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

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 85.5% in the fourth quarter, according to its most recent Form 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 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Greenleaf Trust raised its position in DICK’S Sporting Goods by 3.0% in the 4th quarter. Greenleaf Trust now owns 1,721 shares of the sporting goods retailer’s stock worth $394,000 after purchasing an additional 50 shares during the last quarter. CIBC Asset Management Inc raised its position in DICK’S Sporting Goods by 1.7% in the 3rd quarter. CIBC Asset Management Inc now owns 3,232 shares of the sporting goods retailer’s stock worth $675,000 after purchasing an additional 54 shares during the last quarter. Atria Wealth Solutions Inc. raised its position in DICK’S Sporting Goods by 2.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer’s stock worth $577,000 after purchasing an additional 54 shares during the last quarter. Stonegate Investment Group LLC raised its position in DICK’S Sporting Goods by 2.9% in the 4th quarter. Stonegate Investment Group LLC now owns 2,066 shares of the sporting goods retailer’s stock worth $473,000 after purchasing an additional 58 shares during the last quarter. Finally, IFP Advisors Inc raised its position in DICK’S Sporting Goods by 9.4% in the 4th 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 last quarter. Institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Price Performance

Shares of NYSE DKS opened at $194.74 on Monday. The firm has a market cap of $15.87 billion, a PE ratio of 13.92, a PEG ratio of 2.47 and a beta of 1.53. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. DICK’S Sporting Goods, Inc. has a 1-year low of $182.84 and a 1-year high of $254.60. The company has a fifty day moving average price of $228.59 and a 200 day moving average price of $218.02.

DICK’S Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.15. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the prior year, the business earned $3.85 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Research analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $1.2125 per share. The ex-dividend date 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 annualized dividend and a yield of 2.49%. DICK’S Sporting Goods’s payout ratio is 31.45%.

DICK’S Sporting Goods announced that its Board of Directors has initiated a share buyback plan on Tuesday, March 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the sporting goods retailer to purchase up to 18.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $250.00 target price on shares of DICK’S Sporting Goods in a report on Friday. Guggenheim reaffirmed a “neutral” rating on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Argus lifted their target price on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Wedbush reaffirmed a “neutral” rating and set a $215.00 target price on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Finally, Citigroup reaffirmed a “neutral” rating and set a $220.00 target price (down previously from $230.00) on shares of DICK’S Sporting Goods in a report on Wednesday. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, DICK’S Sporting Goods currently has a consensus rating of “Moderate Buy” and an average price target of $245.50.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of the business’s stock in a transaction dated 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. The trade was a 1.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the sale, the executive vice president now directly owns 16,504 shares in the company, valued at approximately $3,762,746.96. The trade was a 23.25 % 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 three months. 32.03% of the stock is currently owned by corporate 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.