Modern Wealth Management LLC Takes $337,000 Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Modern Wealth Management LLC acquired a new position in DICK’S Sporting Goods, Inc. (NYSE:DKS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,423 shares of the sporting goods retailer’s stock, valued at approximately $337,000.

A number of other institutional investors also recently bought and sold shares of the stock. Greenleaf Trust increased its position 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 worth $394,000 after buying an additional 50 shares in the last quarter. Independent Advisor Alliance increased its holdings in 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 worth $235,000 after acquiring an additional 53 shares in the last quarter. Atria Wealth Solutions Inc. raised its stake in 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 worth $577,000 after acquiring an additional 54 shares during the period. Stonegate Investment Group LLC lifted its holdings 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 valued at $473,000 after purchasing an additional 58 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of 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.

DICK’S Sporting Goods Trading Up 1.6 %

Shares of DKS stock opened at $210.14 on Friday. The company has a market cap of $17.12 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods, Inc. has a 1 year low of $182.84 and a 1 year high of $254.60. The stock’s 50 day simple moving average is $223.71 and its two-hundred day simple moving average is $216.54. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56.

DICK’S Sporting Goods (NYSE:DKS) last released 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 company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. DICK’S Sporting Goods’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.85 EPS. Research analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $1.2125 per share. The ex-dividend date of this dividend 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 dividend yield of 2.31%. DICK’S Sporting Goods’s 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 authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. DA Davidson decreased 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 research report on Wednesday, March 12th. Morgan Stanley boosted their price objective on DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Robert W. Baird cut their target price on DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Telsey Advisory Group reissued an “outperform” rating and set a $250.00 target price on shares of DICK’S Sporting Goods in a research note on Friday, March 14th. Finally, TD Cowen upped their price target on 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. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $245.50.

Insider Buying and Selling

In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction on 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 sale, the executive vice president now owns 16,504 shares in the company, valued at $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the business’s stock in a transaction 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 of the company’s stock, 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 have sold 172,933 shares of company stock valued at $39,655,456 in the last ninety days. 32.03% of the stock is owned by company 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.