DICK’S Sporting Goods, Inc. (NYSE:DKS) Position Boosted by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC grew its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 151.8% in the fourth quarter, HoldingsChannel reports. The fund owned 66,185 shares of the sporting goods retailer’s stock after buying an additional 39,900 shares during the period. Brandywine Global Investment Management LLC’s holdings in DICK’S Sporting Goods were worth $15,146,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Wealthfront Advisers LLC bought a new stake in shares of DICK’S Sporting Goods during the fourth quarter valued at about $1,893,210,000. State Street Corp raised its position in shares of DICK’S Sporting Goods by 1.2% during the 3rd 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. lifted its stake in shares of DICK’S Sporting Goods by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,866,177 shares of the sporting goods retailer’s stock worth $427,056,000 after acquiring an additional 77,357 shares during the period. Geode Capital Management LLC lifted its stake in shares of DICK’S Sporting Goods by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,042,782 shares of the sporting goods retailer’s stock worth $217,169,000 after acquiring an additional 10,640 shares during the period. Finally, Norges Bank bought a new position in shares of DICK’S Sporting Goods in the fourth quarter valued at approximately $221,693,000. Institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Stock Down 3.8 %

Shares of DICK’S Sporting Goods stock opened at $202.09 on Monday. DICK’S Sporting Goods, Inc. has a 1 year low of $182.84 and a 1 year high of $254.60. The company has a market cap of $16.47 billion, a P/E ratio of 14.45, a P/E/G ratio of 2.47 and a beta of 1.53. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average price of $223.19 and a 200 day moving average price of $216.62.

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 (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the prior year, the firm earned $3.85 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. As a group, analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods declared that its board has authorized a share repurchase plan 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 plans are often a sign that the company’s management 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 dividend of $1.2125 per share. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Friday, March 28th. DICK’S Sporting Goods’s payout ratio is currently 34.54%.

Insider Transactions at DICK’S Sporting Goods

In related news, Chairman Edward W. Stack sold 160,600 shares of the business’s 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 completion of the sale, the chairman now owns 8,362,128 shares of the company’s stock, valued at approximately $1,917,017,844. The trade was a 1.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’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 directly owns 16,504 shares in the company, valued at approximately $3,762,746.96. The trade was a 23.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 172,933 shares of company stock valued at $39,655,456. 32.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DKS shares. Morgan Stanley boosted their target price on DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Telsey Advisory Group restated an “outperform” rating and issued a $250.00 price objective on shares of DICK’S Sporting Goods in a report on Friday, March 14th. Citigroup reaffirmed a “neutral” rating and set a $220.00 target price (down from $230.00) on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Truist Financial set a $245.00 price target on shares of DICK’S Sporting Goods in a report on Tuesday, March 11th. Finally, TD Cowen lifted their price objective 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. Nine equities 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $245.50.

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.