Bryce Point Capital LLC Acquires New Shares in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Bryce Point Capital LLC bought a new position in DICK’S Sporting Goods, Inc. (NYSE:DKS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,687 shares of the sporting goods retailer’s stock, valued at approximately $844,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of DICK’S Sporting Goods by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,057,793 shares of the sporting goods retailer’s stock valued at $241,660,000 after purchasing an additional 15,011 shares during the period. National Bank of Canada FI boosted its position in DICK’S Sporting Goods by 7.3% during the 4th quarter. National Bank of Canada FI now owns 42,376 shares of the sporting goods retailer’s stock worth $9,697,000 after acquiring an additional 2,871 shares during the period. Wellington Management Group LLP bought a new position in shares of DICK’S Sporting Goods in the fourth quarter worth $125,285,000. O Shaughnessy Asset Management LLC increased its holdings in shares of DICK’S Sporting Goods by 1.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,929 shares of the sporting goods retailer’s stock valued at $1,586,000 after purchasing an additional 77 shares during the period. Finally, Brandywine Global Investment Management LLC raised its stake in shares of DICK’S Sporting Goods by 151.8% during the fourth quarter. Brandywine Global Investment Management LLC now owns 66,185 shares of the sporting goods retailer’s stock valued at $15,146,000 after purchasing an additional 39,900 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

Insider Activity

In other DICK’S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $229.25, for a total value 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 $1,917,017,844. The trade was a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the transaction, the executive vice president now owns 16,504 shares in the company, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. 32.03% of the stock is currently owned by corporate insiders.

DICK’S Sporting Goods Stock Performance

Shares of DICK’S Sporting Goods stock opened at $211.53 on Thursday. 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 quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The stock has a market cap of $17.23 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. The business has a fifty day simple moving average of $221.61 and a 200-day simple moving average of $216.45.

DICK’S Sporting Goods (NYSE:DKS) last released its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.15. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.85 EPS. On average, sell-side analysts anticipate 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 approved a stock buyback program 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 repurchase up to 18.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $1.2125 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.29%. 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 (DPR) is 34.54%.

Wall Street Analyst Weigh In

DKS has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price objective on shares of DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating for the company in a report on Wednesday, March 12th. DA Davidson decreased 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 note on Wednesday, March 12th. Argus boosted their price objective on DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Morgan Stanley raised their target price on DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Finally, Loop Capital dropped their price target on shares of DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating on the stock in a research report on Thursday, March 13th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $245.50.

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.