Korea Investment CORP Reduces Stake in DICK'S Sporting Goods, Inc. $DKS

Key Points

• Korea Investment CORP significantly reduced its stake in DICK'S Sporting Goods, Inc. by 88.0%, selling 51,572 shares and leaving it with 7,029 shares valued at $1.4 million.
• The company's stock holds an average rating of "Hold" from analysts, with a consensus target price of $225.00.
• DICK'S Sporting Goods recently declared a quarterly dividend of $1.2125 per share, resulting in an annualized yield of 2.1% with a payout ratio of 34.69%.

Korea Investment CORP lowered its position in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 88.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,029 shares of the sporting goods retailer's stock after selling 51,572 shares during the period. Korea Investment CORP's holdings in DICK'S Sporting Goods were worth $1,417,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DKS. Brooklyn Investment Group increased its position in DICK'S Sporting Goods by 91.2% during the 1st quarter. Brooklyn Investment Group now owns 260 shares of the sporting goods retailer's stock valued at $52,000 after buying an additional 124 shares in the last quarter. Versor Investments LP bought a new position in DICK'S Sporting Goods during the 1st quarter valued at approximately $418,000. Summit Securities Group LLC increased its position in DICK'S Sporting Goods by 17.4% during the 1st quarter. Summit Securities Group LLC now owns 1,057 shares of the sporting goods retailer's stock valued at $213,000 after buying an additional 157 shares in the last quarter. Roberts Capital Advisors LLC bought a new position in DICK'S Sporting Goods during the 1st quarter valued at approximately $551,000. Finally, Oder Investment Management LLC increased its position in DICK'S Sporting Goods by 1.0% during the 1st quarter. Oder Investment Management LLC now owns 5,258 shares of the sporting goods retailer's stock valued at $1,060,000 after buying an additional 51 shares in the last quarter. Institutional investors own 89.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DKS shares. Bank of America reduced their price objective on DICK'S Sporting Goods from $250.00 to $240.00 and set a "buy" rating for the company in a research report on Tuesday, June 24th. TD Cowen lowered DICK'S Sporting Goods from a "buy" rating to a "hold" rating and set a $216.00 price objective for the company. in a research report on Thursday, May 15th. UBS Group reduced their price objective on DICK'S Sporting Goods from $260.00 to $225.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Wells Fargo & Company raised their price objective on DICK'S Sporting Goods from $187.00 to $215.00 and gave the company an "equal weight" rating in a research report on Thursday, August 14th. Finally, Loop Capital set a $215.00 target price on DICK'S Sporting Goods and gave the company a "hold" rating in a research note on Wednesday, July 30th. Nine analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $223.33.

Insider Transactions at DICK'S Sporting Goods

In other news, EVP Navdeep Gupta sold 13,334 shares of DICK'S Sporting Goods stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $225.00, for a total value of $3,000,150.00. Following the sale, the executive vice president directly owned 74,444 shares of the company's stock, valued at approximately $16,749,900. The trade was a 15.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Elizabeth H. Baran sold 1,830 shares of DICK'S Sporting Goods stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $204.65, for a total value of $374,509.50. Following the completion of the sale, the senior vice president directly owned 12,465 shares in the company, valued at $2,550,962.25. This trade represents a 12.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,200 shares of company stock valued at $14,462,923. 32.55% of the stock is owned by insiders.

DICK'S Sporting Goods Stock Performance

NYSE DKS traded down $1.04 on Tuesday, hitting $226.80. 3,371,069 shares of the company traded hands, compared to its average volume of 1,219,814. The company has a current ratio of 1.62, a quick ratio of 0.47 and a debt-to-equity ratio of 0.49. The business's 50 day moving average price is $209.26 and its 200-day moving average price is $200.95. The company has a market capitalization of $18.16 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 3.33 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.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 EPS for the quarter, meeting analysts' consensus estimates 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%. DICK'S Sporting Goods has set its FY 2025 guidance at 13.800-14.400 EPS. Equities analysts expect that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a $1.2125 dividend. This represents a $4.85 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, June 13th. 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.