PNC Financial Services Group Inc. Sells 7,244 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

PNC Financial Services Group Inc. cut its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 16.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,948 shares of the sporting goods retailer’s stock after selling 7,244 shares during the period. PNC Financial Services Group Inc.’s holdings in DICK’S Sporting Goods were worth $5,576,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in DICK’S Sporting Goods by 280.0% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 190 shares of the sporting goods retailer’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Blue Trust Inc. raised its stake in shares of DICK’S Sporting Goods by 236.8% during the 4th quarter. Blue Trust Inc. now owns 293 shares of the sporting goods retailer’s stock worth $43,000 after purchasing an additional 206 shares during the period. Capital Analysts LLC raised its stake in shares of DICK’S Sporting Goods by 132.5% during the 4th quarter. Capital Analysts LLC now owns 451 shares of the sporting goods retailer’s stock worth $66,000 after purchasing an additional 257 shares during the period. Allworth Financial LP raised its stake in shares of DICK’S Sporting Goods by 2,505.3% during the 4th quarter. Allworth Financial LP now owns 495 shares of the sporting goods retailer’s stock worth $73,000 after purchasing an additional 476 shares during the period. Finally, Signaturefd LLC raised its stake in shares of DICK’S Sporting Goods by 30.5% during the 4th quarter. Signaturefd LLC now owns 638 shares of the sporting goods retailer’s stock worth $94,000 after purchasing an additional 149 shares during the period. 89.83% of the stock is currently owned by institutional investors.

DICK’S Sporting Goods Stock Performance

Shares of DKS opened at $227.70 on Wednesday. The company has a market cap of $18.56 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 2.55 and a beta of 1.62. The company has a current ratio of 1.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average price of $204.76 and a 200-day moving average price of $180.34. DICK’S Sporting Goods, Inc. has a 12-month low of $100.98 and a 12-month high of $230.05.

DICK’S Sporting Goods (NYSE:DKS) last released its earnings results on Wednesday, May 29th. The sporting goods retailer reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.36. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.94 billion. DICK’S Sporting Goods had a return on equity of 41.80% and a net margin of 7.73%. DICK’S Sporting Goods’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.40 EPS. As a group, equities analysts forecast that DICK’S Sporting Goods, Inc. will post 13.76 earnings per share for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $1.10 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $4.40 dividend on an annualized basis and a yield of 1.93%. DICK’S Sporting Goods’s payout ratio is 36.42%.

Insider Buying and Selling

In related news, EVP Julie Lodge-Jarrett sold 4,910 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $222.02, for a total value of $1,090,118.20. Following the completion of the sale, the executive vice president now owns 16,504 shares in the company, valued at approximately $3,664,218.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other DICK’S Sporting Goods news, SVP Elizabeth H. Baran sold 2,175 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $221.78, for a total value of $482,371.50. Following the completion of the sale, the senior vice president now owns 11,051 shares in the company, valued at $2,450,890.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Julie Lodge-Jarrett sold 4,910 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $222.02, for a total value of $1,090,118.20. Following the completion of the sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at approximately $3,664,218.08. The disclosure for this sale can be found here. Insiders sold 214,674 shares of company stock worth $47,573,772 in the last quarter. 32.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DKS shares. Citigroup lifted their target price on DICK’S Sporting Goods from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. DA Davidson lifted their price objective on DICK’S Sporting Goods from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Barclays lifted their price objective on DICK’S Sporting Goods from $231.00 to $247.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Wedbush reissued a “neutral” rating and issued a $230.00 price objective on shares of DICK’S Sporting Goods in a report on Wednesday, June 5th. Finally, Williams Trading raised DICK’S Sporting Goods from a “hold” rating to a “buy” rating and lifted their target price for the company from $154.00 to $235.00 in a report on Thursday, March 14th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, DICK’S Sporting Goods presently has an average rating of “Moderate Buy” and a consensus target price of $237.09.

About DICK’S Sporting Goods

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.