Pictet Asset Management Holding SA Has $84 Million Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Pictet Asset Management Holding SA grew its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 367,052 shares of the sporting goods retailer’s stock after purchasing an additional 12,797 shares during the quarter. Pictet Asset Management Holding SA owned about 0.45% of DICK’S Sporting Goods worth $83,996,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. New Wave Wealth Advisors LLC acquired a new position in DICK’S Sporting Goods during the 4th quarter worth about $28,000. Brooklyn Investment Group bought a new position in shares of DICK’S Sporting Goods in the third quarter worth about $27,000. Rialto Wealth Management LLC bought a new position in shares of DICK’S Sporting Goods in the fourth quarter worth about $30,000. Sound Income Strategies LLC lifted its position in shares of DICK’S Sporting Goods by 590.0% during 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 in the last quarter. Finally, True Wealth Design LLC grew its stake in shares of DICK’S Sporting Goods by 2,900.0% during the third quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock valued at $31,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Trading Down 3.8 %

NYSE:DKS opened at $202.09 on Friday. 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’s 50-day simple moving average is $223.19 and its 200-day simple moving average is $216.56. DICK’S Sporting Goods, Inc. has a fifty-two week low of $182.84 and a fifty-two week high of $254.60. The stock has a market capitalization of $16.47 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last announced its 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 firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the company posted $3.85 EPS. Sell-side analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date 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 34.54%.

Insider Buying and Selling at DICK’S Sporting Goods

In related news, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction that occurred 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 owns 50,997 shares of the company’s stock, valued at approximately $11,808,355.35. This trade represents a 12.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $229.25, for a total value of $36,817,550.00. Following the transaction, the chairman now directly 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. Insiders have sold 172,933 shares of company stock valued at $39,655,456 in the last 90 days. 32.03% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DKS. Citigroup reaffirmed a “neutral” rating and set a $220.00 price objective (down previously from $230.00) on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Morgan Stanley upped their price target on DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. DA Davidson dropped their price objective on DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Guggenheim reaffirmed a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Finally, Robert W. Baird dropped their price target 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 assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $245.50.

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.