1,624 Shares in DICK’S Sporting Goods, Inc. (NYSE:DKS) Bought by Allstate Corp

Allstate Corp acquired a new stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,624 shares of the sporting goods retailer’s stock, valued at approximately $372,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DKS. New Wave Wealth Advisors LLC purchased a new position in shares of DICK’S Sporting Goods in the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new stake in DICK’S Sporting Goods in the fourth quarter valued at approximately $30,000. Sound Income Strategies LLC grew its holdings in DICK’S Sporting Goods by 590.0% in the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock worth $32,000 after purchasing an additional 118 shares during the last quarter. Promus Capital LLC acquired a new position in shares of DICK’S Sporting Goods during the fourth quarter worth $48,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of DICK’S Sporting Goods during the 4th quarter valued at $55,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Insider Activity

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK’S Sporting Goods stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $227.99, for a total value of $1,139,950.00. Following the sale, the executive vice president now owns 16,504 shares in the company, valued at $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Edward W. Stack sold 160,600 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the transaction, the chairman now owns 8,362,128 shares of the company’s stock, valued at approximately $1,917,017,844. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 32.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DKS shares. Telsey Advisory Group reaffirmed an “outperform” rating and set a $250.00 target price on shares of DICK’S Sporting Goods in a research report on Friday, March 14th. Argus increased 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 research report on Wednesday, January 29th. Robert W. Baird dropped their target price 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. Wedbush reaffirmed a “neutral” rating and issued a $215.00 price target on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Finally, Loop Capital lowered their price objective on shares of DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating for the company in a research note on Thursday, March 13th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $245.50.

DICK’S Sporting Goods Price Performance

NYSE:DKS opened at $211.53 on Thursday. 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 company has a 50 day moving average price of $221.61 and a 200-day moving average price of $216.45. DICK’S Sporting Goods, Inc. has a 1-year low of $182.84 and a 1-year high of $254.60. The firm has a market cap of $17.23 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, beating 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 company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the previous year, the company earned $3.85 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods declared that its Board of Directors has authorized a share repurchase 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 reacquire up to 18.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued 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 2.29%. The ex-dividend date of this dividend is Friday, March 28th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 34.54%.

DICK’S Sporting Goods Company 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.