Fifth Third Bancorp Cuts Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Fifth Third Bancorp trimmed its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 10.3% during the 4th quarter, Holdings Channel reports. The fund owned 759 shares of the sporting goods retailer’s stock after selling 87 shares during the period. Fifth Third Bancorp’s holdings in DICK’S Sporting Goods were worth $174,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Impact Partnership Wealth LLC raised its stake in DICK’S Sporting Goods by 14.8% during the fourth quarter. Impact Partnership Wealth LLC now owns 1,679 shares of the sporting goods retailer’s stock valued at $384,000 after purchasing an additional 217 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of DICK’S Sporting Goods by 590.0% in the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock valued at $32,000 after acquiring an additional 118 shares during the last quarter. Montecito Bank & Trust increased its stake in DICK’S Sporting Goods by 28.1% during the fourth quarter. Montecito Bank & Trust now owns 1,780 shares of the sporting goods retailer’s stock worth $407,000 after acquiring an additional 390 shares during the last quarter. Whalen Wealth Management Inc. purchased a new stake in DICK’S Sporting Goods during the fourth quarter valued at approximately $271,000. Finally, Wendell David Associates Inc. lifted its stake in shares of DICK’S Sporting Goods by 63.1% in the 4th quarter. Wendell David Associates Inc. now owns 7,833 shares of the sporting goods retailer’s stock valued at $1,793,000 after purchasing an additional 3,030 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DKS. Argus boosted their target price on DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley boosted their price objective on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Truist Financial raised their target price on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Wedbush reiterated a “neutral” rating and set a $215.00 price target (down from $250.00) on shares of DICK’S Sporting Goods in a report on Wednesday, November 27th. Finally, UBS Group upgraded DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and boosted their target price for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $248.09.

DICK’S Sporting Goods Stock Performance

Shares of NYSE:DKS opened at $240.11 on Friday. The firm has a 50 day moving average of $226.27 and a 200 day moving average of $216.06. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $19.56 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 2.79 and a beta of 1.58. DICK’S Sporting Goods, Inc. has a 52 week low of $148.95 and a 52 week high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, topping the consensus estimate of $2.68 by $0.07. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same period in the previous year, the company posted $2.85 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, sell-side analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Friday, December 13th. DICK’S Sporting Goods’s payout ratio is currently 31.45%.

Insider Buying and Selling

In related news, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total value of $1,697,956.15. Following the completion of the sale, the director now directly owns 50,997 shares in the company, valued at $11,808,355.35. This trade represents a 12.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the transaction, the executive vice president now owns 16,504 shares in the company, valued at $3,762,746.96. The trade was a 23.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 172,933 shares of company stock worth $39,655,456 in the last 90 days. 32.03% of the stock is owned by corporate 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.