Thrivent Financial for Lutherans Raises Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Thrivent Financial for Lutherans increased its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 24.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,694 shares of the sporting goods retailer’s stock after buying an additional 4,267 shares during the period. Thrivent Financial for Lutherans’ holdings in DICK’S Sporting Goods were worth $4,865,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in DKS. Greenleaf Trust lifted its holdings in DICK’S Sporting Goods by 3.0% during the fourth quarter. Greenleaf Trust now owns 1,721 shares of the sporting goods retailer’s stock worth $394,000 after buying an additional 50 shares during the period. Independent Advisor Alliance lifted its stake in shares of DICK’S Sporting Goods by 5.4% during the 4th quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer’s stock worth $235,000 after purchasing an additional 53 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in DICK’S Sporting Goods by 2.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer’s stock valued at $577,000 after purchasing an additional 54 shares in the last quarter. Stonegate Investment Group LLC grew its stake in DICK’S Sporting Goods by 2.9% in the fourth quarter. Stonegate Investment Group LLC now owns 2,066 shares of the sporting goods retailer’s stock valued at $473,000 after purchasing an additional 58 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in DICK’S Sporting Goods by 9.4% in the fourth quarter. IFP Advisors Inc now owns 769 shares of the sporting goods retailer’s stock worth $176,000 after purchasing an additional 66 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Edward W. Stack sold 160,600 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $229.25, for a total value of $36,817,550.00. Following the completion of the sale, the chairman now owns 8,362,128 shares of the company’s stock, valued at $1,917,017,844. This represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $227.99, for a total value of $1,139,950.00. Following the completion of the sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 172,933 shares of company stock valued at $39,655,456. Company insiders own 32.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on DKS shares. TD Cowen increased their price objective on DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. DA Davidson lowered their price target on DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Telsey Advisory Group restated an “outperform” rating and set a $250.00 price objective on shares of DICK’S Sporting Goods in a report on Friday, March 14th. Truist Financial set a $245.00 target price on shares of DICK’S Sporting Goods in a research note on Tuesday, March 11th. Finally, Guggenheim restated a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $245.50.

DICK’S Sporting Goods Stock Up 5.4 %

DKS opened at $206.06 on Tuesday. The stock has a market capitalization of $16.79 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods, Inc. has a 12 month low of $182.84 and a 12 month high of $254.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The business has a 50-day moving average of $224.69 and a two-hundred day moving average of $216.65.

DICK’S Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.15. The firm had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.85 earnings per share. On average, research analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods announced that its board has authorized a share buyback plan on Tuesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $1.2125 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $4.85 annualized dividend and a dividend yield of 2.35%. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio is presently 34.54%.

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.