Generali Asset Management SPA SGR Takes Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Generali Asset Management SPA SGR bought a new stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 503 shares of the sporting goods retailer’s stock, valued at approximately $115,000.

Several other institutional investors and hedge funds have also made changes to their positions in DKS. Wealthfront Advisers LLC purchased a new position in shares of DICK’S Sporting Goods in the fourth quarter valued at $1,893,210,000. Holocene Advisors LP purchased a new position in shares of DICK’S Sporting Goods in the third quarter valued at $70,562,000. KBC Group NV boosted its stake in shares of DICK’S Sporting Goods by 86.8% in the fourth quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer’s stock valued at $107,043,000 after purchasing an additional 217,390 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of DICK’S Sporting Goods by 1,718.2% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 200,000 shares of the sporting goods retailer’s stock valued at $41,740,000 after purchasing an additional 189,000 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in DICK’S Sporting Goods in the third quarter valued at $32,093,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at DICK’S Sporting Goods

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $227.99, for a total value of $1,139,950.00. Following the completion of the transaction, the executive vice president now owns 16,504 shares in the company, valued at $3,762,746.96. This represents a 23.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the completion of the transaction, the chairman now owns 8,362,128 shares of the company’s stock, valued at $1,917,017,844. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 172,933 shares of company stock worth $39,655,456 in the last 90 days. Corporate insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Stock Up 2.1 %

DICK’S Sporting Goods stock opened at $195.30 on Friday. The company has a 50-day simple moving average of $225.07 and a 200-day simple moving average of $216.84. The firm has a market capitalization of $15.91 billion, a P/E ratio of 13.96, a P/E/G ratio of 2.47 and a beta of 1.53. 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 one year low of $182.84 and a one year high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping the consensus estimate of $3.47 by $0.15. The business 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 company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.85 earnings per share. As a group, equities analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods declared that its board has authorized a stock buyback plan on Tuesday, March 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the sporting goods retailer to buy up to 18.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Friday, March 28th. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio is currently 34.54%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on DKS shares. Truist Financial set a $245.00 price target on shares of DICK’S Sporting Goods in a report on Tuesday, March 11th. UBS Group raised shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and upped their price target for the company from $225.00 to $260.00 in a report on Wednesday, November 27th. Morgan Stanley upped their price target on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Loop Capital cut their price target on shares of DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating on the stock in a report on Thursday, March 13th. Finally, TD Cowen upped their price target on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, DICK’S Sporting Goods presently has an average rating of “Moderate Buy” and a consensus price target of $245.50.

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.