Fmr LLC Cuts Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Fmr LLC trimmed its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 26.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,390,211 shares of the sporting goods retailer’s stock after selling 2,264,936 shares during the period. Fmr LLC owned approximately 7.84% of DICK’S Sporting Goods worth $1,462,336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Wave Wealth Advisors LLC purchased a new stake in DICK’S Sporting Goods during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC purchased a new position in shares of DICK’S Sporting Goods in the 4th quarter valued at about $30,000. Sound Income Strategies LLC grew its position in shares of DICK’S Sporting Goods by 590.0% during the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock worth $32,000 after buying an additional 118 shares in the last quarter. Promus Capital LLC acquired a new stake in DICK’S Sporting Goods in the fourth quarter valued at approximately $48,000. Finally, SBI Securities Co. Ltd. purchased a new position in DICK’S Sporting Goods in the fourth quarter worth approximately $55,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

DICK’S Sporting Goods Trading Down 1.3 %

Shares of DKS stock opened at $182.63 on Monday. DICK’S Sporting Goods, Inc. has a twelve month low of $168.22 and a twelve month high of $254.60. 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 business’s 50 day moving average is $219.03 and its two-hundred day moving average is $216.07. The company has a market capitalization of $14.58 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 2.47 and a beta of 1.32.

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

DICK’S Sporting Goods announced that its board has approved a stock repurchase plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Friday, March 28th. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio is currently 34.54%.

Insider Transactions at DICK’S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $227.99, for a total value of $1,139,950.00. Following the completion of the transaction, the executive vice president now owns 16,504 shares in the company, valued at $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 32.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. TD Cowen raised their price objective on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Truist Financial set a $245.00 price target on DICK’S Sporting Goods in a report on Tuesday, March 11th. Stifel Nicolaus lowered their price objective on DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating for the company in a research report on Wednesday, March 12th. Robert W. Baird cut their target price on DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $215.00 price target on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.50.

DICK’S Sporting Goods 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.