Summit Securities Group LLC Acquires Shares of 900 DICK’S Sporting Goods, Inc. (NYSE:DKS)

Summit Securities Group LLC bought a new position in DICK’S Sporting Goods, Inc. (NYSE:DKS) during the 4th quarter, Holdings Channel reports. The fund bought 900 shares of the sporting goods retailer’s stock, valued at approximately $206,000.

Other large investors have also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in DICK’S Sporting Goods in the 3rd quarter worth approximately $27,000. New Wave Wealth Advisors LLC purchased a new position in shares of DICK’S Sporting Goods in the fourth quarter valued at $28,000. Rialto Wealth Management LLC bought a new stake in DICK’S Sporting Goods in the fourth quarter worth $30,000. True Wealth Design LLC raised its stake in DICK’S Sporting Goods by 2,900.0% during the third quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock valued at $31,000 after purchasing an additional 145 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its position in DICK’S Sporting Goods by 590.0% during the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock valued at $32,000 after purchasing an additional 118 shares during the last quarter. 89.83% of the stock is owned by institutional investors.

Insider Buying and Selling at DICK’S Sporting Goods

In other news, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the sale, the chairman now directly owns 8,362,128 shares in the company, valued at approximately $1,917,017,844. This trade represents a 1.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the completion of the transaction, the director now directly owns 50,997 shares in the company, valued at approximately $11,808,355.35. The trade was a 12.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,933 shares of company stock valued at $39,655,456. 32.03% of the stock is currently owned by corporate insiders.

DICK’S Sporting Goods Price Performance

DKS opened at $202.09 on Friday. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The business’s fifty day simple moving average is $223.19 and its 200-day simple moving average is $216.56. The company has a market capitalization of $16.47 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods, Inc. has a 12-month low of $182.84 and a 12-month high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, beating analysts’ consensus estimates 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 quarter last year, the firm posted $3.85 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities research analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

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 is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a yield of 2.40%. This is a positive change 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 declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DKS. Citigroup restated a “neutral” rating and issued a $220.00 target price (down from $230.00) on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Wedbush restated a “neutral” rating and set a $215.00 price objective on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Guggenheim reaffirmed a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Argus increased their price target 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. Finally, TD Cowen lifted their price objective on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, DICK’S Sporting Goods has an average rating of “Moderate Buy” and an average target price of $245.50.

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.