Modern Wealth Management LLC Makes New Investment in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Modern Wealth Management LLC purchased a new position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 1,423 shares of the sporting goods retailer’s stock, valued at approximately $337,000.

Several other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC increased its position in DICK’S Sporting Goods by 108.5% during the 3rd quarter. Cerity Partners LLC now owns 14,647 shares of the sporting goods retailer’s stock valued at $3,057,000 after purchasing an additional 7,621 shares during the period. Daiwa Securities Group Inc. increased its holdings in DICK’S Sporting Goods by 9.8% during the third quarter. Daiwa Securities Group Inc. now owns 4,500 shares of the sporting goods retailer’s stock valued at $939,000 after buying an additional 400 shares during the period. Brooklyn Investment Group purchased a new position in DICK’S Sporting Goods during the third quarter valued at approximately $27,000. BNP Paribas Financial Markets raised its stake in DICK’S Sporting Goods by 0.5% in the third quarter. BNP Paribas Financial Markets now owns 51,795 shares of the sporting goods retailer’s stock worth $10,810,000 after buying an additional 259 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. lifted its holdings in DICK’S Sporting Goods by 49,000.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 491 shares of the sporting goods retailer’s stock worth $103,000 after buying an additional 490 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Insider Activity

In other DICK’S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $229.25, for a total value 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 approximately $1,917,017,844. The trade was a 1.88 % decrease in their ownership of the stock. The sale 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 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 value of $1,139,950.00. Following the completion of the sale, the executive vice president now owns 16,504 shares in the company, valued at approximately $3,762,746.96. This represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 172,933 shares of company stock valued at $39,655,456 in the last quarter. 32.03% of the stock is currently owned by company insiders.

DICK’S Sporting Goods Trading Up 1.6 %

DICK’S Sporting Goods stock opened at $210.14 on Friday. The stock has a 50-day moving average price of $223.71 and a 200 day moving average price of $216.54. The company has a market capitalization of $17.12 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. 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.

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

DICK’S Sporting Goods announced that its board has initiated a stock repurchase program on Tuesday, March 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the sporting goods retailer to purchase up to 18.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $1.2125 dividend. This represents a $4.85 annualized dividend and a dividend yield of 2.31%. 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 payout ratio is 34.54%.

Analysts Set New Price Targets

DKS has been the topic of a number of analyst reports. TD Cowen lifted their price target on DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Loop Capital reduced their target price 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. Citigroup restated a “neutral” rating and issued a $220.00 price target (down from $230.00) on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of DICK’S Sporting Goods in a research report on Friday, March 14th. Finally, Robert W. Baird decreased 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. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $245.50.

About DICK’S Sporting Goods

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.