Glenview Trust co Takes Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Glenview Trust co bought a new stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,711 shares of the sporting goods retailer’s stock, valued at approximately $1,078,000.

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new position in shares of DICK’S Sporting Goods during the 3rd quarter valued at approximately $27,000. New Wave Wealth Advisors LLC purchased a new stake in DICK’S Sporting Goods in the 4th quarter worth $28,000. Rialto Wealth Management LLC purchased a new stake in DICK’S Sporting Goods in the 4th quarter worth $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 acquiring an additional 145 shares in the last quarter. 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 acquiring an additional 118 shares in the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of the company’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 represents a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Edward W. Stack sold 160,600 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the completion of the transaction, the chairman now directly owns 8,362,128 shares in the company, valued at $1,917,017,844. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 172,933 shares of company stock valued at $39,655,456 over the last 90 days. 32.03% of the stock is owned by insiders.

DICK’S Sporting Goods Trading Up 1.6 %

Shares of DKS stock opened at $197.60 on Tuesday. The company’s 50-day moving average price is $227.97 and its 200-day moving average price is $217.75. 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 stock has a market cap of $16.10 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods, Inc. has a twelve month low of $182.84 and a twelve month high of $254.60.

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

DICK’S Sporting Goods declared that its board has approved a share buyback 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 reacquire up to 18.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors 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. Shareholders of record on Friday, March 28th will be given a $1.2125 dividend. The ex-dividend date is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a yield of 2.45%. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio is presently 34.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. DA Davidson cut their price target on shares of DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Loop Capital cut their price target on shares of DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating for the company in a report on Thursday, March 13th. 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. Morgan Stanley boosted their price target on shares of 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, TD Cowen upped 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 report on Wednesday, January 8th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, DICK’S Sporting Goods has a consensus rating of “Moderate Buy” and an average price target of $245.50.

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.