Geode Capital Management LLC Boosts Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Geode Capital Management LLC increased its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 1.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,057,793 shares of the sporting goods retailer’s stock after buying an additional 15,011 shares during the quarter. Geode Capital Management LLC’s holdings in DICK’S Sporting Goods were worth $241,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in DKS. Marion Wealth Management acquired a new position in shares of DICK’S Sporting Goods in the fourth quarter valued at about $545,000. Argus Investors Counsel Inc. acquired a new stake in DICK’S Sporting Goods during the 4th quarter valued at approximately $257,000. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in shares of DICK’S Sporting Goods by 78.2% in the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,495 shares of the sporting goods retailer’s stock worth $2,631,000 after acquiring an additional 5,046 shares during the period. Principal Securities Inc. raised its holdings in shares of DICK’S Sporting Goods by 11.8% during the fourth quarter. Principal Securities Inc. now owns 3,589 shares of the sporting goods retailer’s stock worth $821,000 after purchasing an additional 380 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in DICK’S Sporting Goods by 15.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,144 shares of the sporting goods retailer’s stock valued at $491,000 after purchasing an additional 281 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Telsey Advisory Group reiterated an “outperform” rating and set a $250.00 price objective on shares of DICK’S Sporting Goods in a research note on Friday, March 14th. Loop Capital decreased their price target on DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating for the company in a report on Thursday, March 13th. TD Cowen upped their price objective on DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. DA Davidson cut their target price on shares of DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Finally, Truist Financial set a $245.00 price target on shares of DICK’S Sporting Goods in a research report on Tuesday, March 11th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $245.50.

Insiders Place Their Bets

In related news, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 8,362,128 shares in the company, valued at approximately $1,917,017,844. This trade represents a 1.88 % 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, EVP Julie Lodge-Jarrett sold 5,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 16,504 shares in the company, valued at $3,762,746.96. The trade was 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 1.3 %

Shares of DKS stock opened at $182.63 on Friday. DICK’S Sporting Goods, Inc. has a fifty-two week low of $168.22 and a fifty-two week high of $254.60. The firm has a market capitalization of $14.88 billion, a P/E ratio of 13.05, a PEG ratio of 2.47 and a beta of 1.53. The stock’s fifty day moving average is $219.03 and its two-hundred day moving average is $216.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly 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. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. DICK’S Sporting Goods’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $3.85 earnings per share. Research analysts expect 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $1.2125 per share. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a yield of 2.66%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 34.54%.

DICK’S Sporting Goods declared that its board has approved a share repurchase plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is 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.