Wesbanco Bank Inc. Takes $686,000 Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Wesbanco Bank Inc. acquired a new stake in DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) during the fourth quarter, according to its recent 13F filing with the Securities and Exchange Commission (SEC). The company bought 5,700 shares of the sporting goods retailer for approximately $686,000.

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Other hedge funds and other institutional investors have also recently changed their positions in the company. Comerica Bank increased its stake in DICK’S Sporting Goods by 52.4% in the third quarter. Comerica Bank now owns 42,024 shares of the sporting goods retailer, valued at $4,804,000, after buying an additional 14,456 shares last quarter. Bridgewater Associates LP increased its position in DICK’S Sporting Goods by 21.1% in the second quarter. Bridgewater Associates LP now owns 10,104 shares of the sporting goods retailer, valued at $762,000, after purchasing an additional 1,761 shares during the period. Truist Financial Corp increased its position in DICK’S Sporting Goods by 46.6% in the third quarter. Truist Financial Corp now owns 34,060 shares of the sporting goods retailer, valued at $3,565,000, after purchasing an additional 10,834 shares during the period. Fragasso Group Inc. acquired a new interest in DICK’S Sporting Goods valued at approximately $294,000 during the second quarter. Finally, Eqis Capital Management Inc. increased its position in DICK’S Sporting Goods by 5.3% in the third quarter. Eqis Capital Management Inc. now owns 18,423 shares of the sporting goods retailer, valued at $1,928,000, after purchasing an additional 926 shares during the period. 75.08% of the shares are currently owned by institutional investors and hedge funds.

DICK’S sporting goods retail down 1.0%

NYSE DKS opened at $138.42 on Monday. The stock has a market cap of $10.96 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.91, and a beta of 1.41. The 50-day moving average price of the stock is $133.78 and the 200-day moving average price is $120.92. The company has a debt to equity ratio of 0.61, a quick ratio of 0.81 and a current ratio of 1.88. DICK’S Sporting Goods, Inc. has a 52-week low of $63.45 and a 52-week high of $152.61.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last reported its earnings results on Tuesday, March 7th. The sporting goods retailer reported $2.93 EPS for the quarter, beating the consensus estimate of $2.86 by $0.07. The company made $3.60 billion in revenue for the quarter, compared to analysts’ expectations of $3.45 billion. DICK’S Sporting Goods had a return on equity of 45.97% and a net margin of 8.43%. The company’s quarterly revenue increased 7.3% compared to the same quarter last year. In the same quarter last year, the company posted $3.64 per share. As a group, analysts expect Dick’s Sporting Goods, Inc. to report earnings per share of $13.48 for the current fiscal year.

DICK’S Sporting Goods increases dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17 will receive a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday March 16th. That equates to a dividend of $4.00 on an annualized basis and a dividend yield of 2.89%. This is an increase from DICK’S Sporting Goods’ prior quarterly dividend of $0.49. The payout ratio of DICK’S Sporting Goods is currently 37.14%.

Analyst upgrades and downgrades

A number of brokerage houses have recently commented on DKS. TD Cowen raised its target price on DICK’S Sporting Goods to $175.00 from $166.00 and gave the stock an outperform rating in a research report on Wednesday, March 8th. Barclays raised its target price on DICK’S Sporting Goods to $174.00 from $139.00 and ranked the stock as “overweight” in a research report on Wednesday, March 8. Gordon Haskett raised his target price on DICK’S Sporting Goods from $135.00 to $170.00 in a research note on Tuesday, March 7th. UBS Group raised its target price on DICK’S Sporting Goods to $130.00 from $120.00 and gave the stock a “neutral” rating in a research report on Friday, January 6. Finally, Stifel Nicolaus increased his target price on DICK’S Sporting Goods to $157.00 from $112.00 and gave the stock a “hold” rating in a research report on Wednesday, March 8th. Ten investment analysts have rated the stock with a hold and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $156.61.

Insider Transactions at DICK’S Sporting Goods

In other news, CEO Lauren R. Hobart sold 83,392 shares of the company’s stock in a transaction that took place on Monday, March 13th. The stock sold at an average price of $145.21 for a total transaction of $12,109,352.32. Following the sale, the Chief Executive Officer now owns 233,269 shares of the Company, valued at approximately $33,872,991.49. The sale was disclosed in a document filed with the SEC, which is available on the SEC’s website. In other news, CEO Lauren R. Hobart sold 83,392 shares of the company’s stock in a transaction that took place on Monday, March 13th. The stock sold at an average price of $145.21 for a total transaction of $12,109,352.32. Following the sale, the Chief Executive Officer now owns 233,269 shares of the Company, valued at approximately $33,872,991.49. The sale was disclosed in a document filed with the SEC, which is available on the SEC’s website. In addition, Chairman Edward W. Stack sold 159,461 shares of the company’s stock in a transaction that took place on Monday, March 13th. The stock sold at an average price of $144.38 for a total value of $23,022,979.18. Following the sale, the Chairman now owns 10,953,633 shares of the Company, valued at approximately $1,581,485,532.54. The disclosure for this sale can be found here. Company insiders own 32.83% of the company’s shares.

DICK’S Sporting Goods Company Profile

(received rating)

Dick’s Sporting Goods, Inc retails an extensive line of authentic athletic equipment, apparel, footwear and accessories. It also offers its products online and through mobile applications. The company was founded in 1948 by Richard T. Stack and is headquartered in Coraopolis, PA.

Selected items

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