Glenview Trust co Makes New Investment in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Glenview Trust co purchased a new position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,711 shares of the sporting goods retailer’s stock, valued at approximately $1,078,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Wealthfront Advisers LLC purchased a new stake in DICK’S Sporting Goods during the fourth quarter worth about $1,893,210,000. State Street Corp increased its stake in DICK’S Sporting Goods by 1.2% during the third quarter. State Street Corp now owns 2,259,133 shares of the sporting goods retailer’s stock worth $473,945,000 after purchasing an additional 27,155 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of DICK’S Sporting Goods by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,866,177 shares of the sporting goods retailer’s stock worth $427,056,000 after buying an additional 77,357 shares during the period. Geode Capital Management LLC raised its holdings in DICK’S Sporting Goods by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,042,782 shares of the sporting goods retailer’s stock valued at $217,169,000 after acquiring an additional 10,640 shares in the last quarter. Finally, KBC Group NV raised its holdings in DICK’S Sporting Goods by 86.8% in the fourth quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer’s stock valued at $107,043,000 after acquiring an additional 217,390 shares in the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DKS has been the topic of several analyst reports. Morgan Stanley raised their target price on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Truist Financial set a $245.00 target price on shares of DICK’S Sporting Goods in a research note on Tuesday, March 11th. DA Davidson lowered their target price on shares of DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Citigroup reiterated a “neutral” rating and set a $220.00 target price (down previously from $230.00) on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Finally, TD Cowen boosted their target price on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $245.50.

Insider Transactions at DICK’S Sporting Goods

In other news, Director Lawrence J. Schorr sold 7,333 shares of the stock in a transaction dated 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 owns 50,997 shares in the company, valued at approximately $11,808,355.35. This represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 16,504 shares of the company’s stock, valued at $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. Over the last quarter, 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 Stock Performance

NYSE DKS opened at $197.60 on Tuesday. 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, Inc. has a 1 year low of $182.84 and a 1 year high of $254.60. The company has a market capitalization of $16.10 billion, a PE ratio of 14.12, a P/E/G ratio of 2.47 and a beta of 1.53. The company has a fifty day moving average of $227.97 and a two-hundred day moving average of $217.75.

DICK’S Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share 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 business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm earned $3.85 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. As a group, 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 firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $1.2125 per share. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 28th. This represents a $4.85 annualized dividend and a dividend yield of 2.45%. DICK’S Sporting Goods’s dividend payout ratio is 34.54%.

DICK’S Sporting Goods declared that its board has initiated a stock repurchase program on Tuesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the sporting goods retailer to purchase up to 18.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.