Kensington Investment Counsel LLC Raises Stock Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Kensington Investment Counsel LLC boosted its stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 60.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,885 shares of the sporting goods retailer's stock after acquiring an additional 2,219 shares during the period. Kensington Investment Counsel LLC's holdings in DICK'S Sporting Goods were worth $1,347,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Wealthfront Advisers LLC bought a new stake in DICK'S Sporting Goods in the fourth quarter worth about $1,893,210,000. State Street Corp raised its position in DICK'S Sporting Goods by 1.2% in the third quarter. State Street Corp now owns 2,259,133 shares of the sporting goods retailer's stock worth $473,945,000 after acquiring an additional 27,155 shares during the period. Charles Schwab Investment Management Inc. raised its position in DICK'S Sporting Goods by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,866,177 shares of the sporting goods retailer's stock worth $427,056,000 after acquiring an additional 77,357 shares during the period. Geode Capital Management LLC increased its stake in shares of DICK'S Sporting Goods by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,042,782 shares of the sporting goods retailer's stock worth $217,169,000 after purchasing an additional 10,640 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of DICK'S Sporting Goods by 86.8% in the fourth quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer's stock worth $107,043,000 after purchasing an additional 217,390 shares in the last quarter. Institutional investors own 89.83% of the company's stock.

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Insider Transactions at DICK'S Sporting Goods

In related news, 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 transaction of $36,817,550.00. Following the completion of the sale, the chairman now directly owns 8,362,128 shares in the company, valued at $1,917,017,844. This represents a 1.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the company's stock in a transaction on Friday, January 17th. The shares were 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is currently owned by insiders.

DICK'S Sporting Goods Trading Up 2.1 %

Shares of DKS traded up $3.95 during mid-day trading on Friday, reaching $195.30. The company's stock had a trading volume of 3,647,158 shares, compared to its average volume of 1,088,010. The stock has a market cap of $15.91 billion, a PE ratio of 13.96, a P/E/G ratio of 2.47 and a beta of 1.53. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. DICK'S Sporting Goods, Inc. has a 52 week low of $182.84 and a 52 week high of $254.60. The company's fifty day moving average price is $225.07 and its two-hundred day moving average price is $216.84.

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 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 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%. The business's quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $3.85 EPS. On average, analysts predict that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods announced that its board has approved a share buyback 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 often a sign that the company's leadership believes its stock is undervalued.

DICK'S Sporting Goods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.48%. This is a positive change from DICK'S Sporting Goods's previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 28th. DICK'S Sporting Goods's payout ratio is presently 34.54%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DKS. Citigroup reiterated a "neutral" rating and issued a $220.00 target price (down previously from $230.00) on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Telsey Advisory Group reiterated an "outperform" rating and issued a $250.00 target price on shares of DICK'S Sporting Goods in a research note on Friday, March 14th. Morgan Stanley lifted their target price on shares of DICK'S Sporting Goods from $245.00 to $255.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Argus lifted 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 research note on Wednesday, January 29th. Finally, Loop Capital reduced their target price on shares of 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. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $245.50.

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.