King Wealth Management Group Sells 63 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

King Wealth Management Group lowered its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,418 shares of the sporting goods retailer’s stock after selling 63 shares during the period. King Wealth Management Group’s holdings in DICK’S Sporting Goods were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Wealthfront Advisers LLC bought a new position in DICK’S Sporting Goods during the 4th quarter worth $1,893,210,000. Holocene Advisors LP acquired a new position in shares of DICK’S Sporting Goods in the third quarter valued at about $70,562,000. KBC Group NV raised its stake in DICK’S Sporting Goods by 887.3% in the 3rd quarter. KBC Group NV now owns 250,374 shares of the sporting goods retailer’s stock worth $52,253,000 after purchasing an additional 225,015 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings 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 purchasing an additional 189,000 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of DICK’S Sporting Goods during the 3rd quarter worth approximately $32,093,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DICK’S Sporting Goods

In related news, Director Lawrence J. Schorr sold 7,333 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 50,997 shares in the company, valued at $11,808,355.35. This represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were 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 directly owns 16,504 shares of the company’s stock, valued at $3,762,746.96. This represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 172,933 shares of company stock worth $39,655,456. Insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Stock Performance

DICK’S Sporting Goods stock opened at $186.69 on Friday. The business has a 50 day moving average of $230.08 and a 200-day moving average of $218.77. The company has a market capitalization of $15.21 billion, a P/E ratio of 13.34, a P/E/G ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods, Inc. has a 1 year low of $182.84 and a 1 year high of $254.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56.

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. The firm had revenue of $3.89 billion during 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% on a year-over-year basis. During the same period in the prior year, the company posted $3.85 EPS. On average, equities research analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods announced that its Board of Directors has authorized a share buyback program on Tuesday, March 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management 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 issued a dividend of $1.2125 per share. The ex-dividend date of this dividend is Friday, March 28th. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a yield of 2.60%. DICK’S Sporting Goods’s payout ratio is presently 31.45%.

Analyst Ratings Changes

DKS has been the subject of a number of analyst reports. TD Cowen lifted their price target on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Argus lifted their price objective on DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Wedbush reiterated a “neutral” rating and set a $215.00 target price on shares of DICK’S Sporting Goods in a research report on Wednesday. Stifel Nicolaus decreased their price target on DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and boosted their price target for the company from $225.00 to $260.00 in a research note on Wednesday, November 27th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $245.55.

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.