Pictet Asset Management Holding SA Boosts Stock Holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Pictet Asset Management Holding SA raised its holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 367,052 shares of the sporting goods retailer's stock after acquiring an additional 12,797 shares during the period. Pictet Asset Management Holding SA owned approximately 0.45% of DICK'S Sporting Goods worth $83,996,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Brooklyn Investment Group purchased a new stake in DICK'S Sporting Goods in the third quarter valued at approximately $27,000. New Wave Wealth Advisors LLC bought a new position in shares of DICK'S Sporting Goods in the 4th quarter worth $28,000. Rialto Wealth Management LLC purchased a new stake in shares of DICK'S Sporting Goods during the 4th quarter valued at $30,000. True Wealth Design LLC lifted its holdings in shares of DICK'S Sporting Goods by 2,900.0% during the 3rd quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer's stock worth $31,000 after acquiring an additional 145 shares during the last quarter. Finally, Sound Income Strategies LLC grew its position in DICK'S Sporting Goods by 590.0% in the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer's stock worth $32,000 after acquiring an additional 118 shares in the last quarter. Institutional investors own 89.83% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Citigroup reaffirmed a "neutral" rating and set a $220.00 price target (down previously from $230.00) on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Truist Financial set a $245.00 target price on DICK'S Sporting Goods in a research report on Tuesday, March 11th. Robert W. Baird reduced their price target on shares of DICK'S Sporting Goods from $235.00 to $230.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 12th. Argus boosted their price objective 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, Wedbush reaffirmed a "neutral" rating and set a $215.00 target price on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $245.50.

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Insider Activity at DICK'S Sporting Goods

In other DICK'S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of the firm's stock in a transaction that occurred 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 transaction, the chairman now owns 8,362,128 shares of the company's stock, valued at approximately $1,917,017,844. This trade represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $1,139,950.00. Following the completion of the sale, the executive vice president now directly owns 16,504 shares in the company, valued at approximately $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. 32.03% of the stock is currently owned by corporate insiders.

DICK'S Sporting Goods Trading Down 15.7 %

Shares of NYSE:DKS traded down $33.26 on Thursday, hitting $178.06. The company had a trading volume of 1,349,603 shares, compared to its average volume of 1,115,732. The firm's 50-day simple moving average is $221.61 and its two-hundred day simple moving average is $216.45. 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 capitalization of $14.51 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 2.47 and a beta of 1.53. DICK'S Sporting Goods, Inc. has a 1 year low of $176.81 and a 1 year high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.15. The company had revenue of $3.89 billion for 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%. The firm's revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $3.85 earnings per share. Equities analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal 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 paid a $1.2125 dividend. This represents a $4.85 annualized dividend and a dividend yield of 2.72%. This is a positive change 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 declared that its board has initiated a stock repurchase program on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are 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.