Hsbc Holdings PLC Reduces Stake in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Hsbc Holdings PLC cut its stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 9.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,794 shares of the sporting goods retailer's stock after selling 8,841 shares during the quarter. Hsbc Holdings PLC owned 0.11% of DICK'S Sporting Goods worth $19,632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DKS. Stifel Financial Corp increased its position in DICK'S Sporting Goods by 126.6% in the 4th quarter. Stifel Financial Corp now owns 19,918 shares of the sporting goods retailer's stock valued at $4,558,000 after acquiring an additional 11,127 shares during the period. TD Waterhouse Canada Inc. increased its holdings in DICK'S Sporting Goods by 10.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 24,563 shares of the sporting goods retailer's stock valued at $5,621,000 after purchasing an additional 2,290 shares during the period. Tower Research Capital LLC TRC increased its holdings in DICK'S Sporting Goods by 39.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,521 shares of the sporting goods retailer's stock valued at $1,035,000 after purchasing an additional 1,285 shares during the period. MML Investors Services LLC increased its holdings in DICK'S Sporting Goods by 32.4% in the fourth quarter. MML Investors Services LLC now owns 5,483 shares of the sporting goods retailer's stock valued at $1,255,000 after purchasing an additional 1,342 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in DICK'S Sporting Goods by 8.8% in the fourth quarter. MetLife Investment Management LLC now owns 32,799 shares of the sporting goods retailer's stock valued at $7,506,000 after purchasing an additional 2,664 shares during the period. 89.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DKS. Guggenheim reiterated a "neutral" rating on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Loop Capital decreased their price target on DICK'S Sporting Goods from $240.00 to $195.00 and set a "hold" rating for the company in a report on Thursday, March 13th. Citigroup reiterated a "neutral" rating and set a $220.00 price target (down from $230.00) on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Wedbush reissued a "neutral" rating and set a $215.00 price objective on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Finally, Robert W. Baird cut their price objective on shares of DICK'S Sporting Goods from $235.00 to $230.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $241.61.

DICK'S Sporting Goods Stock Down 0.2 %

NYSE:DKS traded down $0.39 on Thursday, hitting $187.35. The stock had a trading volume of 937,292 shares, compared to its average volume of 1,164,029. The firm's fifty day simple moving average is $197.43 and its two-hundred day simple moving average is $212.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. DICK'S Sporting Goods, Inc. has a 1 year low of $166.37 and a 1 year high of $254.60. The stock has a market cap of $14.96 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 2.47 and a beta of 1.32.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.15. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.76 billion. DICK'S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. DICK'S Sporting Goods's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $3.85 EPS. Analysts predict that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $1.2125 per share. This is a boost from DICK'S Sporting Goods's previous quarterly dividend of $1.10. The ex-dividend date was Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a yield of 2.59%. DICK'S Sporting Goods's dividend payout ratio is 34.54%.

DICK'S Sporting Goods announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is 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.