DICK'S Sporting Goods, Inc. (NYSE:DKS) Stock Position Cut by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,270 shares of the sporting goods retailer's stock after selling 9,908 shares during the quarter. Teacher Retirement System of Texas owned about 0.17% of DICK'S Sporting Goods worth $31,642,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Wealthfront Advisers LLC purchased a new position in shares of DICK'S Sporting Goods in the 4th quarter worth $1,893,210,000. Holocene Advisors LP purchased a new position in shares of DICK'S Sporting Goods in the 3rd quarter worth about $70,562,000. KBC Group NV lifted its stake in shares of DICK'S Sporting Goods by 86.8% in the 4th quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer's stock valued at $107,043,000 after purchasing an additional 217,390 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of DICK'S Sporting Goods by 1,718.2% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 200,000 shares of the sporting goods retailer's stock valued at $41,740,000 after purchasing an additional 189,000 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of DICK'S Sporting Goods during the 3rd quarter worth about $32,093,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

DICK'S Sporting Goods Stock Performance

Shares of DKS stock traded up $2.41 on Tuesday, hitting $207.97. 1,267,621 shares of the stock traded hands, compared to its average volume of 1,088,909. The company's fifty day moving average is $224.69 and its 200 day moving average is $216.65. DICK'S Sporting Goods, Inc. has a 1-year low of $182.84 and a 1-year high of $254.60. The company has a market capitalization of $16.94 billion, a PE ratio of 14.87, a PEG ratio of 2.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56.

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DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last issued its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping analysts' consensus estimates 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 company 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 company earned $3.85 earnings per share. The firm's revenue was up .5% compared to the same quarter last year. On average, equities research analysts predict that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

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

DICK'S Sporting Goods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $1.2125 per share. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from DICK'S Sporting Goods's previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a dividend yield of 2.33%. DICK'S Sporting Goods's dividend payout ratio is 34.54%.

Insider Transactions at DICK'S Sporting Goods

In related news, Chairman Edward W. Stack sold 160,600 shares of the company's stock in a transaction on Monday, January 6th. The stock was 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 directly owns 8,362,128 shares in the company, valued at $1,917,017,844. This represents a 1.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence J. Schorr sold 7,333 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total value of $1,697,956.15. Following the completion of the sale, the director now owns 50,997 shares in the company, valued at $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DKS shares. Morgan Stanley lifted their price target on shares of DICK'S Sporting Goods from $245.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. Stifel Nicolaus reduced 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 report on Wednesday, March 12th. Guggenheim reiterated a "neutral" rating on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. TD Cowen raised their price objective on DICK'S Sporting Goods from $270.00 to $294.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Finally, 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. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $245.50.

About DICK'S Sporting Goods

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.