Pictet Asset Management Holding SA Has $84 Million Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Pictet Asset Management Holding SA lifted its position in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 367,052 shares of the sporting goods retailer’s stock after buying an additional 12,797 shares during the quarter. Pictet Asset Management Holding SA’s holdings in DICK’S Sporting Goods were worth $83,996,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in DICK’S Sporting Goods in the third quarter valued at approximately $27,000. New Wave Wealth Advisors LLC acquired a new position in shares of DICK’S Sporting Goods during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC bought a new stake in DICK’S Sporting Goods in the 4th quarter valued at $30,000. True Wealth Design LLC lifted its holdings in DICK’S Sporting Goods by 2,900.0% during the 3rd quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock valued at $31,000 after purchasing an additional 145 shares during the last quarter. Finally, Sound Income Strategies LLC increased its holdings in shares of DICK’S Sporting Goods by 590.0% in the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock valued at $32,000 after purchasing an additional 118 shares during the last quarter. 89.83% of the stock is owned by institutional investors.

Insider Activity at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction dated Friday, January 17th. The stock was 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 directly owns 16,504 shares in the company, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Edward W. Stack sold 160,600 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $229.25, for a total value of $36,817,550.00. Following the sale, the chairman now owns 8,362,128 shares in the company, valued at approximately $1,917,017,844. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,933 shares of company stock valued at $39,655,456 in the last quarter. Insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Trading Down 3.8 %

Shares of DKS stock opened at $202.09 on Friday. DICK’S Sporting Goods, Inc. has a fifty-two week low of $182.84 and a fifty-two week high of $254.60. The stock’s fifty day moving average price is $223.19 and its two-hundred day moving average price is $216.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The company has a market cap of $16.47 billion, a PE ratio of 14.45, a P/E/G ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.15. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. DICK’S Sporting Goods’s revenue was up .5% compared to the same quarter last year. During the same period last year, the firm posted $3.85 earnings per share. Equities analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods announced that its board has approved a stock repurchase program on Tuesday, March 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a yield of 2.40%. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 28th. DICK’S Sporting Goods’s dividend payout ratio is currently 34.54%.

Analyst Ratings Changes

Several brokerages have recently weighed in on DKS. TD Cowen increased their price objective on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Truist Financial set a $245.00 price objective on DICK’S Sporting Goods in a report on Tuesday, March 11th. DA Davidson lowered their target price on DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Citigroup restated a “neutral” rating and issued a $220.00 price target (down from $230.00) on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Finally, Loop Capital lowered their price objective on DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating on the stock in a research report on Thursday, March 13th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $245.50.

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.