MeadowBrook Investment Advisors LLC Acquires New Stake in DICK'S Sporting Goods, Inc. (NYSE:DKS)

MeadowBrook Investment Advisors LLC acquired a new position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 1,320 shares of the sporting goods retailer's stock, valued at approximately $266,000.

Several other large investors also recently bought and sold shares of DKS. Wealthfront Advisers LLC acquired a new position in DICK'S Sporting Goods in the fourth quarter valued at approximately $1,893,210,000. Geode Capital Management LLC lifted its holdings in DICK'S Sporting Goods by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,057,793 shares of the sporting goods retailer's stock valued at $241,660,000 after acquiring an additional 15,011 shares during the last quarter. Norges Bank acquired a new position in DICK'S Sporting Goods in the fourth quarter valued at approximately $221,693,000. Dimensional Fund Advisors LP lifted its holdings in DICK'S Sporting Goods by 10.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 881,620 shares of the sporting goods retailer's stock valued at $201,768,000 after acquiring an additional 86,064 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in DICK'S Sporting Goods by 5.1% in the fourth quarter. JPMorgan Chase & Co. now owns 652,838 shares of the sporting goods retailer's stock valued at $149,396,000 after acquiring an additional 31,919 shares during the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on DKS shares. Wall Street Zen upgraded DICK'S Sporting Goods from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Robert W. Baird decreased their price target on DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating on the stock in a research note on Friday, May 16th. UBS Group decreased their price target on DICK'S Sporting Goods from $260.00 to $225.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Loop Capital reduced their price objective on DICK'S Sporting Goods from $195.00 to $180.00 and set a "hold" rating on the stock in a research note on Friday, May 16th. Finally, Stifel Nicolaus reduced their price objective on DICK'S Sporting Goods from $226.00 to $192.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $219.56.

Insider Transactions at DICK'S Sporting Goods

In related news, EVP Julie Lodge-Jarrett sold 1,026 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $203.50, for a total transaction of $208,791.00. Following the completion of the sale, the executive vice president directly owned 18,139 shares of the company's stock, valued at approximately $3,691,286.50. This represents a 5.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lauren R. Hobart sold 40,166 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $204.58, for a total transaction of $8,217,160.28. Following the completion of the transaction, the chief executive officer directly owned 299,990 shares of the company's stock, valued at approximately $61,371,954.20. The trade was a 11.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,563 shares of company stock valued at $9,462,628. Corporate insiders own 32.55% of the company's stock.

DICK'S Sporting Goods Price Performance

Shares of NYSE:DKS traded up $3.22 during trading on Wednesday, hitting $210.89. 1,359,895 shares of the stock were exchanged, compared to its average volume of 1,294,581. The company has a fifty day moving average price of $186.53 and a two-hundred day moving average price of $205.26. The company has a market cap of $16.88 billion, a PE ratio of 15.09, a P/E/G ratio of 2.95 and a beta of 1.07. The company has a current ratio of 1.62, a quick ratio of 0.47 and a debt-to-equity ratio of 0.49. DICK'S Sporting Goods, Inc. has a 12-month low of $166.37 and a 12-month high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $3.37. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.12 billion. DICK'S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. On average, analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK'S Sporting Goods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $1.2125 per share. The ex-dividend date was Friday, June 13th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.30%. DICK'S Sporting Goods's payout ratio is 34.69%.

DICK'S Sporting Goods announced that its Board of Directors has initiated a stock repurchase program 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 reacquire up to 18.5% of its shares through open market purchases. Shares repurchase programs are generally 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.