Carolina Wealth Advisors LLC Sells 551 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Carolina Wealth Advisors LLC lessened its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,538 shares of the sporting goods retailer’s stock after selling 551 shares during the quarter. DICK’S Sporting Goods makes up approximately 4.0% of Carolina Wealth Advisors LLC’s holdings, making the stock its 5th biggest holding. Carolina Wealth Advisors LLC’s holdings in DICK’S Sporting Goods were worth $7,365,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. XTX Topco Ltd acquired a new stake in DICK’S Sporting Goods during the fourth quarter worth about $485,000. Fifth Third Bancorp raised its stake in DICK’S Sporting Goods by 27.5% during the first quarter. Fifth Third Bancorp now owns 968 shares of the sporting goods retailer’s stock worth $195,000 after acquiring an additional 209 shares during the period. NBC Securities Inc. acquired a new stake in DICK’S Sporting Goods during the first quarter worth about $54,000. Janus Henderson Group PLC raised its stake in DICK’S Sporting Goods by 15.9% during the fourth quarter. Janus Henderson Group PLC now owns 11,640 shares of the sporting goods retailer’s stock worth $2,664,000 after acquiring an additional 1,594 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in DICK’S Sporting Goods by 15.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,144 shares of the sporting goods retailer’s stock worth $491,000 after acquiring an additional 281 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

DICK’S Sporting Goods Trading Up 3.6%

DICK’S Sporting Goods stock opened at $202.98 on Friday. The stock has a market capitalization of $16.25 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 2.79 and a beta of 1.07. 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 debt-to-equity ratio of 0.49, a current ratio of 1.62 and a quick ratio of 0.47. The firm has a 50 day simple moving average of $183.82 and a 200-day simple moving average of $206.11.

DICK’S Sporting Goods (NYSE:DKS) last issued its earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.37. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.12 billion. DICK’S Sporting Goods had a net margin of 8.49% and a return on equity of 38.06%. As a group, equities research analysts expect 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. Investors of record on Friday, June 13th were issued a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Friday, June 13th. DICK’S Sporting Goods’s payout ratio is 34.69%.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $220.00 price objective on shares of DICK’S Sporting Goods in a research note on Wednesday, May 28th. Citigroup restated a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Thursday, May 29th. Bank of America dropped their price target on shares of DICK’S Sporting Goods from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Tuesday. Truist Financial set a $230.00 price target on shares of DICK’S Sporting Goods in a research note on Wednesday, May 28th. Finally, Wells Fargo & Company raised their price target on shares of DICK’S Sporting Goods from $171.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, DICK’S Sporting Goods has a consensus rating of “Hold” and a consensus target price of $219.56.

Insider Buying and Selling

In related news, EVP Julie Lodge-Jarrett sold 3,541 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 19,165 shares in the company, valued at approximately $3,583,855. This represents a 15.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Eddy purchased 1,280 shares of DICK’S Sporting Goods 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 transaction, the director now owns 6,048 shares in the company, valued at $1,179,299.52. This represents a 26.85% increase in their position. The disclosure for this purchase can be found here. 32.55% of the stock is currently owned by insiders.

About DICK’S Sporting Goods

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.