Dark Forest Capital Management LP Decreases Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Dark Forest Capital Management LP decreased its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,855 shares of the sporting goods retailer’s stock after selling 129 shares during the quarter. Dark Forest Capital Management LP’s holdings in DICK’S Sporting Goods were worth $424,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Wealthfront Advisers LLC purchased a new stake in DICK’S Sporting Goods during the 4th quarter valued at about $1,893,210,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of DICK’S Sporting Goods by 4.3% during 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 purchasing an additional 77,357 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of DICK’S Sporting Goods by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,057,793 shares of the sporting goods retailer’s stock valued at $241,660,000 after purchasing an additional 15,011 shares during the last quarter. Norges Bank purchased a new position in DICK’S Sporting Goods during the fourth quarter worth approximately $221,693,000. Finally, Dimensional Fund Advisors LP boosted its stake in DICK’S Sporting Goods by 10.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 881,620 shares of the sporting goods retailer’s stock worth $201,768,000 after buying an additional 86,064 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DKS. Telsey Advisory Group reiterated an “outperform” rating and set a $250.00 price target on shares of DICK’S Sporting Goods in a report on Friday, March 14th. StockNews.com downgraded shares of DICK’S Sporting Goods from a “hold” rating to a “sell” rating in a research note on Tuesday, April 22nd. Wedbush reissued a “neutral” rating and issued a $215.00 price target on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Robert W. Baird reduced 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, Argus upped their price objective on DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $244.72.

DICK’S Sporting Goods Stock Performance

Shares of DICK’S Sporting Goods stock opened at $187.99 on Friday. The stock has a market capitalization of $15.01 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 2.47 and a beta of 1.32. 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 has a 50-day moving average of $199.77 and a 200 day moving average of $212.89. DICK’S Sporting Goods, Inc. has a 12 month low of $166.37 and a 12 month high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, beating the consensus estimate 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 quarter last year, the firm posted $3.85 earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, sell-side analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods declared that its board has initiated a share buyback plan on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $1.2125 per share. The ex-dividend date was Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.58%. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio is currently 34.54%.

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.