Blueshift Asset Management LLC Invests $1.74 Million in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Blueshift Asset Management LLC purchased a new position in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,590 shares of the sporting goods retailer's stock, valued at approximately $1,737,000. DICK'S Sporting Goods comprises approximately 0.6% of Blueshift Asset Management LLC's holdings, making the stock its 28th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Wave Wealth Advisors LLC purchased a new position in DICK'S Sporting Goods in the 4th quarter worth $28,000. Brooklyn Investment Group purchased a new position in shares of DICK'S Sporting Goods in the third quarter worth about $27,000. Rialto Wealth Management LLC purchased a new position in shares of DICK'S Sporting Goods in the fourth quarter worth about $30,000. Sound Income Strategies LLC boosted its position in DICK'S Sporting Goods by 590.0% in the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer's stock valued at $32,000 after buying an additional 118 shares during the last quarter. Finally, True Wealth Design LLC lifted its stake in DICK'S Sporting Goods by 2,900.0% during the 3rd quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer's stock valued at $31,000 after acquiring an additional 145 shares during the period. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DICK'S Sporting Goods

In related news, Chairman Edward W. Stack sold 160,600 shares of the company's stock in a transaction that occurred on 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 directly owns 8,362,128 shares in the company, valued at approximately $1,917,017,844. This represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lawrence J. Schorr sold 7,333 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total value of $1,697,956.15. Following the sale, the director now directly owns 50,997 shares of the company's stock, valued at approximately $11,808,355.35. This trade represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 172,933 shares of company stock worth $39,655,456 in the last three months. 32.03% of the stock is owned by corporate insiders.

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DICK'S Sporting Goods Price Performance

Shares of DICK'S Sporting Goods stock traded up $10.61 during trading hours on Monday, reaching $206.06. 1,467,669 shares of the company's stock were exchanged, compared to its average volume of 1,089,054. The business has a fifty day moving average of $224.69 and a two-hundred day moving average of $216.65. 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 company has a market capitalization of $16.79 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. 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 released 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. 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 quarter in the prior year, the firm earned $3.85 EPS. DICK'S Sporting Goods's quarterly revenue was up .5% on a year-over-year basis. As a group, research analysts predict that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

DICK'S Sporting Goods Increases Dividend

The business also recently disclosed 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 is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a yield of 2.35%. This is a positive change from DICK'S Sporting Goods's previous quarterly dividend of $1.10. DICK'S Sporting Goods's payout ratio is 34.54%.

Analyst Ratings Changes

Several brokerages recently weighed in on DKS. Truist Financial set a $245.00 price target on DICK'S Sporting Goods in a report on Tuesday, March 11th. Robert W. Baird decreased 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. TD Cowen raised their price target on shares of DICK'S Sporting Goods from $270.00 to $294.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Stifel Nicolaus cut 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. Finally, Loop Capital lowered their target price on shares of DICK'S Sporting Goods from $240.00 to $195.00 and set a "hold" rating on the stock in a research note on Thursday, March 13th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $245.50.

DICK'S Sporting Goods Company Profile

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.