Geode Capital Management LLC Raises Stock Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Geode Capital Management LLC raised its position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,057,793 shares of the sporting goods retailer's stock after purchasing an additional 15,011 shares during the quarter. Geode Capital Management LLC owned 1.30% of DICK'S Sporting Goods worth $241,660,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. National Bank of Canada FI raised its holdings in shares of DICK'S Sporting Goods by 7.3% during the fourth quarter. National Bank of Canada FI now owns 42,376 shares of the sporting goods retailer's stock worth $9,697,000 after purchasing an additional 2,871 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of DICK'S Sporting Goods during the 4th quarter valued at about $125,285,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of DICK'S Sporting Goods by 1.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,929 shares of the sporting goods retailer's stock valued at $1,586,000 after buying an additional 77 shares during the period. Brandywine Global Investment Management LLC boosted its stake in shares of DICK'S Sporting Goods by 151.8% in the fourth quarter. Brandywine Global Investment Management LLC now owns 66,185 shares of the sporting goods retailer's stock worth $15,146,000 after buying an additional 39,900 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in DICK'S Sporting Goods during the fourth quarter valued at approximately $206,000. Hedge funds and other institutional investors own 89.83% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have recently commented on DKS. DA Davidson dropped their price objective on shares of DICK'S Sporting Goods from $280.00 to $273.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Morgan Stanley boosted their price objective on DICK'S Sporting Goods from $245.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. TD Cowen raised their price target on shares of DICK'S Sporting Goods from $270.00 to $294.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Argus upped their target price 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. Finally, Truist Financial set a $245.00 target price 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 eleven have issued a buy rating to the stock. According to data from MarketBeat.com, DICK'S Sporting Goods presently has an average rating of "Moderate Buy" and an average target price of $242.95.

Insider Activity

In other DICK'S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of the business's 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 transaction, the executive vice president now owns 16,504 shares in the company, valued at approximately $3,762,746.96. The trade was a 23.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 32.03% of the company's stock.

DICK'S Sporting Goods Trading Down 7.1 %

Shares of NYSE DKS traded down $13.98 during trading on Thursday, reaching $183.97. The stock had a trading volume of 443,342 shares, compared to its average volume of 1,401,837. The business's 50-day moving average price is $212.73 and its 200-day moving average price is $214.97. DICK'S Sporting Goods, Inc. has a fifty-two week low of $166.37 and a fifty-two week high of $254.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The company has a market cap of $14.69 billion, a P/E ratio of 13.15, a PEG ratio of 2.47 and a beta of 1.32.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.15. The firm had revenue of $3.89 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.85 EPS. On average, equities research 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 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 represents a $4.85 dividend on an annualized basis and a yield of 2.64%. 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. DICK'S Sporting Goods's dividend payout ratio (DPR) is presently 34.54%.

DICK'S Sporting Goods announced that its board has approved a share repurchase 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 buy up to 18.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board 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.