Zurcher Kantonalbank Zurich Cantonalbank Sells 64,751 Shares of DICK'S Sporting Goods, Inc. (NYSE:DKS)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 85.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,998 shares of the sporting goods retailer's stock after selling 64,751 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in DICK'S Sporting Goods were worth $2,517,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new position in DICK'S Sporting Goods during the 4th quarter worth $28,000. Brooklyn Investment Group bought a new position in DICK'S Sporting Goods during the 3rd quarter worth $27,000. Rialto Wealth Management LLC bought a new position in DICK'S Sporting Goods during the 4th quarter worth $30,000. Sound Income Strategies LLC increased its stake in DICK'S Sporting Goods by 590.0% during the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer's stock worth $32,000 after acquiring an additional 118 shares during the period. Finally, True Wealth Design LLC increased its stake in DICK'S Sporting Goods by 2,900.0% during the 3rd quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer's stock worth $31,000 after acquiring an additional 145 shares during the period. Institutional investors own 89.83% of the company's stock.

DICK'S Sporting Goods Trading Down 3.5 %

Shares of NYSE:DKS traded down $6.87 during midday trading on Thursday, reaching $191.25. The company's stock had a trading volume of 1,472,712 shares, compared to its average volume of 1,083,869. The firm has a market capitalization of $15.58 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 2.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The firm has a 50 day moving average price of $226.60 and a two-hundred day moving average price of $217.31. DICK'S Sporting Goods, Inc. has a fifty-two week low of $182.84 and a fifty-two week high of $254.60.

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DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its quarterly earnings data 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. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the business earned $3.85 EPS. The firm's revenue was up .5% compared to the same quarter last year. As a group, analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a yield of 2.54%. This is a positive change from DICK'S Sporting Goods's previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 28th. DICK'S Sporting Goods's payout ratio is presently 34.54%.

DICK'S Sporting Goods announced that its Board of Directors has approved a share 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 purchase up to 18.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have commented on DKS. Argus raised their price objective on DICK'S Sporting Goods from $255.00 to $280.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Loop Capital decreased 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. Stifel Nicolaus reduced their price objective 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. Robert W. Baird reduced their price objective on DICK'S Sporting Goods from $235.00 to $230.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 12th. Finally, Guggenheim restated a "neutral" rating on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $245.50.

Insider Activity at DICK'S Sporting Goods

In related news, Chairman Edward W. Stack sold 160,600 shares of the business's stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lawrence J. Schorr sold 7,333 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total value of $1,697,956.15. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 172,933 shares of company stock valued at $39,655,456 in the last three months. Corporate insiders own 32.03% of the company's stock.

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.