Mitsubishi UFJ Asset Management Co. Ltd. Has $10.18 Million Stake in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,409 shares of the sporting goods retailer's stock after purchasing an additional 4,970 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.05% of DICK'S Sporting Goods worth $10,175,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. 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. Holocene Advisors LP bought a new position in DICK'S Sporting Goods during the third quarter worth about $70,562,000. KBC Group NV boosted its holdings in DICK'S Sporting Goods by 86.8% during the fourth quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer's stock valued at $107,043,000 after purchasing an additional 217,390 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of DICK'S Sporting Goods in the 3rd quarter valued at approximately $32,093,000. Finally, World Investment Advisors LLC acquired a new position in shares of DICK'S Sporting Goods in the 3rd quarter worth approximately $29,991,000. Institutional investors and hedge funds own 89.83% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Guggenheim reaffirmed a "neutral" rating on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Stifel Nicolaus dropped their price target on 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. Loop Capital reduced their price objective on 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. Wedbush restated a "neutral" rating and issued a $215.00 target price on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Finally, Morgan Stanley increased their price objective on shares of DICK'S Sporting Goods from $245.00 to $255.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $245.50.

Remove Ads

Insider Transactions at DICK'S Sporting Goods

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the sale, the executive vice president now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of the company's stock in a transaction 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 sale, the chairman now owns 8,362,128 shares of the company's stock, 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. Insiders own 32.03% of the company's stock.

DICK'S Sporting Goods Stock Down 1.3 %

DKS traded down $2.34 during trading hours on Friday, hitting $182.63. 3,464,057 shares of the company's stock were exchanged, compared to its average volume of 1,132,468. The stock's 50-day moving average is $219.03 and its two-hundred day moving average is $216.03. DICK'S Sporting Goods, Inc. has a 1-year low of $168.22 and a 1-year high of $254.60. 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 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.

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 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.15. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $3.85 EPS. Sell-side analysts predict that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $1.2125 per share. This is a boost 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 yield of 2.66%. DICK'S Sporting Goods's dividend payout ratio (DPR) is presently 34.54%.

DICK'S Sporting Goods declared that its Board of Directors has approved a stock repurchase plan on Tuesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

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.