Golden State Wealth Management LLC Has $43,000 Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Golden State Wealth Management LLC raised its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 1,435.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 215 shares of the sporting goods retailer’s stock after purchasing an additional 201 shares during the period. Golden State Wealth Management LLC’s holdings in DICK’S Sporting Goods were worth $43,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in DKS. IFP Advisors Inc raised its holdings in 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. Oppenheimer & Co. Inc. raised its stake in DICK’S Sporting Goods by 24.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 7,810 shares of the sporting goods retailer’s stock worth $1,787,000 after buying an additional 1,532 shares during the period. Smartleaf Asset Management LLC raised its stake in DICK’S Sporting Goods by 28.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 365 shares of the sporting goods retailer’s stock worth $85,000 after buying an additional 80 shares during the period. Jones Financial Companies Lllp raised its stake in DICK’S Sporting Goods by 15.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,144 shares of the sporting goods retailer’s stock worth $491,000 after buying an additional 281 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of DICK’S Sporting Goods during the fourth quarter worth about $55,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Lauren R. Hobart sold 40,166 shares of DICK’S Sporting Goods stock in a transaction on Friday, June 27th. The shares were sold at an average price of $204.58, for a total transaction of $8,217,160.28. Following the completion of the transaction, the chief executive officer owned 299,990 shares of the company’s stock, valued at $61,371,954.20. This trade represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Julie Lodge-Jarrett sold 3,541 shares of DICK’S Sporting Goods stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $187.00, for a total value of $662,167.00. Following the completion of the transaction, the executive vice president directly owned 19,165 shares of the company’s stock, valued at approximately $3,583,855. This trade represents a 15.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,733 shares of company stock worth $9,088,118. 32.55% of the stock is currently owned by insiders.

DICK’S Sporting Goods Trading Up 4.2%

Shares of DICK’S Sporting Goods stock opened at $206.06 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.47 and a current ratio of 1.62. The stock has a market cap of $16.50 billion, a PE ratio of 14.74, a PEG ratio of 2.82 and a beta of 1.07. DICK’S Sporting Goods, Inc. has a 52-week low of $166.37 and a 52-week high of $254.60. The firm has a 50-day moving average of $184.74 and a 200-day moving average of $205.74.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 EPS for the quarter, hitting analysts’ consensus estimates of $3.37. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.12 billion. DICK’S Sporting Goods had a net margin of 8.49% and a return on equity of 38.06%. As a group, sell-side analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods declared that its board has authorized a stock buyback program on Tuesday, March 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the sporting goods retailer to purchase up to 18.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

DICK’S Sporting Goods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $1.2125 per share. The ex-dividend date was Friday, June 13th. This represents a $4.85 annualized dividend and a yield of 2.35%. DICK’S Sporting Goods’s payout ratio is 34.69%.

Analysts Set New Price Targets

DKS has been the topic of a number of research analyst reports. Wall Street Zen raised DICK’S Sporting Goods from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Wedbush restated a “neutral” rating and set a $215.00 target price on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Stifel Nicolaus dropped their price objective on shares of DICK’S Sporting Goods from $226.00 to $192.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. DA Davidson restated a “buy” rating and set a $230.00 price objective on shares of DICK’S Sporting Goods in a report on Friday, June 27th. Finally, Bank of America dropped their price target on DICK’S Sporting Goods from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Tuesday, June 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, DICK’S Sporting Goods presently has a consensus rating of “Hold” and a consensus price target of $219.56.

DICK’S Sporting Goods Company 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.