TrueMark Investments LLC Has $3.12 Million Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

TrueMark Investments LLC lifted its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 66.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DKS. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in DICK’S Sporting Goods by 2.0% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 83,427 shares of the sporting goods retailer’s stock worth $19,091,000 after buying an additional 1,630 shares in the last quarter. Keystone Investors PTE Ltd. acquired a new position in shares of DICK’S Sporting Goods during the fourth quarter valued at $3,556,000. Modern Wealth Management LLC bought a new position in DICK’S Sporting Goods in the fourth quarter valued at about $337,000. Stevens Capital Management LP bought a new stake in DICK’S Sporting Goods during the 4th quarter worth about $402,000. Finally, LPL Financial LLC lifted its position in DICK’S Sporting Goods by 12.0% during the 4th quarter. LPL Financial LLC now owns 48,328 shares of the sporting goods retailer’s stock valued at $11,059,000 after purchasing an additional 5,187 shares during the period. 89.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. DA Davidson dropped 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 research note on Wednesday, March 12th. Robert W. Baird dropped their target price on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Telsey Advisory Group restated an “outperform” rating and issued a $250.00 price target on shares of DICK’S Sporting Goods in a research report on Friday, March 14th. TD Cowen lifted their price objective on DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Argus increased their target price on DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $245.50.

Insiders Place Their Bets

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 16,504 shares in the company, valued at $3,762,746.96. This represents a 23.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $1,917,017,844. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 172,933 shares of company stock valued at $39,655,456 in the last three months. 32.03% of the stock is currently owned by corporate insiders.

DICK’S Sporting Goods Price Performance

DKS stock opened at $207.97 on Wednesday. The stock has a 50-day moving average price of $224.43 and a two-hundred day moving average price of $216.65. DICK’S Sporting Goods, Inc. has a 1 year low of $182.84 and a 1 year high of $254.60. The stock has a market cap of $16.94 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48.

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

DICK’S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $1.2125 dividend. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a yield of 2.33%. The ex-dividend date is Friday, March 28th. DICK’S Sporting Goods’s payout ratio is presently 34.54%.

DICK’S Sporting Goods declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.