Xponance Inc. Raises Stock Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Xponance Inc. lifted its holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 14.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,793 shares of the sporting goods retailer's stock after buying an additional 1,386 shares during the quarter. Xponance Inc.'s holdings in DICK'S Sporting Goods were worth $2,470,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Quest Partners LLC increased its stake in shares of DICK'S Sporting Goods by 871.9% in the 3rd quarter. Quest Partners LLC now owns 4,150 shares of the sporting goods retailer's stock valued at $866,000 after acquiring an additional 3,723 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in DICK'S Sporting Goods during the third quarter valued at approximately $900,000. Avior Wealth Management LLC increased its stake in DICK'S Sporting Goods by 276.8% in the third quarter. Avior Wealth Management LLC now owns 1,172 shares of the sporting goods retailer's stock valued at $245,000 after purchasing an additional 861 shares in the last quarter. Commerce Bank raised its holdings in DICK'S Sporting Goods by 7.1% in the third quarter. Commerce Bank now owns 2,950 shares of the sporting goods retailer's stock worth $616,000 after purchasing an additional 196 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of DICK'S Sporting Goods by 9.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 183,656 shares of the sporting goods retailer's stock worth $38,329,000 after purchasing an additional 15,613 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

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Insiders Place Their Bets

In related news, Chairman Edward W. Stack sold 160,600 shares of the business's stock in a transaction dated 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 owns 8,362,128 shares in the company, valued at $1,917,017,844. The trade was a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now owns 16,504 shares in the company, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,933 shares of company stock valued at $39,655,456 over the last 90 days. 32.03% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DKS. UBS Group upgraded shares of DICK'S Sporting Goods from a "neutral" rating to a "buy" rating and raised their target price for the stock from $225.00 to $260.00 in a report on Wednesday, November 27th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $250.00 price objective on shares of DICK'S Sporting Goods in a research report on Friday, March 14th. Wedbush reaffirmed 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. Loop Capital dropped their price target 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. Finally, Truist Financial set a $245.00 price objective on DICK'S Sporting Goods in a research report on Tuesday, March 11th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, DICK'S Sporting Goods has an average rating of "Moderate Buy" and a consensus price target of $245.50.

DICK'S Sporting Goods Trading Down 0.4 %

Shares of DICK'S Sporting Goods stock traded down $0.79 on Wednesday, hitting $207.16. 852,541 shares of the company traded hands, compared to its average volume of 1,285,036. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The company has a market cap of $16.88 billion, a PE ratio of 14.81, a PEG ratio of 2.47 and a beta of 1.53. The stock's 50 day moving average price is $224.43 and its 200-day moving average price is $216.65. DICK'S Sporting Goods, Inc. has a 52 week low of $182.84 and a 52 week high of $254.60.

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

DICK'S Sporting Goods announced that its board has initiated a share 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 reacquire up to 18.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board 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 given a dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a dividend yield of 2.34%. 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. DICK'S Sporting Goods's payout ratio is presently 34.54%.

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.