Alliancebernstein L.P. Sells 179,458 Shares of DICK'S Sporting Goods, Inc. (NYSE:DKS)

Alliancebernstein L.P. trimmed its holdings in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 51.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,374 shares of the sporting goods retailer's stock after selling 179,458 shares during the period. Alliancebernstein L.P. owned about 0.21% of DICK'S Sporting Goods worth $39,446,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wealthfront Advisers LLC acquired a new position in DICK'S Sporting Goods during the fourth quarter valued at approximately $1,893,210,000. State Street Corp lifted its position in shares of DICK'S Sporting Goods by 1.2% during the third 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of DICK'S Sporting Goods by 4.3% during the fourth 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of DICK'S Sporting Goods by 1.0% during the third 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 in the last quarter. Finally, Norges Bank acquired a new position in shares of DICK'S Sporting Goods during the fourth quarter worth $221,693,000. 89.83% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of the business's stock in a transaction on Friday, January 17th. The shares were 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 of the company's stock, valued at approximately $3,762,746.96. The trade was a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 32.03% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on DKS shares. Argus upped their price target on shares of DICK'S Sporting Goods from $255.00 to $280.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Wedbush restated a "neutral" rating and issued a $215.00 price target on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Morgan Stanley raised their price target on shares of 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. Stifel Nicolaus reduced their price target on shares of DICK'S Sporting Goods from $226.00 to $192.00 and set a "hold" rating on the stock in a research report on Thursday. Finally, DA Davidson dropped their price objective on shares of DICK'S Sporting Goods from $280.00 to $273.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, DICK'S Sporting Goods currently has a consensus rating of "Moderate Buy" and a consensus target price of $242.95.

DICK'S Sporting Goods Stock Down 5.8 %

Shares of DKS stock traded down $11.55 during trading on Thursday, hitting $186.39. 310,576 shares of the company were exchanged, compared to its average volume of 1,144,149. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The firm has a market capitalization of $14.88 billion, a price-to-earnings ratio of 13.32, a P/E/G ratio of 2.47 and a beta of 1.32. The business's 50-day simple moving average is $212.73 and its 200 day simple moving average is $214.97. DICK'S Sporting Goods, Inc. has a twelve month low of $166.37 and a twelve month high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping the consensus estimate 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 firm's quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company posted $3.85 earnings per share. As a group, analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK'S Sporting Goods declared that its Board of Directors has initiated a share buyback 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 buy up to 18.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its stock is undervalued.

DICK'S Sporting Goods Increases Dividend

The company 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. This is a positive change from DICK'S Sporting Goods's previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.60%. DICK'S Sporting Goods's dividend payout ratio (DPR) is currently 34.54%.

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.