Artisan Partners Limited Partnership Boosts Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Artisan Partners Limited Partnership raised its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 16.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 407,355 shares of the sporting goods retailer’s stock after buying an additional 58,073 shares during the period. Artisan Partners Limited Partnership owned about 0.50% of DICK’S Sporting Goods worth $93,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Marion Wealth Management purchased a new stake in shares of DICK’S Sporting Goods in the fourth quarter valued at approximately $545,000. Argus Investors Counsel Inc. purchased a new stake in shares of DICK’S Sporting Goods in the 4th quarter worth $257,000. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in shares of DICK’S Sporting Goods by 78.2% in the 4th 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 buying an additional 5,046 shares during the period. Bridgewater Associates LP grew its position in shares of DICK’S Sporting Goods by 245.7% during the 3rd quarter. Bridgewater Associates LP now owns 6,002 shares of the sporting goods retailer’s stock worth $1,253,000 after buying an additional 4,266 shares in the last quarter. Finally, Principal Securities Inc. increased its stake 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 buying an additional 380 shares during the period. 89.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on DKS shares. Wedbush reaffirmed a “neutral” rating and issued a $215.00 price objective on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Guggenheim reaffirmed a “neutral” rating on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Argus lifted their price objective on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Robert W. Baird lowered their target price on DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Finally, Loop Capital cut their price target on DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating on the stock in a report on Thursday, March 13th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $245.50.

Insider Activity

In related news, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were 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 represents a 1.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence J. Schorr sold 7,333 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 50,997 shares of the company’s stock, valued at $11,808,355.35. This represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,933 shares of company stock valued at $39,655,456. Company insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Stock Performance

Shares of DICK’S Sporting Goods stock opened at $210.14 on Friday. The company has a 50 day moving average price of $223.71 and a 200 day moving average price of $216.54. The firm has a market capitalization of $17.12 billion, a P/E ratio of 15.02, a PEG ratio of 2.47 and a beta of 1.53. 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, Inc. has a 52 week low of $182.84 and a 52 week high of $254.60.

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. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company posted $3.85 earnings per share. Sell-side analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

The company 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 dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Friday, March 28th. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s payout ratio is presently 34.54%.

DICK’S Sporting Goods announced that its Board of Directors has authorized 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 often a sign that the company’s board believes its shares are undervalued.

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.