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

Montecito Bank & Trust trimmed its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 5.9% during the first quarter, Holdings Channel reports. The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Janney Montgomery Scott LLC lifted its position in DICK’S Sporting Goods by 13.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 20,859 shares of the sporting goods retailer’s stock valued at $4,204,000 after acquiring an additional 2,529 shares in the last quarter. North Star Investment Management Corp. lifted its holdings in shares of DICK’S Sporting Goods by 15.1% in the first quarter. North Star Investment Management Corp. now owns 633 shares of the sporting goods retailer’s stock valued at $128,000 after purchasing an additional 83 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of DICK’S Sporting Goods by 109.4% during the first quarter. Sound Income Strategies LLC now owns 289 shares of the sporting goods retailer’s stock valued at $58,000 after buying an additional 151 shares during the last quarter. Ritholtz Wealth Management boosted its position in shares of DICK’S Sporting Goods by 37.1% during the first quarter. Ritholtz Wealth Management now owns 1,201 shares of the sporting goods retailer’s stock valued at $242,000 after buying an additional 325 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in DICK’S Sporting Goods by 255.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,434 shares of the sporting goods retailer’s stock worth $6,940,000 after buying an additional 24,746 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

DICK’S Sporting Goods Stock Up 1.1%

Shares of NYSE DKS opened at $178.66 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The stock has a market capitalization of $14.30 billion, a PE ratio of 12.77, a P/E/G ratio of 2.47 and a beta of 1.07. DICK’S Sporting Goods, Inc. has a one year low of $166.37 and a one year high of $254.60. The business’s fifty day moving average price is $184.97 and its 200-day moving average price is $207.97.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Wednesday, May 28th. The sporting goods retailer reported $3.37 EPS for the quarter, meeting the consensus estimate of $3.37. The business 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 research analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

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

DICK’S Sporting Goods Dividend Announcement

The firm 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 dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, June 13th. DICK’S Sporting Goods’s payout ratio is currently 34.69%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays increased their price target on DICK’S Sporting Goods from $217.00 to $232.00 and gave the company an “overweight” rating in a research report on Thursday, May 29th. TD Cowen downgraded shares of DICK’S Sporting Goods from a “buy” rating to a “hold” rating and set a $216.00 target price for the company. in a report on Thursday, May 15th. UBS Group dropped their price target on shares of DICK’S Sporting Goods from $260.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Citigroup restated a “neutral” rating on shares of DICK’S Sporting Goods in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of DICK’S Sporting Goods from $224.00 to $195.00 and set a “neutral” rating for the company in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, DICK’S Sporting Goods has a consensus rating of “Hold” and an average target price of $220.11.

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.