Independent Advisor Alliance Boosts Stock Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Independent Advisor Alliance boosted its position in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,026 shares of the sporting goods retailer’s stock after acquiring an additional 53 shares during the quarter. Independent Advisor Alliance’s holdings in DICK’S Sporting Goods were worth $235,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Greenleaf Trust raised its holdings in DICK’S Sporting Goods by 3.0% during the fourth quarter. Greenleaf Trust now owns 1,721 shares of the sporting goods retailer’s stock worth $394,000 after purchasing an additional 50 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of DICK’S Sporting Goods by 1.7% in the third quarter. CIBC Asset Management Inc now owns 3,232 shares of the sporting goods retailer’s stock valued at $675,000 after purchasing an additional 54 shares during the period. Atria Wealth Solutions Inc. increased its stake in DICK’S Sporting Goods by 2.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer’s stock valued at $577,000 after buying an additional 54 shares during the period. Stonegate Investment Group LLC raised its holdings in DICK’S Sporting Goods by 2.9% during the fourth quarter. Stonegate Investment Group LLC now owns 2,066 shares of the sporting goods retailer’s stock worth $473,000 after purchasing an additional 58 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in shares of DICK’S Sporting Goods by 9.4% during the 4th quarter. IFP Advisors Inc now owns 769 shares of the sporting goods retailer’s stock worth $176,000 after buying an additional 66 shares in the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

DICK’S Sporting Goods Price Performance

DICK’S Sporting Goods stock opened at $198.42 on Thursday. The firm has a fifty day moving average of $226.60 and a 200-day moving average of $217.31. DICK’S Sporting Goods, Inc. has a 52-week low of $182.84 and a 52-week high of $254.60. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $16.17 billion, a P/E ratio of 14.18, a PEG ratio of 2.47 and a beta of 1.53.

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 (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.85 EPS. As a group, analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Friday, March 28th. 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 currently 34.54%.

DICK’S Sporting Goods announced that its board has authorized a share repurchase program on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DKS. Telsey Advisory Group reiterated an “outperform” rating and issued a $250.00 price target on shares of DICK’S Sporting Goods in a report on Friday, March 14th. Citigroup restated a “neutral” rating and issued a $220.00 price objective (down from $230.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. DA Davidson lowered 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. Morgan Stanley upped their price objective 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. Finally, Argus lifted their target price on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Nine 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 has a consensus rating of “Moderate Buy” and a consensus target price of $245.50.

Insider Buying and Selling at DICK’S Sporting Goods

In related news, Director Lawrence J. Schorr sold 7,333 shares of the business’s stock in a transaction dated 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 owns 50,997 shares in the company, valued at approximately $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were 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 of the company’s stock, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 corporate insiders.

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.