JPMorgan Chase & Co. Has $149.40 Million Stock Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

JPMorgan Chase & Co. lifted its position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 652,838 shares of the sporting goods retailer's stock after purchasing an additional 31,919 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.80% of DICK'S Sporting Goods worth $149,396,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Greenleaf Trust raised its stake in shares of DICK'S Sporting Goods by 3.0% in the 4th quarter. Greenleaf Trust now owns 1,721 shares of the sporting goods retailer's stock valued at $394,000 after buying an additional 50 shares in the last quarter. Independent Advisor Alliance boosted its holdings in DICK'S Sporting Goods by 5.4% during the fourth quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer's stock valued at $235,000 after purchasing an additional 53 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in shares of DICK'S Sporting Goods by 2.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer's stock valued at $577,000 after purchasing an additional 54 shares during the period. Stonegate Investment Group LLC raised its holdings in shares of DICK'S Sporting Goods by 2.9% in the 4th quarter. Stonegate Investment Group LLC now owns 2,066 shares of the sporting goods retailer's stock worth $473,000 after buying an additional 58 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in DICK'S Sporting Goods by 9.4% in the 4th quarter. IFP Advisors Inc now owns 769 shares of the sporting goods retailer's stock valued at $176,000 after buying an additional 66 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

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Insider Activity at DICK'S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of the company's 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 completion of the transaction, the executive vice president now owns 16,504 shares in the company, valued at $3,762,746.96. This represents a 23.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the sale, the chairman now 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. 32.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DKS. Citigroup restated a "neutral" rating and issued a $220.00 target price (down previously from $230.00) on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Guggenheim restated a "neutral" rating on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Argus raised their price objective on shares of DICK'S Sporting Goods from $255.00 to $280.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Telsey Advisory Group reissued an "outperform" rating and issued a $250.00 target price on shares of DICK'S Sporting Goods in a report on Friday, March 14th. Finally, Wedbush restated a "neutral" rating and set a $215.00 price target on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $245.50.

DICK'S Sporting Goods Trading Down 1.3 %

NYSE DKS traded down $2.34 on Friday, reaching $182.63. The company had a trading volume of 3,464,057 shares, compared to its average volume of 1,132,468. 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 $168.22 and a 52 week high of $254.60. The stock has a market cap of $14.88 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 2.47 and a beta of 1.53. The stock's 50 day moving average is $219.03 and its 200-day moving average is $216.03.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.15. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.76 billion. DICK'S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. DICK'S Sporting Goods's revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the company posted $3.85 EPS. Equities analysts predict that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods declared that its board has initiated a share buyback program on Tuesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the sporting goods retailer to reacquire up to 18.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are 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 issued 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 of this dividend is Friday, March 28th. This represents a $4.85 annualized dividend and a dividend yield of 2.66%. DICK'S Sporting Goods's payout ratio is 34.54%.

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.