Central Bank & Trust Co. Sells 1,254 Shares of DICK'S Sporting Goods, Inc. $DKS

Key Points

• Central Bank & Trust Co. has reduced its stake in DICK'S Sporting Goods by 4.5%, now owning 26,861 shares valued at approximately $5.3 million.
• Analysts have set various price targets for DICK'S Sporting Goods, with the consensus rating being a Moderate Buy and an average target price of $235.83.
• The company is set to distribute a quarterly dividend of $1.2125 per share on September 26, 2023, with a current annualized dividend yield of 2.1%.

Central Bank & Trust Co. cut its position in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,861 shares of the sporting goods retailer's stock after selling 1,254 shares during the quarter. Central Bank & Trust Co.'s holdings in DICK'S Sporting Goods were worth $5,313,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of DICK'S Sporting Goods by 416.9% in the first quarter. Wellington Management Group LLP now owns 2,829,780 shares of the sporting goods retailer's stock valued at $570,370,000 after buying an additional 2,282,300 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of DICK'S Sporting Goods by 1,899.2% in the first quarter. Westfield Capital Management Co. LP now owns 630,566 shares of the sporting goods retailer's stock valued at $127,097,000 after buying an additional 599,025 shares during the period. Vanguard Group Inc. increased its stake in shares of DICK'S Sporting Goods by 8.8% in the first quarter. Vanguard Group Inc. now owns 5,850,223 shares of the sporting goods retailer's stock valued at $1,179,171,000 after buying an additional 471,217 shares during the period. GAMMA Investing LLC increased its stake in shares of DICK'S Sporting Goods by 24,140.8% in the first quarter. GAMMA Investing LLC now owns 291,859 shares of the sporting goods retailer's stock valued at $58,827,000 after buying an additional 290,655 shares during the period. Finally, Champlain Investment Partners LLC acquired a new stake in shares of DICK'S Sporting Goods in the first quarter valued at about $45,734,000. 89.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DKS has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on DICK'S Sporting Goods from $195.00 to $235.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Citigroup raised DICK'S Sporting Goods from a "neutral" rating to a "buy" rating and increased their price target for the company from $225.00 to $280.00 in a research note on Tuesday, September 9th. Morgan Stanley increased their price target on DICK'S Sporting Goods from $232.00 to $253.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Barclays raised their target price on DICK'S Sporting Goods from $232.00 to $246.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Finally, Bank of America decreased their target price on DICK'S Sporting Goods from $250.00 to $240.00 and set a "buy" rating for the company in a research note on Tuesday, June 24th. Ten research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, DICK'S Sporting Goods has a consensus rating of "Moderate Buy" and a consensus price target of $235.83.

Insider Transactions at DICK'S Sporting Goods

In related news, EVP Navdeep Gupta sold 13,334 shares of DICK'S Sporting Goods stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $225.00, for a total transaction of $3,000,150.00. Following the transaction, the executive vice president owned 74,444 shares of the company's stock, valued at $16,749,900. The trade was a 15.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Elizabeth H. Baran sold 1,830 shares of DICK'S Sporting Goods stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $204.65, for a total value of $374,509.50. Following the transaction, the senior vice president directly owned 12,465 shares in the company, valued at approximately $2,550,962.25. The trade was a 12.80% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,200 shares of company stock valued at $14,462,923. Company insiders own 32.55% of the company's stock.

DICK'S Sporting Goods Trading Down 2.3%

NYSE DKS traded down $5.15 during trading hours on Friday, hitting $222.06. 1,970,490 shares of the company's stock were exchanged, compared to its average volume of 1,573,688. The stock has a 50-day simple moving average of $217.77 and a 200 day simple moving average of $199.98. DICK'S Sporting Goods, Inc. has a 1-year low of $166.37 and a 1-year high of $254.60. The firm has a market cap of $17.79 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 3.19 and a beta of 1.02. The company has a current ratio of 1.70, a quick ratio of 0.55 and a debt-to-equity ratio of 0.44.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The sporting goods retailer reported $4.38 EPS for the quarter, beating analysts' consensus estimates of $4.30 by $0.08. DICK'S Sporting Goods had a return on equity of 36.54% and a net margin of 8.52%.The firm had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.61 billion. During the same quarter last year, the firm posted $4.37 earnings per share. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. DICK'S Sporting Goods has set its FY 2025 guidance at 13.900-14.500 EPS. On average, equities analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK'S Sporting Goods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Friday, September 12th. DICK'S Sporting Goods's dividend payout ratio (DPR) is 33.87%.

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.