Renaissance Technologies LLC Sells 182,655 Shares of DICK'S Sporting Goods, Inc. (NYSE:DKS)

Renaissance Technologies LLC reduced its stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 17.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 860,085 shares of the sporting goods retailer's stock after selling 182,655 shares during the quarter. Renaissance Technologies LLC owned approximately 1.06% of DICK'S Sporting Goods worth $196,822,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. New Wave Wealth Advisors LLC purchased a new stake in shares of DICK'S Sporting Goods in the fourth quarter valued at about $28,000. Rialto Wealth Management LLC bought a new stake in DICK'S Sporting Goods in the 4th quarter worth about $30,000. Sound Income Strategies LLC increased its stake in DICK'S Sporting Goods by 590.0% in the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer's stock valued at $32,000 after buying an additional 118 shares during the last quarter. Promus Capital LLC bought a new position in shares of DICK'S Sporting Goods during the 4th quarter worth approximately $48,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of DICK'S Sporting Goods during the 4th quarter worth approximately $55,000. 89.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $227.99, for a total value of $1,139,950.00. Following the sale, the executive vice president now directly owns 16,504 shares of the company's stock, valued at $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 32.03% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

A number of analysts recently commented on DKS shares. Wedbush reaffirmed a "neutral" rating and set a $215.00 price target on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Loop Capital decreased their target price on DICK'S Sporting Goods from $240.00 to $195.00 and set a "hold" rating for the company in a research report on Thursday, March 13th. Truist Financial set a $245.00 target price on DICK'S Sporting Goods in a research note on Tuesday, March 11th. Citigroup restated 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 report on Wednesday, March 12th. Finally, Argus lifted 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 research report on Wednesday, January 29th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $244.72.

DICK'S Sporting Goods Stock Performance

Shares of NYSE:DKS traded down $4.01 during midday trading on Friday, reaching $186.01. 1,412,940 shares of the company traded hands, compared to its average volume of 1,156,121. The firm's fifty day moving average price is $210.74 and its two-hundred day moving average price is $214.56. The firm has a market capitalization of $14.85 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 2.47 and a beta of 1.32. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. 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 announced 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. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $3.76 billion. During the same period in the prior year, the business posted $3.85 earnings per share. The company's revenue was up .5% on a year-over-year basis. On average, equities analysts expect that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods announced that its board has initiated a share repurchase program on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the sporting goods retailer to purchase up to 18.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

DICK'S Sporting Goods Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $1.2125 dividend. The ex-dividend date was Friday, March 28th. This represents a $4.85 annualized dividend and a dividend yield of 2.61%. This is a boost from DICK'S Sporting Goods's previous quarterly dividend of $1.10. DICK'S Sporting Goods's dividend payout ratio is presently 34.54%.

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.