KBC Group NV Sells 265,602 Shares of DICK'S Sporting Goods, Inc. (NYSE:DKS)

KBC Group NV lowered its stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 56.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 202,162 shares of the sporting goods retailer's stock after selling 265,602 shares during the period. KBC Group NV owned approximately 0.25% of DICK'S Sporting Goods worth $40,748,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in DICK'S Sporting Goods by 264.3% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 76,610 shares of the sporting goods retailer's stock valued at $14,122,000 after purchasing an additional 55,578 shares during the period. Diversified Trust Co purchased a new position in DICK'S Sporting Goods during the 1st quarter valued at about $300,000. Alpine Bank Wealth Management purchased a new position in DICK'S Sporting Goods during the 1st quarter valued at about $89,000. Golden State Wealth Management LLC increased its holdings in DICK'S Sporting Goods by 1,435.7% during the 1st quarter. Golden State Wealth Management LLC now owns 215 shares of the sporting goods retailer's stock valued at $43,000 after purchasing an additional 201 shares during the period. Finally, Bessemer Group Inc. increased its holdings in DICK'S Sporting Goods by 49.3% during the 1st quarter. Bessemer Group Inc. now owns 218 shares of the sporting goods retailer's stock valued at $44,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 89.83% of the company's stock.

Insider Activity

In other news, Director Robert W. Eddy purchased 1,357 shares of the stock in a transaction dated Wednesday, June 25th. The shares were purchased at an average cost of $185.31 per share, with a total value of $251,465.67. Following the acquisition, the director directly owned 4,768 shares of the company's stock, valued at $883,558.08. This represents a 39.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Julie Lodge-Jarrett sold 3,541 shares of the stock in a transaction on Thursday, June 26th. The shares were 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 in the company, valued at $3,583,855. The trade was a 15.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,733 shares of company stock valued at $9,088,118 in the last ninety days. 32.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DKS shares. Truist Financial set a $230.00 price target on DICK'S Sporting Goods in a report on Wednesday, May 28th. Stifel Nicolaus reduced their target price on DICK'S Sporting Goods from $226.00 to $192.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Robert W. Baird reduced their target price on DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating on the stock in a report on Friday, May 16th. Telsey Advisory Group reiterated an "outperform" rating and set a $220.00 target price on shares of DICK'S Sporting Goods in a report on Wednesday, May 28th. Finally, Wall Street Zen upgraded DICK'S Sporting Goods from a "sell" rating to a "hold" rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $219.56.

DICK'S Sporting Goods Stock Up 4.2%

Shares of DICK'S Sporting Goods stock traded up $8.25 during midday trading on Tuesday, hitting $206.06. The company had a trading volume of 1,935,180 shares, compared to its average volume of 1,289,702. The stock has a market capitalization of $16.50 billion, a P/E ratio of 14.74, a P/E/G ratio of 2.82 and a beta of 1.07. DICK'S Sporting Goods, Inc. has a 52-week low of $166.37 and a 52-week high of $254.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.47 and a current ratio of 1.62. The company has a 50 day moving average of $184.24 and a 200 day moving average of $205.74.

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

DICK'S Sporting Goods declared that its Board of Directors has approved a share buyback program on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

DICK'S Sporting Goods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $1.2125 per share. The ex-dividend date was Friday, June 13th. This represents a $4.85 annualized dividend and a dividend yield of 2.35%. DICK'S Sporting Goods's payout ratio is 34.69%.

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.