Centric Wealth Management Grows Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Centric Wealth Management grew its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,723 shares of the sporting goods retailer’s stock after purchasing an additional 892 shares during the period. DICK’S Sporting Goods makes up about 0.8% of Centric Wealth Management’s portfolio, making the stock its 29th biggest holding. Centric Wealth Management’s holdings in DICK’S Sporting Goods were worth $2,616,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DKS. Victory Capital Management Inc. boosted its holdings in DICK’S Sporting Goods by 9,735.6% in the third quarter. Victory Capital Management Inc. now owns 2,239,273 shares of the sporting goods retailer’s stock worth $243,140,000 after acquiring an additional 2,216,506 shares in the last quarter. AQR Capital Management LLC grew its position in DICK’S Sporting Goods by 145.0% during the 3rd quarter. AQR Capital Management LLC now owns 789,482 shares of the sporting goods retailer’s stock worth $85,722,000 after purchasing an additional 467,243 shares during the last quarter. Barclays PLC increased its stake in DICK’S Sporting Goods by 148.3% during the 3rd quarter. Barclays PLC now owns 592,991 shares of the sporting goods retailer’s stock valued at $64,388,000 after purchasing an additional 354,217 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of DICK’S Sporting Goods in the fourth quarter worth $47,196,000. Finally, Invesco Ltd. lifted its stake in shares of DICK’S Sporting Goods by 230.0% during the third quarter. Invesco Ltd. now owns 427,767 shares of the sporting goods retailer’s stock worth $46,447,000 after buying an additional 298,121 shares during the period. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other DICK’S Sporting Goods news, CEO Lauren R. Hobart sold 40,167 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $223.95, for a total value of $8,995,399.65. Following the transaction, the chief executive officer now directly owns 280,136 shares in the company, valued at $62,736,457.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Navdeep Gupta sold 16,211 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $222.00, for a total value of $3,598,842.00. Following the completion of the sale, the chief financial officer now owns 87,628 shares in the company, valued at approximately $19,453,416. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Lauren R. Hobart sold 40,167 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $223.95, for a total transaction of $8,995,399.65. Following the sale, the chief executive officer now owns 280,136 shares of the company’s stock, valued at approximately $62,736,457.20. The disclosure for this sale can be found here. Insiders sold a total of 209,763 shares of company stock worth $46,483,438 over the last 90 days. 30.79% of the stock is owned by insiders.

DICK’S Sporting Goods Stock Down 3.5 %

DKS stock traded down $7.06 during mid-day trading on Wednesday, reaching $195.62. The company had a trading volume of 803,872 shares, compared to its average volume of 1,129,892. DICK’S Sporting Goods, Inc. has a fifty-two week low of $100.98 and a fifty-two week high of $225.79. The firm has a fifty day simple moving average of $202.88 and a 200 day simple moving average of $161.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.74 and a current ratio of 1.78. The company has a market capitalization of $16.13 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 2.46 and a beta of 1.61.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings data on Thursday, March 14th. The sporting goods retailer reported $3.85 earnings per share for the quarter, beating analysts’ consensus estimates of $3.35 by $0.50. The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.79 billion. DICK’S Sporting Goods had a net margin of 8.06% and a return on equity of 42.99%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $2.93 EPS. Analysts forecast that DICK’S Sporting Goods, Inc. will post 13.26 earnings per share for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.00. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 36.12%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on DKS shares. Robert W. Baird increased their price target on shares of DICK’S Sporting Goods from $145.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Stifel Nicolaus increased their target price on shares of DICK’S Sporting Goods from $126.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, March 15th. Morgan Stanley raised their target price on DICK’S Sporting Goods from $160.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Wedbush increased their price target on DICK’S Sporting Goods from $160.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Finally, The Goldman Sachs Group raised their price objective on DICK’S Sporting Goods from $157.00 to $247.00 and gave the company a “buy” rating in a report on Friday, March 15th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DICK’S Sporting Goods has a consensus rating of “Hold” and an average target price of $208.64.

About DICK’S Sporting Goods

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.