Sterling Capital Management LLC Reduces Holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Sterling Capital Management LLC reduced its position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 54.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,119 shares of the sporting goods retailer's stock after selling 3,657 shares during the quarter. Sterling Capital Management LLC's holdings in DICK'S Sporting Goods were worth $714,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DKS. New Wave Wealth Advisors LLC bought a new stake in DICK'S Sporting Goods during the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC purchased a new position in shares of DICK'S Sporting Goods during the 4th quarter worth $30,000. Sound Income Strategies LLC grew its position in shares of DICK'S Sporting Goods by 590.0% during the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer's stock valued at $32,000 after acquiring an additional 118 shares during the period. Bessemer Group Inc. increased its stake in shares of DICK'S Sporting Goods by 108.6% in the 4th quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock worth $33,000 after purchasing an additional 76 shares in the last quarter. Finally, Promus Capital LLC bought a new position in DICK'S Sporting Goods in the 4th quarter worth $48,000. Hedge funds and other institutional investors own 89.83% of the company's stock.

Analysts Set New Price Targets

DKS has been the subject of several recent research reports. StockNews.com lowered DICK'S Sporting Goods from a "hold" rating to a "sell" rating in a report on Tuesday. DA Davidson cut their price objective on DICK'S Sporting Goods from $280.00 to $273.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Truist Financial set a $245.00 target price on shares of DICK'S Sporting Goods in a report on Tuesday, March 11th. Wedbush reaffirmed a "neutral" rating and set a $215.00 price target on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Finally, Robert W. Baird reduced their price objective on shares of DICK'S Sporting Goods from $235.00 to $230.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $244.72.

DICK'S Sporting Goods Price Performance

DICK'S Sporting Goods stock traded up $4.69 during midday trading on Tuesday, reaching $181.08. 965,970 shares of the stock traded hands, compared to its average volume of 1,159,349. The stock has a market cap of $14.46 billion, a P/E ratio of 12.94, a PEG ratio of 2.47 and a beta of 1.32. The stock's fifty day moving average is $202.75 and its 200-day moving average is $213.26. 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 posted its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the prior year, the company earned $3.85 EPS. The company's quarterly revenue was up .5% compared to the same quarter last year. As a group, equities research analysts anticipate 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 was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $1.2125 dividend. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.68%. DICK'S Sporting Goods's dividend payout ratio (DPR) is presently 34.54%.

DICK'S Sporting Goods announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

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.