Burney Co. Decreases Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Burney Co. lessened its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 33.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 64,987 shares of the sporting goods retailer’s stock after selling 32,857 shares during the quarter. Burney Co.’s holdings in DICK’S Sporting Goods were worth $14,872,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in shares of DICK’S Sporting Goods during the third quarter valued at about $27,000. ICA Group Wealth Management LLC purchased a new position in shares of DICK’S Sporting Goods during the second quarter valued at approximately $28,000. ORG Wealth Partners LLC bought a new position in shares of DICK’S Sporting Goods during the third quarter valued at approximately $30,000. True Wealth Design LLC increased its position in 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 purchasing an additional 145 shares during the period. Finally, Richardson Financial Services Inc. bought a new position in DICK’S Sporting Goods in the 2nd quarter worth $34,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on DKS shares. Wedbush restated a “neutral” rating and issued a $215.00 price objective (down from $250.00) on shares of DICK’S Sporting Goods in a report on Wednesday, November 27th. UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and upped their price target for the stock from $225.00 to $260.00 in a research note on Wednesday, November 27th. TD Cowen increased their price target on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Telsey Advisory Group reissued an “outperform” rating and set a $260.00 price objective on shares of DICK’S Sporting Goods in a research note on Tuesday, November 26th. Finally, Truist Financial lifted 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 report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, DICK’S Sporting Goods has an average rating of “Moderate Buy” and an average target price of $246.10.

DICK’S Sporting Goods Stock Performance

Shares of NYSE:DKS opened at $225.16 on Wednesday. The firm has a fifty day simple moving average of $215.54 and a two-hundred day simple moving average of $213.03. 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 has a market capitalization of $18.34 billion, a P/E ratio of 16.09, a PEG ratio of 2.54 and a beta of 1.58. DICK’S Sporting Goods, Inc. has a 52 week low of $139.48 and a 52 week high of $239.30.

DICK’S Sporting Goods (NYSE:DKS) last announced its 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 firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter in the previous year, the business earned $2.85 EPS. The company’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts expect that DICK’S Sporting Goods, Inc. will post 13.88 earnings per share for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The company also recently announced 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 1.95%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 31.45%.

Insider Buying and Selling

In other news, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction 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 transaction, the director now directly owns 50,997 shares in the company, valued at approximately $11,808,355.35. This trade represents a 12.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the company’s stock in a transaction on Monday, January 6th. The stock was 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 of the company’s stock, valued at $1,917,017,844. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 32.03% of the stock is owned by corporate insiders.

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.