DICK’S Sporting Goods, Inc. (NYSE:DKS) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,053 shares of the sporting goods retailer’s stock after purchasing an additional 5,521 shares during the quarter. Commonwealth Equity Services LLC owned 0.07% of DICK’S Sporting Goods worth $13,514,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Greenleaf Trust raised its holdings in DICK’S Sporting Goods by 3.0% during the fourth quarter. Greenleaf Trust now owns 1,721 shares of the sporting goods retailer’s stock worth $394,000 after purchasing an additional 50 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of DICK’S Sporting Goods by 5.4% in the fourth quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer’s stock worth $235,000 after acquiring an additional 53 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of DICK’S Sporting Goods by 1.7% in the third quarter. CIBC Asset Management Inc now owns 3,232 shares of the sporting goods retailer’s stock worth $675,000 after acquiring an additional 54 shares during the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of DICK’S Sporting Goods by 2.2% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer’s stock worth $577,000 after acquiring an additional 54 shares during the last quarter. Finally, Stonegate Investment Group LLC raised its holdings in shares of DICK’S Sporting Goods by 2.9% in the fourth quarter. Stonegate Investment Group LLC now owns 2,066 shares of the sporting goods retailer’s stock worth $473,000 after acquiring an additional 58 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

DICK’S Sporting Goods Price Performance

DKS stock opened at $193.39 on Wednesday. The stock has a 50-day moving average price of $227.28 and a two-hundred day moving average price of $217.45. DICK’S Sporting Goods, Inc. has a 12-month low of $182.84 and a 12-month high of $254.60. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The company has a market cap of $15.76 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.15. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the business earned $3.85 earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

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

DICK’S Sporting Goods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $1.2125 dividend. 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 2.51%. DICK’S Sporting Goods’s dividend payout ratio is presently 34.54%.

Insider Transactions at DICK’S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lawrence J. Schorr sold 7,333 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 50,997 shares of the company’s stock, valued at $11,808,355.35. The trade was a 12.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 172,933 shares of company stock valued at $39,655,456 over the last quarter. Company insiders own 32.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DKS. Stifel Nicolaus cut their price target on DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating for the company in a report on Wednesday, March 12th. Wedbush reissued a “neutral” rating and issued a $215.00 price target on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Robert W. Baird cut their price target on DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Morgan Stanley boosted their price target on DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Guggenheim reiterated a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $245.50.

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.