Kingsview Wealth Management LLC Raises Stock Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Kingsview Wealth Management LLC boosted its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 9.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,337 shares of the sporting goods retailer’s stock after acquiring an additional 385 shares during the period. Kingsview Wealth Management LLC’s holdings in DICK’S Sporting Goods were worth $993,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Vest Financial LLC grew its stake in DICK’S Sporting Goods by 57.2% during the fourth quarter. Vest Financial LLC now owns 11,106 shares of the sporting goods retailer’s stock valued at $2,541,000 after acquiring an additional 4,040 shares in the last quarter. Conning Inc. grew its stake in DICK’S Sporting Goods by 55.9% during the fourth quarter. Conning Inc. now owns 2,310 shares of the sporting goods retailer’s stock valued at $529,000 after acquiring an additional 828 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in DICK’S Sporting Goods by 0.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 143,713 shares of the sporting goods retailer’s stock valued at $32,887,000 after acquiring an additional 657 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in DICK’S Sporting Goods during the fourth quarter valued at approximately $293,000. Finally, Argus Investors Counsel Inc. purchased a new position in DICK’S Sporting Goods during the fourth quarter valued at approximately $257,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on DKS shares. Wedbush reiterated a “neutral” rating and set a $215.00 target price (down from $250.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, November 27th. Argus lifted their target price on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. TD Cowen lifted their target price on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and lifted their target price for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $260.00 target price on shares of DICK’S Sporting Goods in a research report on Tuesday, November 26th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $248.09.

DICK’S Sporting Goods Price Performance

Shares of DKS stock opened at $244.13 on Wednesday. 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 $160.31 and a fifty-two week high of $254.60. The firm has a market cap of $19.89 billion, a P/E ratio of 17.45, a P/E/G ratio of 2.57 and a beta of 1.57. The business’s 50 day moving average price is $229.93 and its 200-day moving average price is $217.54.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.07. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter in the previous year, the business posted $2.85 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities research analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a $1.10 dividend. The ex-dividend date was Friday, December 13th. This represents a $4.40 annualized dividend and a dividend yield of 1.80%. DICK’S Sporting Goods’s payout ratio is 31.45%.

Insider Buying and Selling

In related news, Chairman Edward W. Stack sold 160,600 shares of the 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence J. Schorr sold 7,333 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total transaction 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 approximately $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 sold a total of 172,933 shares of company stock worth $39,655,456 in the last three months. 32.03% of the stock is owned by corporate insiders.

About DICK’S Sporting Goods

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.