Corebridge Financial Inc. Sells 1,497 Shares of DICK'S Sporting Goods, Inc. $DKS

Key Points

• Corebridge Financial Inc. has reduced its stake in DICK'S Sporting Goods by 2.3%, owning 63,999 shares valued at approximately $12.9 million.
• CEO Lauren R. Hobart sold 40,166 shares, resulting in an 11.81% decrease in her ownership, while Director Robert W. Eddy increased his holding by purchasing 1,280 shares.
• DICK'S Sporting Goods recently announced a quarterly dividend of $1.2125 per share, reflecting a yield of 2.1% and a payout ratio of 34.69%.

Corebridge Financial Inc. trimmed its stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,999 shares of the sporting goods retailer's stock after selling 1,497 shares during the period. Corebridge Financial Inc. owned about 0.08% of DICK'S Sporting Goods worth $12,900,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DKS. Wellington Management Group LLP boosted its position in shares of DICK'S Sporting Goods by 416.9% in the 1st quarter. Wellington Management Group LLP now owns 2,829,780 shares of the sporting goods retailer's stock valued at $570,370,000 after purchasing an additional 2,282,300 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of DICK'S Sporting Goods by 1,899.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 630,566 shares of the sporting goods retailer's stock valued at $127,097,000 after purchasing an additional 599,025 shares during the period. Vanguard Group Inc. boosted its position in shares of DICK'S Sporting Goods by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 5,850,223 shares of the sporting goods retailer's stock valued at $1,179,171,000 after purchasing an additional 471,217 shares during the period. Junto Capital Management LP acquired a new position in shares of DICK'S Sporting Goods in the 4th quarter valued at $89,351,000. Finally, GAMMA Investing LLC boosted its position in shares of DICK'S Sporting Goods by 24,140.8% in the 1st quarter. GAMMA Investing LLC now owns 291,859 shares of the sporting goods retailer's stock valued at $58,827,000 after purchasing an additional 290,655 shares during the period. Institutional investors and hedge funds own 89.83% of the company's stock.

DICK'S Sporting Goods Stock Down 1.3%

Shares of DKS traded down $2.83 during midday trading on Friday, reaching $212.25. 4,116,067 shares of the stock were exchanged, compared to its average volume of 1,685,300. The firm has a 50 day simple moving average of $211.90 and a 200-day simple moving average of $200.76. The company has a quick ratio of 0.47, a current ratio of 1.70 and a debt-to-equity ratio of 0.44. DICK'S Sporting Goods, Inc. has a 12-month low of $166.37 and a 12-month high of $254.60. The company has a market cap of $16.99 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 3.16 and a beta of 1.07.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last issued its quarterly earnings data on Thursday, August 28th. The sporting goods retailer reported $4.38 earnings per share 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 business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period last year, the business earned $4.37 EPS. The firm's revenue 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. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors 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 dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, September 12th. DICK'S Sporting Goods's dividend payout ratio (DPR) is presently 34.69%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DKS shares. 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 report on Friday. DA Davidson reiterated a "buy" rating and issued a $230.00 price target on shares of DICK'S Sporting Goods in a research report on Friday, June 27th. Telsey Advisory Group reiterated an "outperform" rating and issued a $255.00 price target on shares of DICK'S Sporting Goods in a research report on Thursday. Loop Capital set a $215.00 price objective on DICK'S Sporting Goods and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Finally, Robert W. Baird decreased their price objective on DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating for the company in a research report on Friday, May 16th. Ten investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $233.21.

Insiders Place Their Bets

In related news, EVP Julie Lodge-Jarrett sold 3,541 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $187.00, for a total value of $662,167.00. Following the transaction, the executive vice president directly owned 19,165 shares of the company's stock, valued at approximately $3,583,855. This trade represents a 15.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Navdeep Gupta sold 13,334 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $225.00, for a total value of $3,000,150.00. Following the completion of the transaction, the executive vice president directly owned 74,444 shares in the company, valued at $16,749,900. The trade was 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 in the last three months. 32.55% of the stock is owned by insiders.

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.