Chase Investment Counsel Corp Boosts Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Chase Investment Counsel Corp grew its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 13.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,800 shares of the sporting goods retailer’s stock after acquiring an additional 900 shares during the quarter. Chase Investment Counsel Corp’s holdings in DICK’S Sporting Goods were worth $1,146,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in DICK’S Sporting Goods by 280.0% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 190 shares of the sporting goods retailer’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Blue Trust Inc. grew its position in shares of DICK’S Sporting Goods by 236.8% in the 4th quarter. Blue Trust Inc. now owns 293 shares of the sporting goods retailer’s stock worth $43,000 after buying an additional 206 shares during the last quarter. Capital Analysts LLC increased its position in shares of DICK’S Sporting Goods by 132.5% during the fourth quarter. Capital Analysts LLC now owns 451 shares of the sporting goods retailer’s stock worth $66,000 after purchasing an additional 257 shares in the last quarter. Allworth Financial LP increased its position in DICK’S Sporting Goods by 2,505.3% during the 4th quarter. Allworth Financial LP now owns 495 shares of the sporting goods retailer’s stock valued at $73,000 after buying an additional 476 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of DICK’S Sporting Goods by 36.0% in the 3rd quarter. Fifth Third Bancorp now owns 688 shares of the sporting goods retailer’s stock valued at $75,000 after purchasing an additional 182 shares during the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Lauren R. Hobart sold 40,167 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $223.95, for a total value of $8,995,399.65. Following the sale, the chief executive officer now directly owns 280,136 shares of the company’s stock, valued at approximately $62,736,457.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Navdeep Gupta sold 16,211 shares of DICK’S Sporting Goods stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $222.00, for a total value of $3,598,842.00. Following the transaction, the chief financial officer now owns 87,628 shares in the company, valued at $19,453,416. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lauren R. Hobart sold 40,167 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $223.95, for a total value of $8,995,399.65. Following the sale, the chief executive officer now owns 280,136 shares of the company’s stock, valued at $62,736,457.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,763 shares of company stock worth $46,483,438. 30.79% of the stock is owned by corporate insiders.

DICK’S Sporting Goods Price Performance

NYSE:DKS traded down $3.40 during trading hours on Monday, hitting $203.72. The company’s stock had a trading volume of 309,582 shares, compared to its average volume of 1,155,604. The company has a market capitalization of $16.80 billion, a PE ratio of 17.00, a PEG ratio of 2.51 and a beta of 1.58. DICK’S Sporting Goods, Inc. has a 52-week low of $100.98 and a 52-week high of $225.79. The business’s 50-day moving average is $198.51 and its two-hundred day moving average is $156.96. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.74 and a current ratio of 1.78.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Thursday, March 14th. The sporting goods retailer reported $3.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.35 by $0.50. DICK’S Sporting Goods had a net margin of 8.06% and a return on equity of 42.99%. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter last year, the firm posted $2.93 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.26 EPS for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 2.16%. DICK’S Sporting Goods’s payout ratio is currently 36.12%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on DKS shares. Oppenheimer raised their price target on shares of DICK’S Sporting Goods from $190.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. TD Cowen increased their price objective on shares of DICK’S Sporting Goods from $177.00 to $226.00 and gave the stock an “outperform” rating in a research note on Thursday, March 14th. DA Davidson boosted their target price on shares of DICK’S Sporting Goods from $183.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Wells Fargo & Company upped their price objective on DICK’S Sporting Goods from $175.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, March 15th. Finally, Morgan Stanley increased their target price on shares of DICK’S Sporting Goods from $160.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $208.64.

DICK’S Sporting Goods Profile

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.