Man Group plc Sells 198,055 Shares of DICK'S Sporting Goods, Inc. (NYSE:DKS)

Man Group plc reduced its stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 88.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. 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 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. New Wave Wealth Advisors LLC acquired a new stake in DICK'S Sporting Goods in the fourth quarter valued at approximately $28,000. Ancora Advisors LLC bought a new position in DICK'S Sporting Goods during the fourth quarter worth $28,000. Rialto Wealth Management LLC bought a new position in DICK'S Sporting Goods during the fourth quarter worth $30,000. Sound Income Strategies LLC increased its position in 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 acquiring an additional 118 shares during the period. Finally, Bessemer Group Inc. increased its position in DICK'S Sporting Goods by 108.6% during the fourth quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock worth $33,000 after acquiring an additional 76 shares during the period. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Citigroup reaffirmed a "neutral" rating and set a $220.00 target price (down previously from $230.00) on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Truist Financial set a $245.00 price target on shares of DICK'S Sporting Goods in a report on Tuesday, March 11th. Loop Capital lowered their target price on shares of DICK'S Sporting Goods from $195.00 to $180.00 and set a "hold" rating on the stock in a report on Friday, May 16th. DA Davidson reiterated a "buy" rating and set a $273.00 price target on shares of DICK'S Sporting Goods in a research report on Friday, May 16th. Finally, Argus upped their price target on shares of DICK'S Sporting Goods from $255.00 to $280.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, DICK'S Sporting Goods currently has a consensus rating of "Hold" and an average target price of $229.47.

DICK'S Sporting Goods Trading Down 2.9%

Shares of NYSE:DKS traded down $5.04 during mid-day trading on Friday, reaching $167.36. The stock had a trading volume of 1,834,394 shares, compared to its average volume of 1,251,977. The firm has a 50 day simple moving average of $190.30 and a two-hundred day simple moving average of $210.60. DICK'S Sporting Goods, Inc. has a twelve month low of $166.37 and a twelve month high of $254.60. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The firm has a market cap of $13.37 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 2.47 and a beta of 1.16.

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

DICK'S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a dividend of $1.2125 per share. This is a boost from DICK'S Sporting Goods's previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend was Friday, March 28th. DICK'S Sporting Goods's dividend payout ratio (DPR) is currently 34.54%.

DICK'S Sporting Goods declared that its Board of Directors has authorized a stock repurchase program on Tuesday, March 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the sporting goods retailer to purchase up to 18.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.

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.