Man Group plc Reduces Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Man Group plc cut its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 88.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 25,932 shares of the sporting goods retailer’s stock after selling 198,055 shares during the quarter. Man Group plc’s holdings in DICK’S Sporting Goods were worth $5,934,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DKS. XTX Topco Ltd bought a new stake in DICK’S Sporting Goods during the 4th quarter valued at about $485,000. Argus Investors Counsel Inc. bought a new stake in DICK’S Sporting Goods during the 4th quarter valued at about $257,000. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in DICK’S Sporting Goods by 78.2% during 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 valued at $2,631,000 after buying an additional 5,046 shares in the last quarter. Principal Securities Inc. lifted its holdings in DICK’S Sporting Goods by 11.8% during the 4th 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 in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in DICK’S Sporting Goods by 15.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,144 shares of the sporting goods retailer’s stock valued at $491,000 after buying an additional 281 shares in the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

DICK’S Sporting Goods Trading Down 0.1%

NYSE:DKS opened at $182.67 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. DICK’S Sporting Goods, Inc. has a fifty-two week low of $166.37 and a fifty-two week high of $254.60. The stock’s 50-day moving average is $191.70 and its two-hundred day moving average is $211.22. The stock has a market cap of $14.59 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 2.47 and a beta of 1.16.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.15. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the company posted $3.85 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. As a group, equities research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.66%. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date was Friday, March 28th. DICK’S Sporting Goods’s dividend payout ratio is presently 34.54%.

DICK’S Sporting Goods announced that its Board of Directors has authorized a share repurchase plan on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding 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 a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on DKS shares. Truist Financial set a $245.00 price target on shares of DICK’S Sporting Goods in a report on Tuesday, March 11th. Gordon Haskett lowered shares of DICK’S Sporting Goods from a “buy” rating to a “reduce” rating and set a $170.00 price objective for the company. in a research note on Friday, May 16th. Wells Fargo & Company boosted their price objective on shares of DICK’S Sporting Goods from $171.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 14th. Stifel Nicolaus reduced their price objective on shares of DICK’S Sporting Goods from $226.00 to $192.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Finally, Wedbush reissued a “neutral” rating and set a $215.00 target price on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, DICK’S Sporting Goods presently has a consensus rating of “Hold” and an average price target of $229.47.

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.