Teacher Retirement System of Texas Has $31.64 Million Stock Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Teacher Retirement System of Texas reduced its position in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 6.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 138,270 shares of the sporting goods retailer’s stock after selling 9,908 shares during the period. Teacher Retirement System of Texas’ holdings in DICK’S Sporting Goods were worth $31,642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in DKS. Wealthfront Advisers LLC acquired a new stake in shares of DICK’S Sporting Goods in the 4th quarter valued at $1,893,210,000. Holocene Advisors LP acquired a new stake in shares of DICK’S Sporting Goods in the 3rd quarter valued at $70,562,000. KBC Group NV increased its stake in shares of DICK’S Sporting Goods by 86.8% in the 4th quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer’s stock valued at $107,043,000 after buying an additional 217,390 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of DICK’S Sporting Goods by 1,718.2% in the 3rd 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 buying an additional 189,000 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of DICK’S Sporting Goods in the 3rd quarter valued at $32,093,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Stifel Nicolaus reduced their price target on DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating on the stock in a research report on Wednesday, March 12th. Guggenheim restated a “neutral” rating on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Robert W. Baird reduced their price target on 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. Argus raised their price target on DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $250.00 price target on shares of DICK’S Sporting Goods in a research report on Friday, March 14th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $245.50.

DICK’S Sporting Goods Stock Performance

Shares of DICK’S Sporting Goods stock opened at $191.25 on Friday. The firm has a market cap of $15.58 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. The stock’s 50-day moving average is $225.77 and its 200-day moving average is $217.13. DICK’S Sporting Goods, Inc. has a one year low of $182.84 and a one year high of $254.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56.

DICK’S Sporting Goods (NYSE:DKS) last released its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.15. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.85 earnings per share. 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 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. The ex-dividend date of this dividend is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.54%. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s payout ratio is currently 34.54%.

DICK’S Sporting Goods declared that its Board of Directors has authorized a share 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 reacquire up to 18.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at DICK’S Sporting Goods

In related news, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total value of $1,697,956.15. Following the sale, the director now owns 50,997 shares of the company’s stock, valued at approximately $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK’S Sporting Goods 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 sale, the executive vice president now directly owns 16,504 shares in the company, valued at approximately $3,762,746.96. This represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,933 shares of company stock valued at $39,655,456. 32.03% of the stock is owned by insiders.

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.