Hsbc Holdings PLC Reduces Stake in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Hsbc Holdings PLC reduced its stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 9.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 85,794 shares of the sporting goods retailer's stock after selling 8,841 shares during the period. Hsbc Holdings PLC owned about 0.11% of DICK'S Sporting Goods worth $19,632,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Wealthfront Advisers LLC purchased a new stake in DICK'S Sporting Goods in the fourth quarter worth $1,893,210,000. Norges Bank purchased a new stake in DICK'S Sporting Goods in the 4th quarter worth about $221,693,000. Wellington Management Group LLP bought a new stake in DICK'S Sporting Goods in the 4th quarter valued at about $125,285,000. KBC Group NV lifted 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 during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in DICK'S Sporting Goods during the fourth quarter worth about $23,791,000. Hedge funds and other institutional investors own 89.83% of the company's stock.

Wall Street Analyst Weigh In

DKS has been the topic of a number of recent research reports. Loop Capital dropped their price target on shares of 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. Morgan Stanley increased their target price on DICK'S Sporting Goods from $245.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Robert W. Baird reduced their price target on DICK'S Sporting Goods from $235.00 to $230.00 and set a "neutral" rating for the company in a research report on Wednesday, March 12th. Wedbush reissued a "neutral" rating and set a $215.00 price objective on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $250.00 target price on shares of DICK'S Sporting Goods in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $244.72.

DICK'S Sporting Goods Trading Down 0.8 %

Shares of DKS stock opened at $187.99 on Friday. 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 firm has a market cap of $15.01 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 2.47 and a beta of 1.32. The business has a 50-day moving average price of $199.77 and a two-hundred day moving average price of $212.89. DICK'S Sporting Goods, Inc. has a 12-month low of $166.37 and a 12-month high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last issued its earnings results 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. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.76 billion. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. DICK'S Sporting Goods's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.85 earnings per share. Equities analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK'S Sporting Goods Increases Dividend

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

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

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.

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