DnB Asset Management AS Acquires 165 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

DnB Asset Management AS lifted its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 1.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,553 shares of the sporting goods retailer’s stock after purchasing an additional 165 shares during the quarter. DnB Asset Management AS’s holdings in DICK’S Sporting Goods were worth $2,415,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. New Wave Wealth Advisors LLC acquired a new position in shares of DICK’S Sporting Goods in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new stake in DICK’S Sporting Goods in the 4th quarter valued at $30,000. Sound Income Strategies LLC boosted its stake in DICK’S Sporting Goods by 590.0% in the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock worth $32,000 after purchasing an additional 118 shares during the period. Promus Capital LLC bought a new position in DICK’S Sporting Goods during the 4th quarter worth about $48,000. Finally, SBI Securities Co. Ltd. bought a new position in DICK’S Sporting Goods during the 4th quarter worth about $55,000. 89.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DKS. Guggenheim reaffirmed a “neutral” rating on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. TD Cowen upped their price target on DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Robert W. Baird lowered their price objective on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Argus boosted their price objective on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Finally, Loop Capital decreased their target price on shares of DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating for the company in a research report on Thursday, March 13th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $245.50.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the transaction, the director now owns 50,997 shares in the company, valued at $11,808,355.35. This trade represents a 12.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the sale, the executive vice president now directly owns 16,504 shares of the company’s stock, valued at approximately $3,762,746.96. The trade was a 23.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 172,933 shares of company stock worth $39,655,456 over the last three months. Insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Stock Up 2.5 %

DKS stock opened at $206.50 on Wednesday. DICK’S Sporting Goods, Inc. has a 1-year low of $182.84 and a 1-year high of $254.60. The business’s 50 day simple moving average is $222.12 and its 200 day simple moving average is $216.49. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $16.82 billion, a PE ratio of 14.76, a PEG ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.15. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted $3.85 earnings per share. As a group, research analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $1.2125 dividend. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a yield of 2.35%. The ex-dividend date is Friday, March 28th. DICK’S Sporting Goods’s dividend payout ratio is currently 34.54%.

DICK’S Sporting Goods announced that its board has initiated a share buyback plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership 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.