Distillate Capital Partners LLC Takes $16.12 Million Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Distillate Capital Partners LLC bought a new position in DICK’S Sporting Goods, Inc. (NYSE:DKS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 70,428 shares of the sporting goods retailer’s stock, valued at approximately $16,117,000.

A number of other large investors have also bought and sold shares of the business. Wealthfront Advisers LLC bought a new stake in shares of DICK’S Sporting Goods during the fourth quarter worth $1,893,210,000. Norges Bank bought a new stake in DICK’S Sporting Goods during the 4th quarter worth about $221,693,000. Wellington Management Group LLP acquired a new stake in DICK’S Sporting Goods in the 4th quarter valued at about $125,285,000. KBC Group NV raised 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 worth $107,043,000 after acquiring an additional 217,390 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of DICK’S Sporting Goods during the fourth quarter worth approximately $23,791,000. 89.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley raised 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. Stifel Nicolaus dropped their target price on DICK’S Sporting Goods from $226.00 to $192.00 and set a “hold” rating for the company in a research report on Thursday. Argus raised their price target on DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Wedbush reissued a “neutral” rating and set a $215.00 price objective on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $250.00 target price on shares of DICK’S Sporting Goods in a research note on Friday, March 14th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.95.

Insider Activity at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the transaction, the executive vice president now owns 16,504 shares of the company’s stock, valued at $3,762,746.96. This represents a 23.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 32.03% of the stock is currently owned by insiders.

DICK’S Sporting Goods Stock Down 2.1 %

NYSE:DKS opened at $186.01 on Friday. DICK’S Sporting Goods, Inc. has a 1 year low of $166.37 and a 1 year high of $254.60. The stock has a 50-day moving average price of $210.74 and a two-hundred day moving average price of $214.58. The stock has a market cap of $14.85 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 2.47 and a beta of 1.32. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating 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 return on equity of 42.00% and a net margin of 8.65%. DICK’S Sporting Goods’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.85 EPS. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.61%. 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 dividend payout ratio (DPR) is presently 34.54%.

DICK’S Sporting Goods declared that its Board of Directors has approved a stock buyback program on Tuesday, March 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the sporting goods retailer to reacquire up to 18.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.