Geode Capital Management LLC Purchases 15,011 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Geode Capital Management LLC grew its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,057,793 shares of the sporting goods retailer’s stock after acquiring an additional 15,011 shares during the quarter. Geode Capital Management LLC owned about 1.30% of DICK’S Sporting Goods worth $241,660,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Wave Wealth Advisors LLC bought a new position in DICK’S Sporting Goods during the fourth quarter valued at $28,000. Rialto Wealth Management LLC bought a new stake in shares of DICK’S Sporting Goods in the 4th quarter worth about $30,000. Sound Income Strategies LLC raised 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 buying an additional 118 shares in the last quarter. Promus Capital LLC bought a new position in shares of DICK’S Sporting Goods in the 4th quarter valued at about $48,000. Finally, SBI Securities Co. Ltd. purchased a new position in DICK’S Sporting Goods in the fourth quarter worth about $55,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DICK’S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $227.99, for a total value of $1,139,950.00. Following the completion of the sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at $3,762,746.96. This trade represents a 23.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the business’s stock in a transaction 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 in the company, valued at approximately $1,917,017,844. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 32.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DKS shares. Morgan Stanley upped their price objective on 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. Citigroup restated a “neutral” rating and set a $220.00 price target (down previously from $230.00) on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Telsey Advisory Group reaffirmed 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. TD Cowen increased their target price on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Argus raised their target price on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $245.50.

DICK’S Sporting Goods Stock Down 1.3 %

Shares of NYSE:DKS opened at $182.63 on Friday. The business’s 50 day moving average is $219.03 and its 200 day moving average is $216.05. The stock has a market cap 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. DICK’S Sporting Goods, Inc. has a 52-week low of $168.22 and a 52-week high of $254.60. 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 (NYSE:DKS) last issued its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $3.76 billion. During the same period in the prior year, the business earned $3.85 EPS. The firm’s quarterly revenue was up .5% on a year-over-year basis. Sell-side analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods announced that its Board of Directors has authorized a share buyback program 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 reacquire up to 18.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The company 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 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%. The ex-dividend date is Friday, March 28th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is currently 34.54%.

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.