California Public Employees Retirement System Has $21.91 Million Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

California Public Employees Retirement System lowered its stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,757 shares of the sporting goods retailer's stock after selling 7,292 shares during the quarter. California Public Employees Retirement System owned about 0.12% of DICK'S Sporting Goods worth $21,913,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DKS. New Wave Wealth Advisors LLC acquired a new position in shares of DICK'S Sporting Goods in the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new position in shares of DICK'S Sporting Goods in the 4th quarter worth about $30,000. Sound Income Strategies LLC boosted its holdings in shares of DICK'S Sporting Goods by 590.0% in the 4th 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 period. Promus Capital LLC bought a new position in shares of DICK'S Sporting Goods during the fourth quarter valued at approximately $48,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of DICK'S Sporting Goods during the 4th quarter worth approximately $55,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other DICK'S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK'S Sporting Goods stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $227.99, for a total value 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 filing with the SEC, which is available through the SEC website. Company insiders own 32.03% of the company's stock.

DICK'S Sporting Goods Price Performance

DKS stock traded up $4.67 during midday trading on Tuesday, reaching $181.93. 407,663 shares of the company's stock traded hands, compared to its average volume of 1,357,943. 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 cap of $14.53 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 2.47 and a beta of 1.32. The company has a 50-day simple moving average of $217.64 and a two-hundred day simple moving average of $215.80. DICK'S Sporting Goods, Inc. has a 1-year low of $166.77 and a 1-year high of $254.60.

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 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 firm had revenue of $3.89 billion during the quarter, compared to analysts' expectations of $3.76 billion. During the same quarter last year, the company posted $3.85 EPS. The company's quarterly revenue was up .5% compared to the same quarter last year. On average, analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods announced that its board has approved a stock buyback plan on Tuesday, March 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the sporting goods retailer to buy up to 18.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

DICK'S Sporting Goods Increases Dividend

The business 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 $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 annualized dividend and a yield of 2.67%. DICK'S Sporting Goods's dividend payout ratio is presently 34.54%.

Analysts Set New Price Targets

A number of research analysts have recently commented on DKS shares. Truist Financial set a $245.00 price target on DICK'S Sporting Goods in a report on Tuesday, March 11th. Loop Capital decreased their price target on shares of DICK'S Sporting Goods from $240.00 to $195.00 and set a "hold" rating on the stock in a research report on Thursday, March 13th. Argus increased their price objective on DICK'S Sporting Goods from $255.00 to $280.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Wedbush reiterated a "neutral" rating and set a $215.00 price target on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Finally, Citigroup reissued a "neutral" rating and set a $220.00 target price (down previously from $230.00) on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $245.50.

DICK'S Sporting Goods 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.