Strategic Wealth Partners Ltd. Takes $6.84 Million Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Strategic Wealth Partners Ltd. purchased a new stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 28,203 shares of the sporting goods retailer’s stock, valued at approximately $6,842,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Greenleaf Trust grew its stake in shares of DICK’S Sporting Goods by 3.0% during the fourth quarter. Greenleaf Trust now owns 1,721 shares of the sporting goods retailer’s stock valued at $394,000 after acquiring an additional 50 shares in the last quarter. Independent Advisor Alliance boosted its holdings in DICK’S Sporting Goods by 5.4% in the fourth quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer’s stock valued at $235,000 after purchasing an additional 53 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in DICK’S Sporting Goods by 2.2% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer’s stock valued at $577,000 after purchasing an additional 54 shares during the last quarter. EP Wealth Advisors LLC grew its stake in DICK’S Sporting Goods by 5.9% during the 4th quarter. EP Wealth Advisors LLC now owns 1,016 shares of the sporting goods retailer’s stock valued at $232,000 after purchasing an additional 57 shares in the last quarter. Finally, Stonegate Investment Group LLC increased its holdings in DICK’S Sporting Goods by 2.9% during the 4th quarter. Stonegate Investment Group LLC now owns 2,066 shares of the sporting goods retailer’s stock worth $473,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on DKS. Wells Fargo & Company increased their target price on DICK’S Sporting Goods from $171.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday. Citigroup reaffirmed a “neutral” rating and issued a $220.00 price target (down from $230.00) on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. DA Davidson reissued a “buy” rating and set a $273.00 price objective on shares of DICK’S Sporting Goods in a report on Friday. Stifel Nicolaus dropped their target price on shares of DICK’S Sporting Goods from $226.00 to $192.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Finally, Truist Financial set a $245.00 target price on shares of DICK’S Sporting Goods in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $229.79.

DICK’S Sporting Goods Trading Up 2.8%

Shares of NYSE:DKS opened at $184.01 on Friday. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average price is $192.01 and its 200 day moving average price is $211.39. The company has a market cap of $14.69 billion, a PE ratio of 13.15, a P/E/G ratio of 2.47 and a beta of 1.16. DICK’S Sporting Goods, Inc. has a fifty-two week low of $166.37 and a fifty-two week high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, beating the consensus estimate of $3.47 by $0.15. The company had revenue of $3.89 billion for 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%. DICK’S Sporting Goods’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business earned $3.85 earnings per share. Sell-side analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was 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 payout ratio is 34.54%.

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

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.