Mitsubishi UFJ Trust & Banking Corp Raises Stock Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,427 shares of the sporting goods retailer’s stock after acquiring an additional 1,630 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.10% of DICK’S Sporting Goods worth $19,091,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Wealthfront Advisers LLC bought a new position in DICK’S Sporting Goods during the fourth quarter valued at approximately $1,893,210,000. Holocene Advisors LP bought a new position in shares of DICK’S Sporting Goods during the 3rd quarter valued at $70,562,000. KBC Group NV boosted its stake 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 buying an additional 217,390 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of DICK’S Sporting Goods by 1,718.2% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 200,000 shares of the sporting goods retailer’s stock worth $41,740,000 after acquiring an additional 189,000 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of DICK’S Sporting Goods in the third quarter worth $32,093,000. 89.83% of the stock is currently owned by institutional investors.

Insider Transactions at DICK’S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $227.99, for a total value 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. This represents a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $229.25, for a total value of $36,817,550.00. Following the sale, the chairman now directly owns 8,362,128 shares of the company’s stock, valued at approximately $1,917,017,844. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,933 shares of company stock valued at $39,655,456. 32.03% of the stock is currently owned by corporate insiders.

DICK’S Sporting Goods Trading Up 1.6 %

DKS opened at $210.14 on Friday. 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 company’s 50 day simple moving average is $223.71 and its two-hundred day simple moving average is $216.54. The firm has a market capitalization of $17.12 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods, Inc. has a 1-year low of $182.84 and a 1-year high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last issued 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 firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the firm earned $3.85 EPS. DICK’S Sporting Goods’s revenue was up .5% on a year-over-year basis. Analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods declared that its board has authorized a share repurchase 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 reacquire up to 18.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $1.2125 per share. 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 dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, March 28th. DICK’S Sporting Goods’s payout ratio is 34.54%.

Analysts Set New Price Targets

Several brokerages have issued reports on DKS. Truist Financial set a $245.00 target price on DICK’S Sporting Goods in a research report on Tuesday, March 11th. Argus raised 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 report on Wednesday, January 29th. Loop Capital reduced 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 report on Thursday, March 13th. Stifel Nicolaus dropped their price target on shares of DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating on the stock in a research note on Wednesday, March 12th. Finally, DA Davidson reduced their price objective on DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.