Montecito Bank & Trust Has $338,000 Stock Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Montecito Bank & Trust reduced its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 5.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,675 shares of the sporting goods retailer’s stock after selling 105 shares during the quarter. Montecito Bank & Trust’s holdings in DICK’S Sporting Goods were worth $338,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of DKS. Wealthfront Advisers LLC acquired a new position in DICK’S Sporting Goods during the fourth quarter worth about $1,893,210,000. Norges Bank bought a new stake in shares of DICK’S Sporting Goods during the 4th quarter valued at approximately $221,693,000. Wellington Management Group LLP acquired a new position in DICK’S Sporting Goods during the 4th quarter worth approximately $125,285,000. Junto Capital Management LP bought a new position in DICK’S Sporting Goods in the 4th quarter valued at approximately $89,351,000. Finally, GAMMA Investing LLC boosted its position in DICK’S Sporting Goods by 24,140.8% in the first quarter. GAMMA Investing LLC now owns 291,859 shares of the sporting goods retailer’s stock valued at $58,827,000 after buying an additional 290,655 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on DKS shares. Truist Financial set a $230.00 price target on shares of DICK’S Sporting Goods in a report on Wednesday, May 28th. Stifel Nicolaus dropped their target price on DICK’S Sporting Goods from $226.00 to $192.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Telsey Advisory Group reissued an “outperform” rating and set a $220.00 price target on shares of DICK’S Sporting Goods in a research note on Wednesday, May 28th. DA Davidson reduced their price target on DICK’S Sporting Goods from $273.00 to $230.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Finally, Wedbush reiterated a “neutral” rating and issued a $215.00 price objective on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, DICK’S Sporting Goods currently has a consensus rating of “Hold” and an average target price of $220.11.

DICK’S Sporting Goods Price Performance

DICK’S Sporting Goods stock opened at $178.66 on Tuesday. The stock has a market capitalization of $14.30 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 2.47 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 company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The stock’s 50 day moving average price is $184.97 and its two-hundred day moving average price is $207.97.

DICK’S Sporting Goods (NYSE:DKS) last released its earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.37. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.12 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. On average, equities analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, June 13th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is currently 34.69%.

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

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.