New York State Common Retirement Fund Reduces Stock Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

New York State Common Retirement Fund cut its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 10.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,734 shares of the sporting goods retailer’s stock after selling 5,322 shares during the quarter. New York State Common Retirement Fund owned about 0.06% of DICK’S Sporting Goods worth $7,015,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. grew its position in shares of DICK’S Sporting Goods by 236.8% during the 4th quarter. Blue Trust Inc. now owns 293 shares of the sporting goods retailer’s stock valued at $43,000 after purchasing an additional 206 shares in the last quarter. Capital Analysts LLC raised its stake in DICK’S Sporting Goods by 132.5% in the fourth quarter. Capital Analysts LLC now owns 451 shares of the sporting goods retailer’s stock valued at $66,000 after purchasing an additional 257 shares in the last quarter. Allworth Financial LP lifted its position in DICK’S Sporting Goods by 2,505.3% during the fourth quarter. Allworth Financial LP now owns 495 shares of the sporting goods retailer’s stock valued at $73,000 after purchasing an additional 476 shares during the last quarter. Signaturefd LLC grew its stake in DICK’S Sporting Goods by 30.5% in the 4th quarter. Signaturefd LLC now owns 638 shares of the sporting goods retailer’s stock worth $94,000 after buying an additional 149 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of DICK’S Sporting Goods by 36.0% in the 3rd quarter. Fifth Third Bancorp now owns 688 shares of the sporting goods retailer’s stock worth $75,000 after buying an additional 182 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on DKS. Wedbush upped their target price on shares of DICK’S Sporting Goods from $160.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. DA Davidson increased their price target on shares of DICK’S Sporting Goods from $183.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Gordon Haskett boosted their price objective on shares of DICK’S Sporting Goods from $190.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Williams Trading raised shares of DICK’S Sporting Goods from a “hold” rating to a “buy” rating and increased their target price for the company from $154.00 to $235.00 in a report on Thursday, March 14th. Finally, Jefferies Financial Group began coverage on shares of DICK’S Sporting Goods in a research note on Friday, April 12th. They issued a “hold” rating and a $211.00 price target for the company. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, DICK’S Sporting Goods currently has an average rating of “Hold” and a consensus price target of $208.64.

DICK’S Sporting Goods Price Performance

Shares of NYSE DKS opened at $202.72 on Friday. DICK’S Sporting Goods, Inc. has a 1 year low of $100.98 and a 1 year high of $225.79. The stock has a market capitalization of $16.71 billion, a P/E ratio of 16.64, a P/E/G ratio of 2.40 and a beta of 1.61. The company’s 50-day moving average is $201.17 and its 200 day moving average is $158.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.78 and a quick ratio of 0.74.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Thursday, March 14th. The sporting goods retailer reported $3.85 earnings per share for the quarter, topping analysts’ consensus estimates of $3.35 by $0.50. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. DICK’S Sporting Goods had a return on equity of 42.99% and a net margin of 8.06%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.93 EPS. On average, sell-side analysts expect that DICK’S Sporting Goods, Inc. will post 13.26 earnings per share for the current year.

DICK’S Sporting Goods Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.00. DICK’S Sporting Goods’s payout ratio is 36.12%.

Insider Transactions at DICK’S Sporting Goods

In related news, CEO Lauren R. Hobart sold 40,167 shares of DICK’S Sporting Goods stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $223.95, for a total transaction of $8,995,399.65. Following the completion of the transaction, the chief executive officer now directly owns 280,136 shares of the company’s stock, valued at approximately $62,736,457.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Chairman Edward W. Stack sold 151,210 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $220.93, for a total value of $33,406,825.30. Following the sale, the chairman now directly owns 10,899,110 shares of the company’s stock, valued at $2,407,940,372.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Lauren R. Hobart sold 40,167 shares of DICK’S Sporting Goods stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $223.95, for a total value of $8,995,399.65. Following the completion of the transaction, the chief executive officer now directly owns 280,136 shares of the company’s stock, valued at approximately $62,736,457.20. The disclosure for this sale can be found here. Insiders have sold 209,763 shares of company stock valued at $46,483,438 in the last three months. 30.79% of the stock is currently owned by company insiders.

DICK’S Sporting Goods Profile

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.