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

FineMark National Bank & Trust decreased its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 9.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 991 shares of the sporting goods retailer’s stock after selling 105 shares during the period. FineMark National Bank & Trust’s holdings in DICK’S Sporting Goods were worth $227,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new stake in shares of DICK’S Sporting Goods in the third quarter worth about $27,000. New Wave Wealth Advisors LLC bought a new stake in DICK’S Sporting Goods during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC purchased a new stake in DICK’S Sporting Goods in the 4th quarter worth approximately $30,000. True Wealth Design LLC boosted its holdings in DICK’S Sporting Goods by 2,900.0% in the 3rd 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 during the period. Finally, Sound Income Strategies LLC grew its position in shares of DICK’S Sporting Goods by 590.0% during the 4th 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 in the last quarter. Institutional investors own 89.83% of the company’s stock.

Insider Buying and Selling at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total value 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. This represents a 12.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK’S Sporting Goods stock in a transaction dated 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 in the company, valued at $3,762,746.96. The trade was 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 in the last 90 days. Insiders own 32.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Truist Financial set a $245.00 price objective on DICK’S Sporting Goods in a research report on Tuesday, March 11th. Guggenheim reiterated a “neutral” rating on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Citigroup reaffirmed a “neutral” rating and issued a $220.00 target price (down from $230.00) on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Wedbush reissued a “neutral” rating and issued a $215.00 price target on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Finally, Morgan Stanley raised 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 report on Tuesday, January 21st. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $245.50.

DICK’S Sporting Goods Stock Performance

NYSE:DKS opened at $207.16 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. DICK’S Sporting Goods, Inc. has a fifty-two week low of $182.84 and a fifty-two week high of $254.60. The firm has a market cap of $16.88 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. The business has a 50 day moving average price of $224.05 and a 200-day moving average price of $216.58.

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 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 during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the company posted $3.85 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. 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 declared that its board has authorized a share 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 buy up to 18.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Friday, March 28th. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s payout ratio is currently 34.54%.

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.