Kensington Investment Counsel LLC Purchases 2,219 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Kensington Investment Counsel LLC grew its position in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 60.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,885 shares of the sporting goods retailer’s stock after buying an additional 2,219 shares during the period. Kensington Investment Counsel LLC’s holdings in DICK’S Sporting Goods were worth $1,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Marion Wealth Management acquired a new stake in shares of DICK’S Sporting Goods during the 4th quarter worth about $545,000. Strategy Asset Managers LLC acquired a new stake in shares of DICK’S Sporting Goods during the 3rd quarter worth about $4,325,000. Argus Investors Counsel Inc. acquired a new stake in shares of DICK’S Sporting Goods during the 4th quarter worth about $257,000. Landscape Capital Management L.L.C. lifted its stake in shares of DICK’S Sporting Goods by 402.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 15,344 shares of the sporting goods retailer’s stock worth $3,202,000 after buying an additional 12,293 shares during the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its stake in shares of DICK’S Sporting Goods by 78.2% during the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,495 shares of the sporting goods retailer’s stock worth $2,631,000 after buying an additional 5,046 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

DICK’S Sporting Goods Price Performance

Shares of NYSE:DKS opened at $197.60 on Tuesday. The firm has a 50 day moving average of $227.97 and a 200-day moving average of $217.75. The stock has a market capitalization of $16.10 billion, a PE ratio of 14.12, a PEG ratio of 2.47 and a beta of 1.53. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. 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 announced its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.15. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The firm’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.85 EPS. On average, equities research analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods declared that its Board of Directors has initiated a stock buyback plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The business 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. The ex-dividend date is Friday, March 28th. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a dividend yield of 2.45%. DICK’S Sporting Goods’s payout ratio is 34.54%.

Insider Activity at DICK’S Sporting Goods

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK’S Sporting Goods stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,762,746.96. The trade was a 23.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of DICK’S Sporting Goods stock in a transaction that occurred on Monday, January 6th. The shares were 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 $1,917,017,844. This trade represents 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. 32.03% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DKS shares. Guggenheim restated a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. TD Cowen raised their target price 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. Telsey Advisory Group reiterated an “outperform” rating and issued a $250.00 price objective on shares of DICK’S Sporting Goods in a research note on Friday. UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $225.00 to $260.00 in a research note on Wednesday, November 27th. Finally, Argus lifted their price objective on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $245.50.

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.