Alliancebernstein L.P. Sells 179,458 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Alliancebernstein L.P. cut its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 51.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 172,374 shares of the sporting goods retailer’s stock after selling 179,458 shares during the period. Alliancebernstein L.P. owned 0.21% of DICK’S Sporting Goods worth $39,446,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wealthfront Advisers LLC purchased a new stake in shares of DICK’S Sporting Goods in the 4th quarter worth $1,893,210,000. State Street Corp increased its position in DICK’S Sporting Goods by 1.2% in the third quarter. State Street Corp now owns 2,259,133 shares of the sporting goods retailer’s stock worth $473,945,000 after buying an additional 27,155 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in DICK’S Sporting Goods by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,866,177 shares of the sporting goods retailer’s stock worth $427,056,000 after buying an additional 77,357 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of DICK’S Sporting Goods by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,042,782 shares of the sporting goods retailer’s stock worth $217,169,000 after buying an additional 10,640 shares during the period. Finally, Norges Bank purchased a new position in shares of DICK’S Sporting Goods during the 4th quarter valued at about $221,693,000. 89.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $229.25, for a total value of $36,817,550.00. Following the transaction, the chairman now owns 8,362,128 shares of the company’s stock, valued at $1,917,017,844. This represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK’S Sporting Goods stock in a transaction 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 approximately $3,762,746.96. This trade represents 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 insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DKS shares. TD Cowen raised their target price on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Telsey Advisory Group restated an “outperform” rating and set a $250.00 price objective on shares of DICK’S Sporting Goods in a research report on Friday, March 14th. Wedbush reaffirmed a “neutral” rating and issued a $215.00 target price on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Loop Capital decreased their price target on DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating on the stock in a report on Thursday, March 13th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $220.00 price objective (down previously from $230.00) on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $245.50.

DICK’S Sporting Goods Stock Performance

DICK’S Sporting Goods stock opened at $182.63 on Friday. DICK’S Sporting Goods, Inc. has a 1-year low of $168.22 and a 1-year high of $254.60. The company’s 50-day moving average is $219.03 and its 200 day moving average is $216.05. The firm has a market capitalization of $14.88 billion, a P/E ratio of 13.05, a price-to-earnings-growth 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.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.15. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $3.85 earnings per share. Research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods announced that its board has authorized a stock repurchase plan on Tuesday, March 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits 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 of directors believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $1.2125 dividend. The ex-dividend date is Friday, March 28th. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.66%. DICK’S Sporting Goods’s dividend payout ratio is presently 34.54%.

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.