Intech Investment Management LLC Acquires 28,662 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Intech Investment Management LLC grew its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 125.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,538 shares of the sporting goods retailer’s stock after buying an additional 28,662 shares during the period. Intech Investment Management LLC’s holdings in DICK’S Sporting Goods were worth $11,794,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Wealthfront Advisers LLC bought a new stake in shares of DICK’S Sporting Goods during the 4th quarter valued at $1,893,210,000. State Street Corp raised its position in shares of DICK’S Sporting Goods by 1.2% in the 3rd quarter. State Street Corp now owns 2,259,133 shares of the sporting goods retailer’s stock worth $473,945,000 after purchasing an additional 27,155 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of DICK’S Sporting Goods by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,866,177 shares of the sporting goods retailer’s stock worth $427,056,000 after purchasing an additional 77,357 shares during the last quarter. Geode Capital Management LLC raised its position in shares of DICK’S Sporting Goods by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,042,782 shares of the sporting goods retailer’s stock worth $217,169,000 after purchasing an additional 10,640 shares during the last quarter. Finally, KBC Group NV raised its position in shares of DICK’S Sporting Goods by 86.8% in the 4th quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer’s stock worth $107,043,000 after purchasing an additional 217,390 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

Insider Activity

In related news, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the completion of the sale, the chairman now directly owns 8,362,128 shares of the company’s stock, valued at approximately $1,917,017,844. This trade represents a 1.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lawrence J. Schorr sold 7,333 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the sale, the director now directly owns 50,997 shares of the company’s stock, valued at approximately $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 172,933 shares of company stock worth $39,655,456 over the last ninety days. 32.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. DA Davidson lowered their price target on DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Morgan Stanley lifted their price target on DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. TD Cowen lifted 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. Guggenheim reissued a “neutral” rating on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Finally, Loop Capital reduced their price target 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 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $245.50.

DICK’S Sporting Goods Stock Performance

Shares of DKS stock opened at $197.60 on Tuesday. DICK’S Sporting Goods, Inc. has a 12 month low of $182.84 and a 12 month high of $254.60. The company has a market cap of $16.10 billion, a P/E ratio of 14.12, a PEG ratio of 2.47 and a beta of 1.53. 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 fifty day moving average price of $227.97 and a 200 day moving average price of $217.75.

DICK’S Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.15. The business 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 business’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.85 earnings per share. Sell-side analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods announced that its board has approved a share repurchase program on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $1.2125 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a dividend yield of 2.45%. DICK’S Sporting Goods’s dividend payout ratio is currently 34.54%.

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.