Cynosure Group LLC Has $671,000 Stock Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Cynosure Group LLC cut its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 17.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,930 shares of the sporting goods retailer’s stock after selling 627 shares during the quarter. Cynosure Group LLC’s holdings in DICK’S Sporting Goods were worth $671,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wealthfront Advisers LLC acquired a new stake in shares of DICK’S Sporting Goods in the 4th quarter valued at about $1,893,210,000. Norges Bank bought a new position in DICK’S Sporting Goods in the fourth quarter worth approximately $221,693,000. Wellington Management Group LLP acquired a new stake in DICK’S Sporting Goods in the fourth quarter valued at approximately $125,285,000. Holocene Advisors LP acquired a new position in shares of DICK’S Sporting Goods during the third quarter worth approximately $70,562,000. Finally, KBC Group NV lifted its holdings in shares of DICK’S Sporting Goods by 86.8% in the 4th quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer’s stock worth $107,043,000 after purchasing an additional 217,390 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $227.99, for a total value of $1,139,950.00. Following the completion of the transaction, the executive vice president now directly owns 16,504 shares in the company, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of the company’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 sale, the chairman now directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 172,933 shares of company stock valued at $39,655,456. Corporate insiders own 32.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on DKS shares. Telsey Advisory Group restated an “outperform” rating and set a $250.00 price target on shares of DICK’S Sporting Goods in a research note on Friday, March 14th. TD Cowen raised their price target on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Truist Financial set a $245.00 price target on DICK’S Sporting Goods in a research note on Tuesday, March 11th. Citigroup reissued a “neutral” rating and issued a $220.00 price objective (down from $230.00) on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Finally, Wedbush restated a “neutral” rating and set a $215.00 price objective on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $245.50.

DICK’S Sporting Goods Trading Up 2.5 %

Shares of DKS opened at $206.50 on Wednesday. DICK’S Sporting Goods, Inc. has a fifty-two week low of $182.84 and a fifty-two week high of $254.60. The business has a 50-day moving average of $222.12 and a 200 day moving average of $216.49. The firm has a market cap of $16.82 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.15. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the company earned $3.85 earnings per share. The company’s revenue was up .5% on a year-over-year basis. As a group, research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods declared that its Board of Directors has authorized a share repurchase program on Tuesday, March 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.35%. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 28th. DICK’S Sporting Goods’s payout ratio is presently 34.54%.

DICK’S Sporting Goods Profile

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.