Norges Bank Acquires Shares of 968,770 DICK’S Sporting Goods, Inc. (NYSE:DKS)

Norges Bank bought a new position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 968,770 shares of the sporting goods retailer’s stock, valued at approximately $221,693,000. Norges Bank owned 1.19% of DICK’S Sporting Goods at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. New Wave Wealth Advisors LLC purchased a new stake in DICK’S Sporting Goods in the 4th quarter worth $28,000. Brooklyn Investment Group acquired a new position in shares of DICK’S Sporting Goods during the 3rd quarter worth about $27,000. Rialto Wealth Management LLC purchased a new position in DICK’S Sporting Goods in the 4th quarter valued at about $30,000. Sound Income Strategies LLC boosted its holdings in DICK’S Sporting Goods by 590.0% in the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock worth $32,000 after buying an additional 118 shares during the last quarter. Finally, True Wealth Design LLC boosted its holdings in DICK’S Sporting Goods by 2,900.0% in the 3rd quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock worth $31,000 after buying an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Analyst Ratings Changes

DKS has been the subject of a number of research analyst reports. Wedbush reissued a “neutral” rating and set a $215.00 target price on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Argus lifted 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 research note on Wednesday, January 29th. Loop Capital reduced their target price on shares of DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating for the company in a research report on Thursday, March 13th. DA Davidson dropped their price objective on shares of DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, Guggenheim reissued a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, DICK’S Sporting Goods currently has a consensus rating of “Moderate Buy” and an average price target of $245.50.

Insider Activity

In other news, Director Lawrence J. Schorr sold 7,333 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total value 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 trade represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the business’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 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 172,933 shares of company stock valued at $39,655,456. 32.03% of the stock is currently owned by company insiders.

DICK’S Sporting Goods Stock Performance

Shares of DKS stock opened at $202.09 on Monday. DICK’S Sporting Goods, Inc. has a one year low of $182.84 and a one year high of $254.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The firm’s 50 day moving average price is $223.19 and its 200-day moving average price is $216.62. The firm 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.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping the consensus estimate of $3.47 by $0.15. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company’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, equities research analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

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

DICK’S Sporting Goods announced that its board has authorized a share buyback program on Tuesday, March 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock buyback programs are usually 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.