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In a recent transaction, Julie Lodge-Jarrett, the Executive Vice President, Chief People & Purpose Officer of Dick’s Sporting Goods, Inc. (NYSE:), sold 9,140 shares of the company’s common stock. The shares were sold at an average price of $211.50, amounting to a total value of $1,933,110. This transaction took place on March 15, 2024, as reported in a filing with the Securities and Exchange Commission.
The sale was part of a series of transactions involving both the acquisition and disposal of Dick’s Sporting Goods shares by Lodge-Jarrett. On the same day as the sale, Lodge-Jarrett also acquired 9,140 shares of common stock at a price of $12.82 per share, totaling $117,174. This transaction was related to the exercise of stock options, as indicated in the footnotes of the filing, which mentioned that the exercise price had been adjusted due to a special cash dividend paid by the company on September 24, 2021.
Following the sale, Lodge-Jarrett’s ownership in the company stands at 20,856 shares of common stock. Additionally, the executive still holds rights to buy 9,140 shares from her stock option award, which vests in four equal annual installments beginning on April 3, 2021, and is set to expire on April 3, 2027.
Investors often watch the buying and selling activity of company insiders to gain insights into the potential future performance of the company’s stock. The transactions by Dick’s Sporting Goods’ executive provide a glimpse into the insider’s stock holdings and financial dealings with the company.
The filing did not include any specific reasons for Lodge-Jarrett’s decision to sell the shares. However, it is not uncommon for executives to sell shares for personal financial planning, diversification, and other reasons unrelated to their outlook on the company’s future performance.
Dick’s Sporting Goods, headquartered in Coraopolis, Pennsylvania, is a leading omnichannel sporting goods retailer offering an extensive assortment of authentic, high-quality sports equipment, apparel, footwear, and accessories. As of the date of the transaction, the company’s shares are publicly traded on the New York Stock Exchange under the ticker symbol DKS.
InvestingPro Insights
Following the recent insider transactions at Dick’s Sporting Goods, Inc. (NYSE:DKS), investors may find the latest data from InvestingPro valuable in assessing the stock’s current position. The company’s market capitalization stands at a robust $17.57 billion, reflecting its significant presence in the retail sector. Notably, the stock has experienced a remarkable price total return of 16.89% over the last week, which aligns with the InvestingPro Tip highlighting a significant return in this period. This surge may be of interest to potential investors considering the stock’s recent momentum.
From a valuation standpoint, Dick’s Sporting Goods is trading at a price-to-earnings (P/E) ratio of 16.88, which, when adjusted for the last twelve months as of Q4 2024, slightly decreases to 15.82. This suggests a high valuation relative to near-term earnings growth, an observation supported by another InvestingPro Tip that indicates the stock is trading at a high P/E ratio in this context. Moreover, the stock’s price is nearing its 52-week high, currently at 95.57% of this peak, which may signal investor confidence or, conversely, a potential reevaluation of its growth prospects.
For those interested in further analysis and additional InvestingPro Tips, Dick’s Sporting Goods has 19 more tips available, which can be accessed at InvestingPro. By using the coupon code PRONEWS24, readers can benefit from an extra 10% off a yearly or biyearly Pro and Pro+ subscription, offering a deeper dive into the company’s financial health and stock performance.
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