Redwood Investment Management LLC Trims Stock Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Redwood Investment Management LLC cut its position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 93.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,371 shares of the sporting goods retailer's stock after selling 19,384 shares during the quarter. Redwood Investment Management LLC's holdings in DICK'S Sporting Goods were worth $314,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. XTX Topco Ltd bought a new position in DICK'S Sporting Goods during the fourth quarter worth $485,000. Argus Investors Counsel Inc. purchased a new stake in shares of DICK'S Sporting Goods in the fourth quarter valued at about $257,000. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in shares of DICK'S Sporting Goods by 78.2% in the fourth 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. Principal Securities Inc. increased its holdings in DICK'S Sporting Goods by 11.8% during the fourth quarter. Principal Securities Inc. now owns 3,589 shares of the sporting goods retailer's stock worth $821,000 after buying an additional 380 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in DICK'S Sporting Goods by 15.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,144 shares of the sporting goods retailer's stock worth $491,000 after buying an additional 281 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

DICK'S Sporting Goods Price Performance

DICK'S Sporting Goods stock traded down $0.16 during mid-day trading on Tuesday, hitting $182.67. 1,942,809 shares of the company traded hands, compared to its average volume of 1,240,004. DICK'S Sporting Goods, Inc. has a one year low of $166.37 and a one year high of $254.60. The stock has a market cap of $14.59 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 2.47 and a beta of 1.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The stock has a fifty day moving average price of $191.78 and a 200-day moving average price of $211.42.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its quarterly earnings data 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. The firm 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%. The business's quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $3.85 EPS. On average, equities analysts predict that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods announced that its board has approved a share buyback plan on Tuesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.

DICK'S Sporting Goods Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.66%. This is a positive change from DICK'S Sporting Goods's previous quarterly dividend of $1.10. The ex-dividend date was Friday, March 28th. DICK'S Sporting Goods's payout ratio is presently 34.54%.

Analyst Ratings Changes

DKS has been the subject of a number of research analyst reports. Citigroup restated a "neutral" rating and set a $220.00 price objective (down previously from $230.00) on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. StockNews.com upgraded shares of DICK'S Sporting Goods from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Gordon Haskett downgraded shares of DICK'S Sporting Goods from a "buy" rating to a "reduce" rating and set a $170.00 target price for the company. in a research note on Friday. Robert W. Baird reduced their target price on shares of DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating for the company in a research note on Friday. Finally, Loop Capital reduced their target price on shares of DICK'S Sporting Goods from $195.00 to $180.00 and set a "hold" rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, DICK'S Sporting Goods presently has a consensus rating of "Hold" and a consensus target price of $229.47.

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.