Groesbeck Investment Management Corp NJ Has $640,000 Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Groesbeck Investment Management Corp NJ raised its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 79.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,358 shares of the sporting goods retailer’s stock after buying an additional 1,930 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in DICK’S Sporting Goods were worth $640,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DKS. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of DICK’S Sporting Goods by 7.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,056 shares of the sporting goods retailer’s stock worth $2,306,000 after buying an additional 1,541 shares during the period. Great West Life Assurance Co. Can grew its position in shares of DICK’S Sporting Goods by 14.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 40,257 shares of the sporting goods retailer’s stock worth $4,161,000 after buying an additional 5,111 shares during the period. Yousif Capital Management LLC grew its position in shares of DICK’S Sporting Goods by 0.6% during the 1st quarter. Yousif Capital Management LLC now owns 36,694 shares of the sporting goods retailer’s stock worth $3,670,000 after buying an additional 217 shares during the period. Sei Investments Co. grew its position in shares of DICK’S Sporting Goods by 20.3% during the 1st quarter. Sei Investments Co. now owns 30,737 shares of the sporting goods retailer’s stock worth $3,160,000 after buying an additional 5,182 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in shares of DICK’S Sporting Goods by 34.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,047 shares of the sporting goods retailer’s stock worth $204,000 after buying an additional 524 shares during the period. 89.83% of the stock is currently owned by institutional investors and hedge funds.

DICK’S Sporting Goods Stock Up 0.5 %

Shares of DICK’S Sporting Goods stock traded up $1.04 on Thursday, reaching $197.97. 241,959 shares of the company were exchanged, compared to its average volume of 1,198,014. DICK’S Sporting Goods, Inc. has a one year low of $100.98 and a one year high of $225.79. The company has a market capitalization of $16.32 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 2.41 and a beta of 1.58. The company has a current ratio of 1.78, a quick ratio of 0.74 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $193.48 and a 200 day moving average of $151.86.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings data on Thursday, March 14th. The sporting goods retailer reported $3.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.35 by $0.50. DICK’S Sporting Goods had a return on equity of 42.99% and a net margin of 8.06%. The company had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the prior year, the business posted $2.93 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.26 earnings per share for the current year.

DICK’S Sporting Goods Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a dividend of $1.10 per share. The ex-dividend date was Wednesday, March 27th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.22%. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.00. DICK’S Sporting Goods’s dividend payout ratio is currently 36.12%.

Analysts Set New Price Targets

DKS has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on DICK’S Sporting Goods from $160.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Stifel Nicolaus lifted their price objective on DICK’S Sporting Goods from $126.00 to $215.00 and gave the company a “hold” rating in a report on Friday, March 15th. Jefferies Financial Group initiated coverage on DICK’S Sporting Goods in a report on Friday, April 12th. They set a “hold” rating and a $211.00 price objective on the stock. Evercore ISI lifted their price objective on DICK’S Sporting Goods from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Finally, TD Cowen lifted their price objective on DICK’S Sporting Goods from $177.00 to $226.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $208.64.

Insider Transactions at DICK’S Sporting Goods

In related news, SVP Elizabeth H. Baran sold 2,175 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $221.78, for a total transaction of $482,371.50. Following the transaction, the senior vice president now directly owns 11,051 shares of the company’s stock, valued at approximately $2,450,890.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other DICK’S Sporting Goods news, major shareholder William Colombo Trustee U/A Dt bought 40,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average cost of $213.93 per share, with a total value of $8,557,200.00. Following the acquisition, the insider now owns 8,818,615 shares of the company’s stock, valued at $1,886,566,306.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Elizabeth H. Baran sold 2,175 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $221.78, for a total value of $482,371.50. Following the transaction, the senior vice president now directly owns 11,051 shares in the company, valued at $2,450,890.78. The disclosure for this sale can be found here. Insiders have sold a total of 209,763 shares of company stock worth $46,483,438 in the last 90 days. Corporate insiders own 30.79% of the company’s stock.

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.