK’S Sporting Goods in the third quarter valued at about $30,000. True Wealth Design LLC grew its position in shares of DICK’S Sporting Goods by 2,900.0% during the 3rd quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock valued at $31,000 after acquiring an additional 145 shares during the period. Finally, Richardson Financial Services Inc. purchased a new position in DICK’S Sporting Goods in the second quarter valued at approximately $34,000. 89.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Truist Financial lifted their price objective on DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Loop Capital boosted their target price on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $260.00 price target on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $225.00 to $260.00 in a report on Wednesday, November 27th. Finally, Wedbush reaffirmed a “neutral” rating and set a $215.00 target price (down previously from $250.00) on shares of DICK’S Sporting Goods in a report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $244.95.

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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Price Performance

DKS opened at $227.90 on Wednesday. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $18.57 billion, a P/E ratio of 16.29, a PEG ratio of 2.52 and a beta of 1.58. The stock has a 50-day moving average price of $212.86 and a 200-day moving average price of $212.89. DICK’S Sporting Goods, Inc. has a 12-month low of $137.44 and a 12-month high of $239.30.

DICK’S Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.07. The business had revenue of $3.06 billion during 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%. DICK’S Sporting Goods’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.85 earnings per share. Equities analysts predict that DICK’S Sporting Goods, Inc. will post 13.88 earnings per share for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a $1.10 dividend. The ex-dividend date was Friday, December 13th. This represents a $4.40 annualized dividend and a dividend yield of 1.93%. DICK’S Sporting Goods’s dividend payout ratio is currently 31.45%.

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.