Marshall Wace LLP Trims Stock Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Marshall Wace LLP reduced its position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 70.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,160 shares of the sporting goods retailer's stock after selling 113,301 shares during the quarter. Marshall Wace LLP owned 0.06% of DICK'S Sporting Goods worth $10,792,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. New Wave Wealth Advisors LLC acquired a new position in DICK'S Sporting Goods in the 4th quarter worth about $28,000. Rialto Wealth Management LLC acquired a new position in shares of DICK'S Sporting Goods during the 4th quarter worth approximately $30,000. Sound Income Strategies LLC lifted its position in shares of DICK'S Sporting Goods by 590.0% during 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 in the last quarter. Bessemer Group Inc. grew its stake in DICK'S Sporting Goods by 108.6% in the 4th quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock valued at $33,000 after acquiring an additional 76 shares during the period. Finally, Promus Capital LLC acquired a new stake in DICK'S Sporting Goods in the 4th quarter valued at $48,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Loop Capital reduced their price objective on DICK'S Sporting Goods from $240.00 to $195.00 and set a "hold" rating for the company in a research note on Thursday, March 13th. StockNews.com cut shares of DICK'S Sporting Goods from a "hold" rating to a "sell" rating in a research report on Tuesday. Telsey Advisory Group restated an "outperform" rating and set a $250.00 price target on shares of DICK'S Sporting Goods in a research report on Friday, March 14th. Argus increased their price objective on shares of DICK'S Sporting Goods from $255.00 to $280.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Finally, Truist Financial set a $245.00 target price on DICK'S Sporting Goods in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, DICK'S Sporting Goods presently has an average rating of "Moderate Buy" and a consensus target price of $244.72.

DICK'S Sporting Goods Stock Down 0.8 %

Shares of NYSE DKS traded down $1.52 during mid-day trading on Friday, hitting $187.99. The company had a trading volume of 586,396 shares, compared to its average volume of 1,159,380. The company has a market capitalization of $15.01 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 2.47 and a beta of 1.32. The business's 50-day simple moving average is $200.71 and its 200 day simple moving average is $212.95. DICK'S Sporting Goods, Inc. has a 1-year low of $166.37 and a 1-year high of $254.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the company earned $3.85 EPS. DICK'S Sporting Goods's revenue for the quarter was up .5% compared to the same quarter last year. On average, analysts predict that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $1.2125 dividend. The ex-dividend date was Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.58%. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.10. DICK'S Sporting Goods's dividend payout ratio is presently 34.54%.

DICK'S Sporting Goods declared that its Board of Directors has initiated a share buyback plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

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.