FineMark National Bank & Trust Has $227,000 Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

FineMark National Bank & Trust cut its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 9.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Greenleaf Trust lifted its stake in DICK’S Sporting Goods by 3.0% in the fourth quarter. Greenleaf Trust now owns 1,721 shares of the sporting goods retailer’s stock valued at $394,000 after buying an additional 50 shares during the period. Independent Advisor Alliance increased its stake in shares of DICK’S Sporting Goods by 5.4% in the 4th quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer’s stock valued at $235,000 after acquiring an additional 53 shares in the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of DICK’S Sporting Goods by 2.2% during the 4th quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer’s stock valued at $577,000 after acquiring an additional 54 shares during the period. Stonegate Investment Group LLC boosted its stake in DICK’S Sporting Goods by 2.9% during the fourth quarter. Stonegate Investment Group LLC now owns 2,066 shares of the sporting goods retailer’s stock worth $473,000 after acquiring an additional 58 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in DICK’S Sporting Goods by 9.4% in the fourth quarter. IFP Advisors Inc now owns 769 shares of the sporting goods retailer’s stock worth $176,000 after purchasing an additional 66 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. TD Cowen increased 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 report on Wednesday, January 8th. Argus raised their price objective on DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and upped their target price for the stock from $225.00 to $260.00 in a research report on Wednesday, November 27th. Citigroup reissued a “neutral” rating and issued a $220.00 price target (down previously from $230.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Finally, DA Davidson lowered their price objective on shares of DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $245.50.

DICK’S Sporting Goods Price Performance

Shares of NYSE DKS opened at $207.16 on Thursday. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $16.88 billion, a PE ratio of 14.81, a PEG ratio of 2.47 and a beta of 1.53. The stock’s 50 day moving average price is $224.05 and its 200-day moving average price is $216.58. DICK’S Sporting Goods, Inc. has a twelve month low of $182.84 and a twelve month high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.15. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.85 EPS. On average, equities analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

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

DICK’S Sporting Goods announced that its board has initiated a stock repurchase plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions 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 dated Friday, January 17th. The stock was sold at an average price of $227.99, for a total value of $1,139,950.00. Following the completion of the sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the business’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 completion of the sale, the chairman now owns 8,362,128 shares in the company, valued at $1,917,017,844. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,933 shares of company stock worth $39,655,456 in the last quarter. Insiders own 32.03% of the company’s stock.

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.