Mitsubishi UFJ Trust & Banking Corp Grows Stock Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Mitsubishi UFJ Trust & Banking Corp increased its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 2.0% during the 4th quarter, HoldingsChannel reports. The fund owned 83,427 shares of the sporting goods retailer’s stock after acquiring an additional 1,630 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in DICK’S Sporting Goods were worth $19,091,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds 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 4th quarter valued at about $545,000. Argus Investors Counsel Inc. bought a new position in DICK’S Sporting Goods during the 4th quarter valued at $257,000. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in 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 in the last quarter. Bridgewater Associates LP lifted its stake in DICK’S Sporting Goods by 245.7% during the third quarter. Bridgewater Associates LP now owns 6,002 shares of the sporting goods retailer’s stock valued at $1,253,000 after purchasing an additional 4,266 shares during the last quarter. Finally, Principal Securities Inc. lifted 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 valued at $821,000 after purchasing an additional 380 shares during the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

DICK’S Sporting Goods Stock Up 1.6 %

DICK’S Sporting Goods stock opened at $210.14 on Friday. 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, Inc. has a fifty-two week low of $182.84 and a fifty-two week high of $254.60. The company’s 50 day simple moving average is $223.71 and its 200 day simple moving average is $216.54. The firm has a market capitalization of $17.12 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.15. The business 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%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the business posted $3.85 earnings per share. As a group, sell-side analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods announced that its board has initiated a stock repurchase program on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $1.2125 dividend. 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 yield of 2.31%. The ex-dividend date of this dividend is Friday, March 28th. DICK’S Sporting Goods’s payout ratio is presently 34.54%.

Insider Activity at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was 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 $3,762,746.96. The trade was a 23.25 % decrease in their ownership of the stock. 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 dated Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the sale, the director now owns 50,997 shares of the company’s stock, valued at approximately $11,808,355.35. This represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,933 shares of company stock valued at $39,655,456. 32.03% of the stock is owned by insiders.

Analyst Ratings Changes

DKS has been the topic of a number of research analyst reports. Robert W. Baird lowered their price objective on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. TD Cowen raised 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. Argus upped their price target on DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Stifel Nicolaus decreased their target price on DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating on the stock in a research report on Wednesday, March 12th. Finally, Guggenheim reissued a “neutral” rating on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, DICK’S Sporting Goods has a consensus rating of “Moderate Buy” and a consensus 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.