Montecito Bank & Trust Raises Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Montecito Bank & Trust grew its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 28.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,780 shares of the sporting goods retailer’s stock after buying an additional 390 shares during the quarter. Montecito Bank & Trust’s holdings in DICK’S Sporting Goods were worth $407,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in DKS. Holocene Advisors LP acquired a new position in DICK’S Sporting Goods during the 3rd quarter worth approximately $70,562,000. KBC Group NV lifted its position in shares of DICK’S Sporting Goods by 887.3% during the 3rd quarter. KBC Group NV now owns 250,374 shares of the sporting goods retailer’s stock worth $52,253,000 after purchasing an additional 225,015 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of DICK’S Sporting Goods by 19,851.3% during the third quarter. International Assets Investment Management LLC now owns 208,491 shares of the sporting goods retailer’s stock worth $43,512,000 after purchasing an additional 207,446 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in DICK’S Sporting Goods by 1,718.2% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 200,000 shares of the sporting goods retailer’s stock valued at $41,740,000 after buying an additional 189,000 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in DICK’S Sporting Goods by 40.2% in the second quarter. AQR Capital Management LLC now owns 545,045 shares of the sporting goods retailer’s stock valued at $117,103,000 after buying an additional 156,227 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

DICK’S Sporting Goods Stock Performance

Shares of DKS opened at $250.09 on Friday. DICK’S Sporting Goods, Inc. has a 1 year low of $148.95 and a 1 year high of $254.60. The stock has a market capitalization of $20.37 billion, a P/E ratio of 17.88, a P/E/G ratio of 2.69 and a beta of 1.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The company’s fifty day moving average is $221.74 and its two-hundred day moving average is $214.79.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the previous year, the business earned $2.85 earnings per share. The company’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 13.88 earnings per share for the current year.

DICK’S Sporting Goods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.40 dividend on an annualized basis and a yield of 1.76%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 31.45%.

Analysts Set New Price Targets

A number of research analysts have recently commented on DKS shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $260.00 price objective on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and increased their price target for the company from $225.00 to $260.00 in a research note on Wednesday, November 27th. Morgan Stanley boosted their price objective on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday. TD Cowen increased their target price on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, 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 research note on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, DICK’S Sporting Goods has a consensus rating of “Moderate Buy” and an average target price of $246.57.

Insider Activity

In related news, Director Lawrence J. Schorr sold 7,333 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total value of $1,697,956.15. Following the completion of the transaction, the director now directly owns 50,997 shares of the company’s stock, 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 SEC, which is available at this hyperlink. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’s stock in a transaction on 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 directly owns 16,504 shares in the company, valued at $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 worth $39,655,456. Company insiders own 32.03% of the company’s stock.

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.