Bank of America Corp DE Sells 165,742 Shares of DICK'S Sporting Goods, Inc. (NYSE:DKS)

Bank of America Corp DE cut its holdings in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 34.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 316,427 shares of the sporting goods retailer's stock after selling 165,742 shares during the quarter. Bank of America Corp DE owned 0.39% of DICK'S Sporting Goods worth $72,411,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. XTX Topco Ltd acquired a new position in shares of DICK'S Sporting Goods in the 4th quarter valued at approximately $485,000. Marion Wealth Management bought a new position in DICK'S Sporting Goods in the fourth quarter valued at about $545,000. Argus Investors Counsel Inc. bought a new position in shares of DICK'S Sporting Goods in the fourth quarter worth about $257,000. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its holdings in shares of 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 purchasing an additional 5,046 shares during the last quarter. Finally, Principal Securities Inc. boosted its position in DICK'S Sporting Goods by 11.8% in the fourth 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. 89.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Robert W. Baird dropped their price target on DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating for the company in a research note on Friday. Wells Fargo & Company lifted their price target on DICK'S Sporting Goods from $171.00 to $187.00 and gave the company an "equal weight" rating in a research note on Wednesday. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $250.00 price objective on shares of DICK'S Sporting Goods in a research note on Thursday. Citigroup reiterated a "neutral" rating and issued a $220.00 price objective (down previously from $230.00) on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Finally, Argus increased 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 investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $229.79.

DICK'S Sporting Goods Stock Up 2.8%

NYSE:DKS traded up $4.96 during trading hours on Friday, reaching $184.01. The company had a trading volume of 4,265,940 shares, compared to its average volume of 1,228,029. The business's 50-day simple moving average is $192.32 and its two-hundred day simple moving average is $211.44. DICK'S Sporting Goods, Inc. has a twelve month low of $166.37 and a twelve month high of $254.60. The firm has a market cap of $14.69 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 2.47 and a beta of 1.16. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share 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 business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the prior year, the business earned $3.85 EPS. The firm's revenue for the quarter was up .5% on a year-over-year basis. On average, equities analysts expect that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $1.2125 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $4.85 annualized dividend and a yield of 2.64%. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.10. DICK'S Sporting Goods's dividend payout ratio (DPR) is presently 34.54%.

DICK'S Sporting Goods declared that its board has authorized a stock buyback program on Tuesday, March 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the sporting goods retailer to reacquire up to 18.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

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.