DICK'S Sporting Goods, Inc. (NYSE:DKS) Shares Sold by Citigroup Inc.

Key Points

• Citigroup Inc. reduced its stake in DICK'S Sporting Goods by 77.4% in Q1, now holding 67,142 shares valued at approximately $13.5 million.
• Wall Street analysts have mixed ratings for the stock, with a consensus price target of $223.06 and multiple firms adjusting their target prices.
• DICK'S Sporting Goods recently declared a quarterly dividend of $1.2125 per share, resulting in an annualized yield of 2.2% and a payout ratio of 34.69%.

Citigroup Inc. decreased its holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 77.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,142 shares of the sporting goods retailer's stock after selling 230,491 shares during the quarter. Citigroup Inc. owned about 0.08% of DICK'S Sporting Goods worth $13,533,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bessemer Group Inc. raised its position in DICK'S Sporting Goods by 108.6% during the 4th quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock worth $33,000 after buying an additional 76 shares during the last quarter. Townsquare Capital LLC raised its position in DICK'S Sporting Goods by 529.8% during the 4th quarter. Townsquare Capital LLC now owns 8,175 shares of the sporting goods retailer's stock worth $1,871,000 after buying an additional 6,877 shares during the last quarter. CreativeOne Wealth LLC raised its position in DICK'S Sporting Goods by 48.4% during the 4th quarter. CreativeOne Wealth LLC now owns 3,737 shares of the sporting goods retailer's stock worth $855,000 after buying an additional 1,218 shares during the last quarter. XTX Topco Ltd purchased a new position in DICK'S Sporting Goods during the 4th quarter worth $485,000. Finally, Bridgewater Associates LP raised its position in DICK'S Sporting Goods by 4.1% during the 4th quarter. Bridgewater Associates LP now owns 6,251 shares of the sporting goods retailer's stock worth $1,430,000 after buying an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company's stock.

DICK'S Sporting Goods Trading Up 0.6%

Shares of DICK'S Sporting Goods stock traded up $1.35 during mid-day trading on Friday, hitting $224.16. 1,177,868 shares of the stock were exchanged, compared to its average volume of 1,134,681. DICK'S Sporting Goods, Inc. has a twelve month low of $166.37 and a twelve month high of $254.60. The stock has a market capitalization of $17.94 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 3.19 and a beta of 1.07. The company has a 50-day simple moving average of $202.94 and a 200 day simple moving average of $201.64. The company has a current ratio of 1.62, a quick ratio of 0.47 and a debt-to-equity ratio of 0.49.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.37. DICK'S Sporting Goods had a net margin of 8.49% and a return on equity of 38.06%. The company had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.12 billion. Research analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK'S Sporting Goods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, June 13th. DICK'S Sporting Goods's dividend payout ratio (DPR) is currently 34.69%.

Insider Activity at DICK'S Sporting Goods

In related news, Director Robert W. Eddy bought 1,280 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The shares were acquired at an average cost of $194.99 per share, with a total value of $249,587.20. Following the completion of the transaction, the director owned 6,048 shares of the company's stock, valued at approximately $1,179,299.52. The trade was a 26.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Navdeep Gupta sold 13,334 shares of the firm's 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 completion of the sale, the executive vice president directly owned 74,444 shares in the company, valued at $16,749,900. This represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,200 shares of company stock worth $14,462,923 over the last three months. Company insiders own 32.55% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DKS. UBS Group cut their price target on shares of DICK'S Sporting Goods from $260.00 to $225.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Loop Capital set a $215.00 price target on shares of DICK'S Sporting Goods and gave the company a "hold" rating in a report on Wednesday, July 30th. DA Davidson reiterated a "buy" rating and issued a $230.00 price target on shares of DICK'S Sporting Goods in a report on Friday, June 27th. Truist Financial set a $230.00 price target on shares of DICK'S Sporting Goods in a report on Wednesday, May 28th. Finally, Gordon Haskett upgraded shares of DICK'S Sporting Goods from a "reduce" rating to a "hold" rating in a report on Friday, July 25th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $223.06.

About DICK'S Sporting Goods

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.