LPL Financial LLC Sells 8,177 Shares of DICK'S Sporting Goods, Inc. (NYSE:DKS)

Key Points

• LPL Financial LLC reduced its stake in DICK'S Sporting Goods by 16.9%, selling 8,177 shares and owning approximately 0.05% of the company worth $8,093,000.
• Several institutional investors, including Dimensional Fund Advisors LP and Northern Trust Corp, have increased their holdings in DICK'S Sporting Goods, reflecting an overall institutional ownership of 89.83%.
• DICK'S Sporting Goods recently declared a quarterly dividend of $1.2125 per share, representing an annualized dividend yield of 2.3%.

LPL Financial LLC cut its position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 16.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,151 shares of the sporting goods retailer's stock after selling 8,177 shares during the period. LPL Financial LLC owned 0.05% of DICK'S Sporting Goods worth $8,093,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DKS. Park Square Financial Group LLC acquired a new position in DICK'S Sporting Goods during the 4th quarter worth approximately $27,000. Ancora Advisors LLC bought a new position in DICK'S Sporting Goods during the fourth quarter worth $28,000. Bessemer Group Inc. lifted its stake in shares of DICK'S Sporting Goods by 108.6% in the fourth quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock valued at $33,000 after buying an additional 76 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of DICK'S Sporting Goods by 54.1% in the first quarter. Private Trust Co. NA now owns 188 shares of the sporting goods retailer's stock valued at $38,000 after purchasing an additional 66 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of DICK'S Sporting Goods by 1,435.7% in the first 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 last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

DICK'S Sporting Goods Trading Up 4.9%

NYSE DKS traded up $10.37 on Tuesday, hitting $222.25. 2,228,373 shares of the stock were exchanged, compared to its average volume of 1,128,266. 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 stock has a fifty day moving average price of $200.20 and a two-hundred day moving average price of $202.11. The firm has a market capitalization of $17.79 billion, a P/E ratio of 15.90, a P/E/G ratio of 3.02 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 data on Wednesday, May 28th. The sporting goods retailer reported $3.37 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 during the quarter, compared to analyst estimates of $3.12 billion. Research 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 firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given 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 was Friday, June 13th. DICK'S Sporting Goods's dividend payout ratio (DPR) is 34.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DKS shares. Telsey Advisory Group reiterated an "outperform" rating and issued a $220.00 target price on shares of DICK'S Sporting Goods in a research note on Wednesday, May 28th. Wall Street Zen upgraded shares of DICK'S Sporting Goods from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. TD Cowen downgraded shares of DICK'S Sporting Goods from a "buy" rating to a "hold" rating and set a $216.00 price target on the stock. in a research note on Thursday, May 15th. Truist Financial set a $230.00 target price on shares of DICK'S Sporting Goods in a research note on Wednesday, May 28th. Finally, Wells Fargo & Company lifted their target price on shares of DICK'S Sporting Goods from $171.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, DICK'S Sporting Goods currently has a consensus rating of "Hold" and an average target price of $221.50.

Insider Buying and Selling at DICK'S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 1,026 shares of DICK'S Sporting Goods stock in a transaction on Friday, June 27th. The stock was sold at an average price of $203.50, for a total transaction of $208,791.00. Following the completion of the sale, the executive vice president directly owned 18,139 shares in the company, valued at approximately $3,691,286.50. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Eddy acquired 1,280 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The stock was purchased at an average price of $194.99 per share, with a total value of $249,587.20. Following the completion of the acquisition, the director directly owned 6,048 shares of the company's stock, valued at $1,179,299.52. This represents a 26.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 55,866 shares of company stock valued at $11,462,773. 32.55% of the stock is owned by company insiders.

DICK'S Sporting Goods Company 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.