Montecito Bank & Trust Increases Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Montecito Bank & Trust raised its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 28.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,780 shares of the sporting goods retailer’s stock after acquiring an additional 390 shares during the quarter. Montecito Bank & Trust’s holdings in DICK’S Sporting Goods were worth $407,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of DKS. Holocene Advisors LP purchased a new position in DICK’S Sporting Goods during the third quarter worth approximately $70,562,000. KBC Group NV raised its stake in shares of DICK’S Sporting Goods by 887.3% during the 3rd quarter. KBC Group NV now owns 250,374 shares of the sporting goods retailer’s stock worth $52,253,000 after buying an additional 225,015 shares during the period. International Assets Investment Management LLC lifted its position in shares of DICK’S Sporting Goods by 19,851.3% during the 3rd quarter. International Assets Investment Management LLC now owns 208,491 shares of the sporting goods retailer’s stock valued at $43,512,000 after buying an additional 207,446 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in DICK’S Sporting Goods by 1,718.2% in the 3rd 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 acquiring an additional 189,000 shares during the period. Finally, AQR Capital Management LLC increased its holdings in DICK’S Sporting Goods by 40.2% in the 2nd quarter. AQR Capital Management LLC now owns 545,045 shares of the sporting goods retailer’s stock worth $117,103,000 after acquiring an additional 156,227 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Truist Financial increased their price objective on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Loop Capital raised their price target on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Telsey Advisory Group reiterated an “outperform” rating and issued a $260.00 price objective on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. Wedbush reissued a “neutral” rating and set a $215.00 target price (down previously from $250.00) on shares of DICK’S Sporting Goods in a report on Wednesday, November 27th. Finally, UBS Group upgraded DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their target price for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, DICK’S Sporting Goods has an average rating of “Moderate Buy” and a consensus price target of $246.57.

Insider Activity

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of the business’s 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 sale, the executive vice president now owns 16,504 shares in the company, valued at approximately $3,762,746.96. The trade was a 23.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lawrence J. Schorr sold 7,333 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were 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 of the company’s stock, valued at $11,808,355.35. This trade represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,933 shares of company stock valued at $39,655,456. Company insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Trading Up 1.8 %

DKS opened at $250.09 on Friday. The stock has a market capitalization of $20.37 billion, a PE ratio of 17.88, a P/E/G ratio of 2.69 and a beta of 1.58. DICK’S Sporting Goods, Inc. has a one year low of $148.95 and a one year high of $254.60. 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 business’s 50 day moving average price is $221.74 and its 200 day moving average price is $214.79.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, beating the consensus estimate of $2.68 by $0.07. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.03 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.85 EPS. As a group, equities research analysts expect that DICK’S Sporting Goods, Inc. will post 13.88 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Friday, December 13th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 31.45%.

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.