Alliancebernstein L.P. Sells 179,458 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Alliancebernstein L.P. lessened its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 51.0% during the 4th quarter, Holdings Channel reports. The fund owned 172,374 shares of the sporting goods retailer’s stock after selling 179,458 shares during the period. Alliancebernstein L.P.’s holdings in DICK’S Sporting Goods were worth $39,446,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Townsquare Capital LLC grew its stake in DICK’S Sporting Goods by 9.2% in the third quarter. Townsquare Capital LLC now owns 1,298 shares of the sporting goods retailer’s stock valued at $271,000 after purchasing an additional 109 shares during the last quarter. Captrust Financial Advisors grew its position in shares of DICK’S Sporting Goods by 3.1% in the 3rd quarter. Captrust Financial Advisors now owns 7,968 shares of the sporting goods retailer’s stock worth $1,663,000 after buying an additional 237 shares during the last quarter. Benjamin Edwards Inc. purchased a new position in shares of DICK’S Sporting Goods in the 3rd quarter worth approximately $501,000. Janus Henderson Group PLC raised its stake in shares of DICK’S Sporting Goods by 9.7% during the 3rd quarter. Janus Henderson Group PLC now owns 10,046 shares of the sporting goods retailer’s stock worth $2,096,000 after acquiring an additional 891 shares in the last quarter. Finally, Quarry LP lifted its position in DICK’S Sporting Goods by 174.4% during the third quarter. Quarry LP now owns 494 shares of the sporting goods retailer’s stock valued at $103,000 after acquiring an additional 314 shares during the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the completion of the transaction, the chairman now directly owns 8,362,128 shares in the company, valued at approximately $1,917,017,844. This represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $1,139,950.00. Following the completion of the sale, the executive vice president now owns 16,504 shares in the company, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 32.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DKS. Telsey Advisory Group reaffirmed an “outperform” rating and set a $250.00 price target on shares of DICK’S Sporting Goods in a research report on Friday, March 14th. Loop Capital reduced their target price on DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating on the stock in a research report on Thursday, March 13th. Truist Financial set a $245.00 price target on DICK’S Sporting Goods in a report on Tuesday, March 11th. Wedbush restated a “neutral” rating and set a $215.00 price objective on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Finally, Robert W. Baird lowered their target price on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $245.50.

DICK’S Sporting Goods Stock Down 1.3 %

DICK’S Sporting Goods stock opened at $182.63 on Friday. The business’s 50-day moving average price is $219.03 and its 200 day moving average price is $216.05. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The firm has a market cap of $14.88 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods, Inc. has a 52 week low of $168.22 and a 52 week high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last issued 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 net margin of 8.65% and a return on equity of 42.00%. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the company earned $3.85 EPS. The business’s revenue was up .5% on a year-over-year basis. As a group, sell-side analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods announced that its board has approved a stock buyback program on Tuesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The company 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 boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a yield of 2.66%. DICK’S Sporting Goods’s payout ratio is presently 34.54%.

DICK’S Sporting Goods 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.