Allstate Corp Buys Shares of 1,624 DICK'S Sporting Goods, Inc. (NYSE:DKS)

Allstate Corp purchased a new stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,624 shares of the sporting goods retailer's stock, valued at approximately $372,000.

Other large investors have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC acquired a new stake in shares of DICK'S Sporting Goods during the fourth quarter worth $1,893,210,000. Norges Bank bought a new stake in shares of DICK'S Sporting Goods during the 4th quarter valued at about $221,693,000. KBC Group NV raised its stake in DICK'S Sporting Goods by 86.8% during the fourth quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer's stock worth $107,043,000 after acquiring an additional 217,390 shares during the period. World Investment Advisors LLC bought a new position in DICK'S Sporting Goods in the third quarter worth about $29,991,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in DICK'S Sporting Goods in the fourth quarter valued at approximately $23,791,000. 89.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DKS. Telsey Advisory Group reiterated an "outperform" rating and set a $250.00 price target on shares of DICK'S Sporting Goods in a research report on Friday, March 14th. Guggenheim reiterated a "neutral" rating on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Loop Capital lowered 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. Stifel Nicolaus cut their price objective on shares of DICK'S Sporting Goods from $240.00 to $226.00 and set a "hold" rating on the stock in a research report on Wednesday, March 12th. Finally, Robert W. Baird reduced their target price on shares of DICK'S Sporting Goods from $235.00 to $230.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, DICK'S Sporting Goods currently has a consensus rating of "Moderate Buy" and a consensus price target of $245.50.

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Insider Activity

In other news, Chairman Edward W. Stack sold 160,600 shares of the company's stock in a transaction dated 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 transaction, the chairman now owns 8,362,128 shares in the company, valued at $1,917,017,844. This represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now 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 disclosure for this sale can be found here. Corporate insiders own 32.03% of the company's stock.

DICK'S Sporting Goods Trading Down 1.3 %

Shares of NYSE DKS traded down $2.34 during mid-day trading on Friday, hitting $182.63. 3,464,057 shares of the company traded hands, compared to its average volume of 1,133,006. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. DICK'S Sporting Goods, Inc. has a 1 year low of $168.44 and a 1 year high of $254.60. The stock has a market capitalization of $14.88 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 2.47 and a beta of 1.53. The business has a 50 day moving average of $219.03 and a two-hundred day moving average of $216.03.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $3.89 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.85 earnings per share. On average, sell-side analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods Increases Dividend

The company 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. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a yield of 2.66%. The ex-dividend date is Friday, March 28th. DICK'S Sporting Goods's payout ratio is 34.54%.

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

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.