Artisan Partners Limited Partnership Raises Stake in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Artisan Partners Limited Partnership increased its stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 16.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 407,355 shares of the sporting goods retailer's stock after buying an additional 58,073 shares during the quarter. Artisan Partners Limited Partnership owned about 0.50% of DICK'S Sporting Goods worth $93,219,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wealthfront Advisers LLC purchased a new position in shares of DICK'S Sporting Goods during the fourth quarter valued at approximately $1,893,210,000. Holocene Advisors LP bought a new stake in shares of DICK'S Sporting Goods during the 3rd quarter worth approximately $70,562,000. KBC Group NV lifted its stake in shares of DICK'S Sporting Goods by 86.8% during the 4th 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 last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in DICK'S Sporting Goods by 1,718.2% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 200,000 shares of the sporting goods retailer's stock valued at $41,740,000 after acquiring an additional 189,000 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in DICK'S Sporting Goods in the 3rd quarter valued at $32,093,000. 89.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Edward W. Stack sold 160,600 shares of the 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 transaction, the chairman now directly owns 8,362,128 shares of the company's stock, valued at $1,917,017,844. This trade represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lawrence J. Schorr sold 7,333 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the sale, the director now directly owns 50,997 shares in the company, valued at approximately $11,808,355.35. This represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 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.

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DICK'S Sporting Goods Stock Up 2.5 %

Shares of DICK'S Sporting Goods stock traded up $4.94 on Tuesday, reaching $206.50. The stock had a trading volume of 1,165,217 shares, compared to its average volume of 1,115,043. 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 capitalization of $16.82 billion, a P/E ratio of 14.76, a P/E/G ratio of 2.47 and a beta of 1.53. The company has a 50 day moving average price of $222.12 and a 200 day moving average price of $216.49. 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 - Get Free Report) last announced 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. DICK'S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period last year, the firm earned $3.85 earnings per share. DICK'S Sporting Goods's revenue was up .5% compared to the same quarter last year. As a group, equities research analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK'S Sporting Goods declared that its Board of Directors has initiated a share buyback program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

DICK'S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $1.2125 dividend. The ex-dividend date is Friday, March 28th. This is a boost from DICK'S Sporting Goods's previous quarterly dividend of $1.10. This represents a $4.85 dividend on an annualized basis and a yield of 2.35%. DICK'S Sporting Goods's dividend payout ratio (DPR) is 34.54%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Robert W. Baird lowered 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. Stifel Nicolaus lowered 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 research report on Wednesday, March 12th. Citigroup reaffirmed a "neutral" rating and set a $220.00 target price (down from $230.00) on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Morgan Stanley lifted their price target on shares of 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, Wedbush reissued a "neutral" rating and issued a $215.00 price objective on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, DICK'S Sporting Goods currently has a consensus rating of "Moderate Buy" and a consensus 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.