Norges Bank Takes Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Norges Bank purchased a new position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 968,770 shares of the sporting goods retailer's stock, valued at approximately $221,693,000. Norges Bank owned about 1.19% of DICK'S Sporting Goods as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealthfront Advisers LLC acquired a new position in shares of DICK'S Sporting Goods in the 4th quarter valued at about $1,893,210,000. State Street Corp lifted its stake 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 valued at $473,945,000 after buying an additional 27,155 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of DICK'S Sporting Goods by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,866,177 shares of the sporting goods retailer's stock worth $427,056,000 after buying an additional 77,357 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of DICK'S Sporting Goods by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,042,782 shares of the sporting goods retailer's stock worth $217,169,000 after buying an additional 10,640 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of DICK'S Sporting Goods by 5.1% during the 4th quarter. JPMorgan Chase & Co. now owns 652,838 shares of the sporting goods retailer's stock worth $149,396,000 after buying an additional 31,919 shares during the period. Institutional investors and hedge funds own 89.83% of the company's stock.

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DICK'S Sporting Goods Stock Down 1.3 %

Shares of DKS stock traded down $2.34 on Friday, hitting $182.63. The stock had a trading volume of 3,464,057 shares, compared to its average volume of 1,133,006. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The business has a 50 day moving average of $219.03 and a 200 day moving average of $216.03. DICK'S Sporting Goods, Inc. has a 12-month low of $168.44 and a 12-month high of $254.60. The stock has a market cap of $14.88 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53.

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

DICK'S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $1.2125 per share. This is a positive change from DICK'S Sporting Goods's previous quarterly dividend of $1.10. This represents a $4.85 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, March 28th. DICK'S Sporting Goods's dividend payout ratio (DPR) is 34.54%.

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

Analyst Ratings Changes

A number of research firms recently issued reports on DKS. DA Davidson dropped their target price on shares of DICK'S Sporting Goods from $280.00 to $273.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Citigroup reiterated a "neutral" rating and set a $220.00 price objective (down previously from $230.00) on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. TD Cowen raised their target price on 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. Stifel Nicolaus dropped their price target on DICK'S Sporting Goods from $240.00 to $226.00 and set a "hold" rating on the stock in a research note on Wednesday, March 12th. Finally, Morgan Stanley increased their price target on DICK'S Sporting Goods from $245.00 to $255.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $245.50.

Insiders Place Their Bets

In other DICK'S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the transaction, the chairman now directly owns 8,362,128 shares in the company, valued at $1,917,017,844. The trade was a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly 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. Insiders own 32.03% of the company's stock.

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.