Kornitzer Capital Management Inc. KS Purchases New Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Kornitzer Capital Management Inc. KS purchased a new stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) in the fourth quarter, Holdings Channel reports. The firm purchased 2,125 shares of the sporting goods retailer’s stock, valued at approximately $486,000.

A number of other large investors have also recently modified their holdings of DKS. Blue Trust Inc. boosted its holdings in shares of DICK’S Sporting Goods by 210.9% in the third quarter. Blue Trust Inc. now owns 998 shares of the sporting goods retailer’s stock valued at $214,000 after purchasing an additional 677 shares during the period. OLD National Bancorp IN lifted its holdings in DICK’S Sporting Goods by 5.8% during the third quarter. OLD National Bancorp IN now owns 1,903 shares of the sporting goods retailer’s stock worth $397,000 after buying an additional 105 shares during the period. Signaturefd LLC lifted its holdings in DICK’S Sporting Goods by 13.3% during the third quarter. Signaturefd LLC now owns 979 shares of the sporting goods retailer’s stock worth $204,000 after buying an additional 115 shares during the period. Eastern Bank purchased a new stake in DICK’S Sporting Goods during the third quarter worth $267,000. Finally, Waldron Private Wealth LLC purchased a new stake in DICK’S Sporting Goods during the third quarter worth $241,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Price Performance

Shares of DKS opened at $230.98 on Thursday. The business’s 50-day moving average is $232.71 and its two-hundred day moving average is $218.72. The company has a market capitalization of $18.82 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.55 and a beta of 1.57. 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 $165.31 and a fifty-two week high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.07. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.03 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm earned $2.85 EPS. Research analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, December 13th. DICK’S Sporting Goods’s dividend payout ratio is currently 31.45%.

Insiders Place Their Bets

In other news, Director Lawrence J. Schorr sold 7,333 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the sale, the director now directly owns 50,997 shares of the company’s stock, valued at $11,808,355.35. This represents a 12.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $229.25, for a total transaction 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. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,933 shares of company stock valued at $39,655,456. Company insiders own 32.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DKS. Morgan Stanley upped their target price on DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Loop Capital upped their target price on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Wedbush reaffirmed a “neutral” rating and set a $215.00 price target (down from $250.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, November 27th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $260.00 price target on shares of DICK’S Sporting Goods in a research report on Tuesday, November 26th. Finally, Argus upped their price target on DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $248.09.

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.