Glenview Trust co Makes New $1.08 Million Investment in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Glenview Trust co purchased a new position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,711 shares of the sporting goods retailer's stock, valued at approximately $1,078,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Marion Wealth Management acquired a new stake in shares of DICK'S Sporting Goods in the fourth quarter valued at approximately $545,000. Strategy Asset Managers LLC purchased a new stake in DICK'S Sporting Goods in the 3rd quarter valued at $4,325,000. Argus Investors Counsel Inc. acquired a new stake in shares of DICK'S Sporting Goods in the 4th quarter worth $257,000. Landscape Capital Management L.L.C. raised its holdings in shares of DICK'S Sporting Goods by 402.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 15,344 shares of the sporting goods retailer's stock worth $3,202,000 after acquiring an additional 12,293 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in shares of DICK'S Sporting Goods by 78.2% during the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,495 shares of the sporting goods retailer's stock worth $2,631,000 after acquiring an additional 5,046 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Edward W. Stack sold 160,600 shares of the firm's stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the company's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $227.99, for a total value of $1,139,950.00. Following the completion of the transaction, the executive vice president now directly owns 16,504 shares of the company's stock, valued at $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 172,933 shares of company stock worth $39,655,456 in the last 90 days. Corporate insiders own 32.03% of the company's stock.

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DICK'S Sporting Goods Stock Up 2.1 %

DKS stock traded up $3.95 during midday trading on Friday, hitting $195.30. The company's stock had a trading volume of 3,647,152 shares, compared to its average volume of 1,090,969. The firm has a 50-day simple moving average of $225.77 and a 200-day simple moving average of $217.13. The firm has a market capitalization of $15.91 billion, a P/E ratio of 13.96, a PEG ratio of 2.47 and a beta of 1.53. 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, Inc. has a 52-week low of $182.84 and a 52-week high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its earnings results 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 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 revenue was up .5% compared to the same quarter last year. During the same period last year, the business posted $3.85 earnings per share. As a group, equities analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK'S Sporting Goods announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the sporting goods retailer to buy up to 18.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

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 $1.2125 dividend. The ex-dividend date is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a yield of 2.48%. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.10. DICK'S Sporting Goods's payout ratio is currently 34.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Guggenheim reissued a "neutral" rating on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Loop Capital dropped their price target on shares of DICK'S Sporting Goods from $240.00 to $195.00 and set a "hold" rating for the company in a research note on Thursday, March 13th. DA Davidson cut 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 report on Wednesday, March 12th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $250.00 price target on shares of DICK'S Sporting Goods in a research report on Friday, March 14th. Finally, Morgan Stanley increased their price objective on DICK'S Sporting Goods from $245.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $245.50.

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.