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

Modern Wealth Management LLC purchased a new stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,423 shares of the sporting goods retailer's stock, valued at approximately $337,000.

Several other institutional investors have also added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new position in shares of DICK'S Sporting Goods during the fourth quarter valued at approximately $28,000. Brooklyn Investment Group purchased a new position in DICK'S Sporting Goods during the 3rd quarter valued at $27,000. Rialto Wealth Management LLC purchased a new position in DICK'S Sporting Goods during the 4th quarter valued at $30,000. Sound Income Strategies LLC raised its holdings in DICK'S Sporting Goods by 590.0% in the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer's stock worth $32,000 after purchasing an additional 118 shares in the last quarter. Finally, True Wealth Design LLC lifted its position in shares of DICK'S Sporting Goods by 2,900.0% in the 3rd quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer's stock worth $31,000 after purchasing an additional 145 shares during the period. Hedge funds and other institutional investors own 89.83% of the company's stock.

DICK'S Sporting Goods Stock Up 2.5 %

Shares of DICK'S Sporting Goods stock traded up $4.94 on Tuesday, reaching $206.50. The company's stock had a trading volume of 1,165,217 shares, compared to its average volume of 1,115,043. DICK'S Sporting Goods, Inc. has a 52 week low of $182.84 and a 52 week high of $254.60. The firm's fifty day simple moving average is $222.12 and its two-hundred day simple moving average is $216.49. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $16.82 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 2.47 and a beta of 1.53.

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DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping the consensus estimate of $3.47 by $0.15. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate 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 for the quarter was up .5% on a year-over-year basis. During the same period last year, the company earned $3.85 EPS. Equities analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $1.2125 per share. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a yield of 2.35%. DICK'S Sporting Goods's dividend payout ratio is 34.54%.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DKS. Wedbush reissued 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. Guggenheim reissued a "neutral" rating on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Stifel Nicolaus dropped their price target on 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. Loop Capital reduced their price target on DICK'S Sporting Goods from $240.00 to $195.00 and set a "hold" rating on the stock in a research note on Thursday, March 13th. Finally, Morgan Stanley raised 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. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, DICK'S Sporting Goods currently has a consensus rating of "Moderate Buy" and an average price target of $245.50.

Insider Buying and Selling

In other news, Director Lawrence J. Schorr sold 7,333 shares of the stock in a transaction on 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 transaction, the director now directly owns 50,997 shares of the company's stock, valued at $11,808,355.35. This represents a 12.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Edward W. Stack sold 160,600 shares of DICK'S Sporting Goods stock in a transaction on Monday, January 6th. The stock was sold at an average price of $229.25, for a total value of $36,817,550.00. Following the completion of the sale, the chairman now directly owns 8,362,128 shares of the company's stock, valued at $1,917,017,844. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is owned by insiders.

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.