Cinctive Capital Management LP Grows Stock Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Cinctive Capital Management LP increased its position in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 142.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 45,247 shares of the sporting goods retailer's stock after buying an additional 26,579 shares during the period. Cinctive Capital Management LP owned about 0.06% of DICK'S Sporting Goods worth $10,354,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Wealthfront Advisers LLC bought a new stake in shares of DICK'S Sporting Goods during the fourth quarter valued at approximately $1,893,210,000. State Street Corp grew its stake in 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 valued at $473,945,000 after acquiring an additional 27,155 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in DICK'S Sporting Goods by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,866,177 shares of the sporting goods retailer's stock valued at $427,056,000 after acquiring an additional 77,357 shares during the last quarter. Geode Capital Management LLC lifted its stake in DICK'S Sporting Goods by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,057,793 shares of the sporting goods retailer's stock worth $241,660,000 after purchasing an additional 15,011 shares in the last quarter. Finally, Norges Bank bought a new position in shares of DICK'S Sporting Goods during the 4th quarter valued at about $221,693,000. Hedge funds and other institutional investors own 89.83% of the company's stock.

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DICK'S Sporting Goods Trading Down 1.3 %

DKS traded down $2.34 during trading hours on Friday, reaching $182.63. 3,464,057 shares of the company's stock traded hands, compared to its average volume of 1,133,006. The firm has a 50-day moving average price of $219.03 and a 200 day moving average price of $216.03. The firm has a market capitalization of $14.88 billion, a PE ratio of 13.05, a PEG ratio of 2.47 and a beta of 1.53. 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 52-week low of $168.44 and a 52-week high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share 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 the consensus estimate of $3.76 billion. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The business's revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the company earned $3.85 earnings per share. As a group, sell-side analysts predict that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK'S Sporting Goods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $1.2125 per share. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from DICK'S Sporting Goods's previous quarterly dividend of $1.10. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.66%. DICK'S Sporting Goods's dividend payout ratio (DPR) is 34.54%.

DICK'S Sporting Goods declared that its Board of Directors has initiated a share repurchase program 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 reacquire up to 18.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. TD Cowen boosted their target price on DICK'S Sporting Goods from $270.00 to $294.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Stifel Nicolaus decreased their price objective on DICK'S Sporting Goods from $240.00 to $226.00 and set a "hold" rating on the stock in a report on Wednesday, March 12th. Wedbush reissued a "neutral" rating and issued a $215.00 target price on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Argus boosted their price target on shares of DICK'S Sporting Goods from $255.00 to $280.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Finally, Truist Financial set a $245.00 price objective on shares of DICK'S Sporting Goods in a research report on Tuesday, March 11th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $245.50.

Insider Transactions at DICK'S Sporting Goods

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 16,504 shares of the company's stock, valued at $3,762,746.96. This represents a 23.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of DICK'S Sporting Goods stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction 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. The trade was a 1.88 % 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.

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.