Cibc World Markets Corp Decreases Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Cibc World Markets Corp lessened its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 22.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,618 shares of the sporting goods retailer’s stock after selling 757 shares during the quarter. Cibc World Markets Corp’s holdings in DICK’S Sporting Goods were worth $599,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of DKS. Brooklyn Investment Group acquired a new position in DICK’S Sporting Goods in the 3rd quarter worth approximately $27,000. New Wave Wealth Advisors LLC acquired a new position in DICK’S Sporting Goods in the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new position in DICK’S Sporting Goods in the 4th quarter worth approximately $30,000. True Wealth Design LLC increased its holdings in DICK’S Sporting Goods by 2,900.0% in the 3rd quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock worth $31,000 after buying an additional 145 shares during the period. Finally, Sound Income Strategies LLC increased its holdings in DICK’S Sporting Goods by 590.0% in the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock worth $32,000 after buying an additional 118 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

DKS has been the topic of several research reports. TD Cowen increased their price target on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Robert W. Baird dropped their price objective on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Citigroup reaffirmed a “neutral” rating and set a $220.00 price objective (down previously from $230.00) on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Loop Capital dropped their price objective on shares of DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating on the stock in a research note on Thursday, March 13th. Finally, UBS Group raised shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $225.00 to $260.00 in a research note on Wednesday, November 27th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.50.

Insider Transactions at DICK’S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK’S Sporting Goods stock in a transaction 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 transaction, the executive vice president now owns 16,504 shares in the company, valued at $3,762,746.96. The trade was a 23.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 172,933 shares of company stock worth $39,655,456 in the last quarter. Company insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Trading Up 2.1 %

Shares of DKS stock opened at $195.30 on Friday. The stock’s fifty day moving average is $225.07 and its two-hundred day moving average is $216.74. 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 firm has a market capitalization of $15.91 billion, a P/E ratio of 13.96, a PEG ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods, Inc. has a fifty-two week low of $182.84 and a fifty-two week high of $254.60.

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

DICK’S Sporting Goods Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s payout ratio is currently 34.54%.

DICK’S Sporting Goods announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

About DICK’S Sporting Goods

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.