Prudential Financial Inc. Decreases Stock Holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Prudential Financial Inc. reduced its holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 40.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,708 shares of the sporting goods retailer's stock after selling 7,827 shares during the quarter. Prudential Financial Inc.'s holdings in DICK'S Sporting Goods were worth $2,679,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in DKS. Stevens Capital Management LP purchased a new position in DICK'S Sporting Goods during the fourth quarter valued at $402,000. LPL Financial LLC grew its holdings in shares of DICK'S Sporting Goods by 12.0% during the fourth quarter. LPL Financial LLC now owns 48,328 shares of the sporting goods retailer's stock valued at $11,059,000 after buying an additional 5,187 shares during the last quarter. Fox Run Management L.L.C. boosted its stake in DICK'S Sporting Goods by 65.1% during the 4th quarter. Fox Run Management L.L.C. now owns 2,937 shares of the sporting goods retailer's stock valued at $672,000 after purchasing an additional 1,158 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of DICK'S Sporting Goods in the fourth quarter worth $4,760,000. Finally, Sei Investments Co. boosted its position in shares of DICK'S Sporting Goods by 9.9% during the fourth quarter. Sei Investments Co. now owns 55,316 shares of the sporting goods retailer's stock valued at $12,659,000 after buying an additional 4,970 shares during the last quarter. Institutional investors own 89.83% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on DKS shares. Stifel Nicolaus lowered their target price on shares of 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. Argus boosted their target price on shares of DICK'S Sporting Goods from $255.00 to $280.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Robert W. Baird decreased their target price on DICK'S Sporting Goods from $235.00 to $230.00 and set a "neutral" rating on the stock in a report on Wednesday, March 12th. Wedbush reaffirmed a "neutral" rating and set a $215.00 price objective on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Finally, 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. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, DICK'S Sporting Goods currently has an average rating of "Moderate Buy" and an average target price of $245.50.

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DICK'S Sporting Goods Stock Performance

NYSE:DKS opened at $184.89 on Friday. 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 stock's fifty day moving average is $220.38 and its 200 day moving average is $216.23. The firm has a market capitalization of $15.06 billion, a PE ratio of 13.22, a PEG ratio of 2.47 and a beta of 1.53. DICK'S Sporting Goods, Inc. has a fifty-two week low of $176.81 and a fifty-two week high of $254.60.

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 (EPS) for the quarter, topping 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 business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the firm earned $3.85 earnings per share. The firm's quarterly revenue was up .5% compared to the same quarter last year. On average, sell-side analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current 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 $1.2125 dividend. This represents a $4.85 annualized dividend and a yield of 2.62%. This is a boost 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 34.54%.

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

Insider Activity

In other news, 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 in the company, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction on 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 sale, the chairman now directly owns 8,362,128 shares in the company, valued at $1,917,017,844. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 32.03% of the company's stock.

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.

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