CIBC Private Wealth Group LLC Sells 7,920 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

CIBC Private Wealth Group LLC decreased its position in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404,116 shares of the sporting goods retailer’s stock after selling 7,920 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.50% of DICK’S Sporting Goods worth $94,373,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DKS. Wealthfront Advisers LLC purchased a new position in DICK’S Sporting Goods in the fourth quarter worth about $1,893,210,000. State Street Corp increased its position in shares of DICK’S Sporting Goods by 1.2% during the third quarter. State Street Corp now owns 2,259,133 shares of the sporting goods retailer’s stock valued at $473,945,000 after acquiring an additional 27,155 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in DICK’S Sporting Goods by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,866,177 shares of the sporting goods retailer’s stock worth $427,056,000 after acquiring an additional 77,357 shares during the last quarter. Geode Capital Management LLC lifted its position in DICK’S Sporting Goods by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,042,782 shares of the sporting goods retailer’s stock valued at $217,169,000 after acquiring an additional 10,640 shares in the last quarter. Finally, Norges Bank purchased a new stake in DICK’S Sporting Goods during the 4th quarter valued at $221,693,000. Institutional investors own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

DKS has been the subject of several recent analyst reports. Wedbush restated 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. Citigroup reissued a “neutral” rating and issued a $220.00 target price (down previously from $230.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Morgan Stanley raised their price target on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. DA Davidson reduced their price target on shares of DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, Stifel Nicolaus lowered their price objective on shares of DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating on the stock in a research report on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, DICK’S Sporting Goods has a consensus rating of “Moderate Buy” and an average target price of $245.50.

Insider Activity

In related news, Chairman Edward W. Stack sold 160,600 shares of DICK’S Sporting Goods stock in a transaction that occurred on 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 owns 8,362,128 shares of the company’s stock, valued at approximately $1,917,017,844. This trade represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence J. Schorr sold 7,333 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 owns 50,997 shares of the company’s stock, valued at $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 172,933 shares of company stock worth $39,655,456 over the last ninety days. Corporate insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Stock Down 3.8 %

DKS stock opened at $202.09 on Monday. The business’s 50-day moving average price is $223.19 and its 200-day moving average price is $216.62. The stock has a market cap of $16.47 billion, a P/E ratio of 14.45, a PEG ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods, Inc. has a twelve month low of $182.84 and a twelve month high of $254.60. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48.

DICK’S Sporting Goods (NYSE:DKS) last issued 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. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.85 earnings per share. On average, equities research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

The firm also recently declared 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 is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 dividend on an annualized basis and a yield of 2.40%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is currently 34.54%.

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

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.