Vanguard Group Inc. Buys 13,293 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Vanguard Group Inc. grew its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,379,006 shares of the sporting goods retailer’s stock after buying an additional 13,293 shares during the period. Vanguard Group Inc. owned 0.07% of DICK’S Sporting Goods worth $1,230,932,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in DKS. New Wave Wealth Advisors LLC bought a new stake in DICK’S Sporting Goods in the fourth quarter valued at approximately $28,000. Brooklyn Investment Group bought a new stake in shares of DICK’S Sporting Goods in the 3rd quarter valued at $27,000. Rialto Wealth Management LLC acquired a new stake in shares of DICK’S Sporting Goods during the fourth quarter worth $30,000. Sound Income Strategies LLC increased its position in shares of DICK’S Sporting Goods by 590.0% during the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock worth $32,000 after buying an additional 118 shares during the period. Finally, True Wealth Design LLC raised its stake in DICK’S Sporting Goods by 2,900.0% during the third quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock worth $31,000 after buying an additional 145 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors.

DICK’S Sporting Goods Stock Up 1.6 %

DICK’S Sporting Goods stock opened at $210.14 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 company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The firm’s 50-day simple moving average is $223.71 and its 200 day simple moving average is $216.54. The stock has a market cap of $17.12 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last announced its earnings results 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. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the business earned $3.85 EPS. The company’s revenue was up .5% compared to the same quarter last year. Research analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods declared that its board has authorized a share repurchase plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management 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 issued a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Friday, March 28th. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 34.54%.

Insider Activity

In related news, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the transaction, the chairman now directly owns 8,362,128 shares in the company, 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 valued at $39,655,456 in the last three months. Company insiders own 32.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DKS. DA Davidson decreased their price target on DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Truist Financial set a $245.00 target price on DICK’S Sporting Goods in a report on Tuesday, March 11th. Argus raised their price objective on shares of 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. Robert W. Baird dropped their target price 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. Finally, TD Cowen raised their price target on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, DICK’S Sporting Goods currently has an average rating of “Moderate Buy” and an average price target of $245.50.

DICK’S Sporting Goods Company 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.