FineMark National Bank & Trust Cuts Stock Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

FineMark National Bank & Trust reduced its position in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 22.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,273 shares of the sporting goods retailer’s stock after selling 370 shares during the period. FineMark National Bank & Trust’s holdings in DICK’S Sporting Goods were worth $274,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DKS. Covestor Ltd increased its holdings in shares of DICK’S Sporting Goods by 70.5% in the 1st quarter. Covestor Ltd now owns 133 shares of the sporting goods retailer’s stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Quent Capital LLC increased its holdings in DICK’S Sporting Goods by 0.6% in the 2nd quarter. Quent Capital LLC now owns 9,752 shares of the sporting goods retailer’s stock worth $2,095,000 after buying an additional 57 shares in the last quarter. US Bancorp DE raised its position in DICK’S Sporting Goods by 1.5% in the 4th quarter. US Bancorp DE now owns 4,901 shares of the sporting goods retailer’s stock worth $720,000 after buying an additional 71 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in DICK’S Sporting Goods by 0.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 13,370 shares of the sporting goods retailer’s stock valued at $1,965,000 after acquiring an additional 87 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its stake in DICK’S Sporting Goods by 0.3% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 28,218 shares of the sporting goods retailer’s stock valued at $4,147,000 after acquiring an additional 94 shares during the period. 89.83% of the stock is owned by institutional investors.

DICK’S Sporting Goods Stock Performance

DKS opened at $208.04 on Friday. The company has a 50 day simple moving average of $214.27 and a two-hundred day simple moving average of $207.70. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.71 and a quick ratio of 0.65. The firm has a market cap of $16.95 billion, a P/E ratio of 17.22, a PEG ratio of 2.59 and a beta of 1.65. DICK’S Sporting Goods, Inc. has a 1-year low of $100.98 and a 1-year high of $239.30.

DICK’S Sporting Goods (NYSE:DKS) last issued its earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.60. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.44 billion. DICK’S Sporting Goods had a net margin of 7.73% and a return on equity of 41.80%. DICK’S Sporting Goods’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.82 EPS. Equities analysts forecast that DICK’S Sporting Goods, Inc. will post 13.8 earnings per share for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.11%. The ex-dividend date is Thursday, September 19th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 36.42%.

Analyst Upgrades and Downgrades

DKS has been the subject of a number of research analyst reports. Citigroup reduced their price target on shares of DICK’S Sporting Goods from $243.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday. UBS Group boosted their target price on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Telsey Advisory Group increased their price target on DICK’S Sporting Goods from $255.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Wells Fargo & Company cut their price objective on DICK’S Sporting Goods from $230.00 to $227.00 and set an “equal weight” rating for the company in a report on Monday, August 12th. Finally, Wedbush reissued a “neutral” rating and issued a $250.00 target price on shares of DICK’S Sporting Goods in a report on Thursday. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.43.

Insider Buying and Selling

In other DICK’S Sporting Goods news, Director Desiree Ralls-Morrison sold 3,489 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $206.65, for a total transaction of $721,001.85. Following the completion of the sale, the director now directly owns 5,609 shares of the company’s stock, valued at approximately $1,159,099.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. 32.03% of the stock is owned by insiders.

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.