Bridgewater Associates LP Increases Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Bridgewater Associates LP grew its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 4.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,251 shares of the sporting goods retailer’s stock after acquiring an additional 249 shares during the quarter. Bridgewater Associates LP’s holdings in DICK’S Sporting Goods were worth $1,430,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Marion Wealth Management purchased a new stake in shares of DICK’S Sporting Goods during the 4th quarter worth approximately $545,000. Argus Investors Counsel Inc. purchased a new position in shares of DICK’S Sporting Goods during the fourth quarter worth about $257,000. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its position in shares of DICK’S Sporting Goods by 78.2% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,495 shares of the sporting goods retailer’s stock worth $2,631,000 after purchasing an additional 5,046 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of DICK’S Sporting Goods by 11.8% in the 4th quarter. Principal Securities Inc. now owns 3,589 shares of the sporting goods retailer’s stock valued at $821,000 after purchasing an additional 380 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in DICK’S Sporting Goods by 15.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,144 shares of the sporting goods retailer’s stock worth $491,000 after buying an additional 281 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

DICK’S Sporting Goods Stock Up 2.6 %

DKS stock opened at $185.33 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The firm has a market cap of $14.80 billion, a PE ratio of 13.25, a P/E/G ratio of 2.47 and a beta of 1.32. DICK’S Sporting Goods, Inc. has a 12 month low of $166.37 and a 12 month high of $254.60. The firm has a 50 day simple moving average of $205.27 and a 200 day simple moving average of $213.65.

DICK’S Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) 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 business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the previous year, the firm posted $3.85 EPS. The company’s quarterly revenue was up .5% on a year-over-year basis. Equities research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

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

DICK’S Sporting Goods Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a $1.2125 dividend. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Friday, March 28th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 34.54%.

Analyst Ratings Changes

DKS has been the subject of several research reports. Telsey Advisory Group reiterated 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. Morgan Stanley raised their price target on 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 reduced their price objective on shares of DICK’S Sporting Goods from $226.00 to $192.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Truist Financial set a $245.00 target price on DICK’S Sporting Goods in a research report on Tuesday, March 11th. Finally, DA Davidson lowered their price target on shares of DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Eight analysts have rated the stock with a hold rating and eleven 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 a consensus price target of $244.72.

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.