DICK’S Sporting Goods, Inc. (NYSE:DKS) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,098 shares of the sporting goods retailer’s stock after selling 153 shares during the period. Maryland State Retirement & Pension System’s holdings in DICK’S Sporting Goods were worth $709,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of DKS. Brooklyn Investment Group purchased a new stake in DICK’S Sporting Goods in the 3rd quarter valued at $27,000. New Wave Wealth Advisors LLC acquired a new position in DICK’S Sporting Goods in the fourth quarter valued at $28,000. Rialto Wealth Management LLC purchased a new stake in shares of DICK’S Sporting Goods in the fourth quarter valued at about $30,000. True Wealth Design LLC boosted its stake in shares of DICK’S Sporting Goods by 2,900.0% during the third quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock worth $31,000 after buying an additional 145 shares during the period. Finally, Sound Income Strategies LLC grew its holdings in shares of DICK’S Sporting Goods by 590.0% during the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock worth $32,000 after buying an additional 118 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’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 transaction of $1,139,950.00. Following the transaction, the executive vice president now owns 16,504 shares of the company’s stock, valued at approximately $3,762,746.96. This represents a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of DICK’S Sporting Goods stock in a transaction that occurred 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 sale, the chairman now directly owns 8,362,128 shares of the company’s stock, valued at $1,917,017,844. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 172,933 shares of company stock worth $39,655,456 over the last three months. 32.03% of the stock is currently owned by corporate insiders.

DICK’S Sporting Goods Price Performance

DICK’S Sporting Goods stock opened at $206.06 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The firm’s 50-day simple moving average is $224.69 and its 200 day simple moving average is $216.65. DICK’S Sporting Goods, Inc. has a 52 week low of $182.84 and a 52 week high of $254.60. The firm has a market capitalization of $16.79 billion, a PE ratio of 14.73, a P/E/G ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm earned $3.85 earnings per share. The company’s revenue for the quarter 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 EPS for the current fiscal year.

DICK’S Sporting Goods announced that its board has approved a stock repurchase plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the sporting goods retailer to reacquire up to 18.5% of its stock through open market purchases. Stock repurchase 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 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. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.35%. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 28th. DICK’S Sporting Goods’s payout ratio is 34.54%.

Analyst Upgrades and Downgrades

DKS has been the subject of several analyst reports. Stifel Nicolaus reduced their price objective on DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating for the company in a research note 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 for the company in a report on Thursday, March 13th. Wedbush reiterated a “neutral” rating and issued a $215.00 price objective on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Telsey Advisory Group restated an “outperform” rating and issued a $250.00 target price on shares of DICK’S Sporting Goods in a research note on Friday, March 14th. Finally, UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $225.00 to $260.00 in a research note on Wednesday, November 27th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $245.50.

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.