Mitsubishi UFJ Asset Management Co. Ltd. Has $10.18 Million Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 12.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,409 shares of the sporting goods retailer’s stock after purchasing an additional 4,970 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in DICK’S Sporting Goods were worth $10,175,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DKS. Korea Investment CORP grew its stake in DICK’S Sporting Goods by 79.8% in the 4th quarter. Korea Investment CORP now owns 58,601 shares of the sporting goods retailer’s stock valued at $13,410,000 after buying an additional 26,004 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of DICK’S Sporting Goods in the fourth quarter valued at about $435,000. TrueMark Investments LLC increased its stake in shares of DICK’S Sporting Goods by 66.5% in the fourth quarter. TrueMark Investments LLC now owns 13,645 shares of the sporting goods retailer’s stock worth $3,123,000 after purchasing an additional 5,450 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of DICK’S Sporting Goods by 2.0% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 83,427 shares of the sporting goods retailer’s stock worth $19,091,000 after purchasing an additional 1,630 shares during the last quarter. Finally, Keystone Investors PTE Ltd. acquired a new position in shares of DICK’S Sporting Goods during the 4th quarter worth about $3,556,000. Institutional investors own 89.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. DA Davidson dropped their price target on DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Stifel Nicolaus dropped their target price on shares of 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. Guggenheim reiterated a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Robert W. Baird decreased their price target 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. Finally, Citigroup reaffirmed a “neutral” rating and set a $220.00 price objective (down previously from $230.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $245.50.

Insider Transactions at DICK’S Sporting Goods

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK’S Sporting Goods stock in a transaction dated 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 transaction, the executive vice president now directly 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lawrence J. Schorr sold 7,333 shares of the 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 directly owns 50,997 shares in the company, 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. Insiders have sold 172,933 shares of company stock valued at $39,655,456 in the last three months. 32.03% of the stock is owned by corporate insiders.

DICK’S Sporting Goods Stock Performance

Shares of NYSE:DKS opened at $201.90 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The business’s fifty day moving average price is $222.67 and its two-hundred day moving average price is $216.56. DICK’S Sporting Goods, Inc. has a fifty-two week low of $182.84 and a fifty-two week high of $254.60. The stock has a market capitalization of $16.45 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last posted its 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 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.85 EPS. As a group, analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $1.2125 dividend. The ex-dividend date is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.40%. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s payout ratio is 34.54%.

DICK’S Sporting Goods declared that its Board of Directors has approved a share buyback plan on Tuesday, March 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.