DICK’S Sporting Goods, Inc. (NYSE:DKS) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,442 shares of the sporting goods retailer’s stock after selling 818 shares during the period. PNC Financial Services Group Inc.’s holdings in DICK’S Sporting Goods were worth $5,593,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Marion Wealth Management bought a new position in shares of DICK’S Sporting Goods during the fourth quarter worth about $545,000. Strategy Asset Managers LLC bought a new position in shares of DICK’S Sporting Goods during the third quarter worth about $4,325,000. Argus Investors Counsel Inc. bought a new position in shares of DICK’S Sporting Goods during the fourth quarter worth about $257,000. Landscape Capital Management L.L.C. grew its position in shares of DICK’S Sporting Goods by 402.9% during the third quarter. Landscape Capital Management L.L.C. now owns 15,344 shares of the sporting goods retailer’s stock worth $3,202,000 after acquiring an additional 12,293 shares during the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO grew its position in shares of DICK’S Sporting Goods by 78.2% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,495 shares of the sporting goods retailer’s stock worth $2,631,000 after acquiring an additional 5,046 shares during 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 $194.63 on Thursday. DICK’S Sporting Goods, Inc. has a one year low of $182.25 and a one year high of $254.60. The company has a 50-day moving average of $230.08 and a two-hundred day moving average of $218.77. The stock has a market cap of $15.86 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 2.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56.

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

DICK’S Sporting Goods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $1.2125 dividend. This represents a $4.85 annualized dividend and a dividend yield of 2.49%. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 28th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 31.45%.

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

Analyst Ratings Changes

Several equities analysts have recently commented on DKS shares. Argus upped their price target on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Telsey Advisory Group restated an “outperform” rating and set a $260.00 price target on shares of DICK’S Sporting Goods in a research report on Friday, March 7th. Robert W. Baird decreased their target price on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday. Guggenheim reiterated a “neutral” rating on shares of DICK’S Sporting Goods in a research report on Wednesday. Finally, UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and increased their target price for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Nine 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, DICK’S Sporting Goods presently has an average rating of “Moderate Buy” and an average target price of $246.91.

Insiders Place Their Bets

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 shares were sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the completion of the sale, the director now directly owns 50,997 shares in the company, valued at approximately $11,808,355.35. This trade represents a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at approximately $3,762,746.96. This represents a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,933 shares of company stock worth $39,655,456 over the last ninety days. 32.03% of the stock is currently owned by company insiders.

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.