New York State Teachers Retirement System Cuts Holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS)

New York State Teachers Retirement System cut its holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,815 shares of the sporting goods retailer's stock after selling 3,300 shares during the quarter. New York State Teachers Retirement System owned 0.09% of DICK'S Sporting Goods worth $14,072,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Independent Advisor Alliance grew its holdings in DICK'S Sporting Goods by 5.4% in the fourth quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer's stock worth $235,000 after purchasing an additional 53 shares during the period. EP Wealth Advisors LLC raised its holdings in shares of DICK'S Sporting Goods by 5.9% in the 4th quarter. EP Wealth Advisors LLC now owns 1,016 shares of the sporting goods retailer's stock worth $232,000 after acquiring an additional 57 shares during the last quarter. Pine Haven Investment Counsel Inc boosted its stake in DICK'S Sporting Goods by 4.9% during the 1st quarter. Pine Haven Investment Counsel Inc now owns 1,279 shares of the sporting goods retailer's stock valued at $258,000 after purchasing an additional 60 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of DICK'S Sporting Goods by 49.3% in the first quarter. Bessemer Group Inc. now owns 218 shares of the sporting goods retailer's stock worth $44,000 after purchasing an additional 72 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in DICK'S Sporting Goods by 42.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 255 shares of the sporting goods retailer's stock valued at $51,000 after acquiring an additional 76 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DKS. Barclays increased their target price on shares of DICK'S Sporting Goods from $217.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. Guggenheim reiterated a "neutral" rating on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Stifel Nicolaus dropped their target price on shares of DICK'S Sporting Goods from $226.00 to $192.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Citigroup reaffirmed a "neutral" rating on shares of DICK'S Sporting Goods in a report on Thursday, May 29th. Finally, DA Davidson reiterated a "buy" rating and set a $230.00 price target on shares of DICK'S Sporting Goods in a report on Friday, June 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, DICK'S Sporting Goods currently has an average rating of "Hold" and an average price target of $219.56.

DICK'S Sporting Goods Stock Performance

DKS traded down $0.36 during trading hours on Thursday, hitting $206.08. The stock had a trading volume of 680,794 shares, compared to its average volume of 1,289,533. DICK'S Sporting Goods, Inc. has a 1 year low of $166.37 and a 1 year high of $254.60. The company's fifty day simple moving average is $185.18 and its 200 day simple moving average is $205.74. The stock has a market cap of $16.50 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 2.94 and a beta of 1.07. The company has a quick ratio of 0.47, a current ratio of 1.62 and a debt-to-equity ratio of 0.49.

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 for the quarter, hitting the consensus estimate of $3.37. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.12 billion. DICK'S Sporting Goods had a net margin of 8.49% and a return on equity of 38.06%. Equities analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $1.2125 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $4.85 annualized dividend and a dividend yield of 2.35%. DICK'S Sporting Goods's dividend payout ratio is currently 34.69%.

DICK'S Sporting Goods declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Lauren R. Hobart sold 40,166 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $204.58, for a total transaction of $8,217,160.28. Following the sale, the chief executive officer directly owned 299,990 shares in the company, valued at approximately $61,371,954.20. The trade was a 11.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert W. Eddy bought 1,357 shares of DICK'S Sporting Goods stock in a transaction on Wednesday, June 25th. The shares were bought at an average cost of $185.31 per share, with a total value of $251,465.67. Following the acquisition, the director directly owned 4,768 shares in the company, valued at approximately $883,558.08. This represents a 39.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 46,563 shares of company stock valued at $9,462,628 over the last three months. Insiders own 32.55% of the company's stock.

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.