TrueMark Investments LLC Acquires 5,450 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

TrueMark Investments LLC boosted its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 66.5% during the fourth quarter, Holdings Channel reports. The fund owned 13,645 shares of the sporting goods retailer’s stock after purchasing an additional 5,450 shares during the period. TrueMark Investments LLC’s holdings in DICK’S Sporting Goods were worth $3,123,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Wealthfront Advisers LLC bought a new position in shares of DICK’S Sporting Goods in the fourth quarter valued at about $1,893,210,000. Holocene Advisors LP acquired a new stake in DICK’S Sporting Goods during the third quarter worth approximately $70,562,000. KBC Group NV boosted its holdings in shares of DICK’S Sporting Goods by 86.8% during the fourth quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer’s stock worth $107,043,000 after acquiring an additional 217,390 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of 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 purchasing an additional 189,000 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of DICK’S Sporting Goods during the third quarter worth approximately $32,093,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Insider Transactions at DICK’S Sporting Goods

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction on 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 directly owns 16,504 shares in the company, valued at $3,762,746.96. This represents a 23.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lawrence J. Schorr sold 7,333 shares of the firm’s 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 directly owns 50,997 shares of the company’s stock, valued at approximately $11,808,355.35. This represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,933 shares of company stock worth $39,655,456. Insiders own 32.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on DKS. DA Davidson decreased their price objective on DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Morgan Stanley upped their price target on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Guggenheim reiterated a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. 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 on the stock in a research report on Wednesday, March 12th. Finally, UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and lifted their price target 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 twelve have issued a buy rating to the stock. According to MarketBeat, DICK’S Sporting Goods has an average rating of “Moderate Buy” and a consensus target price of $245.50.

DICK’S Sporting Goods Price Performance

Shares of NYSE:DKS opened at $207.97 on Wednesday. The firm has a 50 day simple moving average of $224.43 and a 200 day simple moving average of $216.65. The company has a market cap of $16.94 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods, Inc. has a one year low of $182.84 and a one year high of $254.60. 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 quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 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 company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the prior year, the company earned $3.85 EPS. DICK’S Sporting Goods’s revenue was up .5% compared to the same quarter last year. Research analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods declared that its board has approved a share buyback program 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The company also recently declared 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 represents a $4.85 dividend on an annualized basis and a dividend yield of 2.33%. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 28th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 34.54%.

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.