Federated Hermes Inc. Has $45.28 Million Stock Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Federated Hermes Inc. grew its position in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 99.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 197,855 shares of the sporting goods retailer’s stock after buying an additional 98,535 shares during the period. Federated Hermes Inc.’s holdings in DICK’S Sporting Goods were worth $45,277,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in DICK’S Sporting Goods by 10.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 137,071 shares of the sporting goods retailer’s stock worth $31,367,000 after purchasing an additional 13,486 shares during the period. Aviva PLC acquired a new stake in shares of DICK’S Sporting Goods during the 4th quarter worth approximately $7,665,000. Resona Asset Management Co. Ltd. bought a new stake in shares of DICK’S Sporting Goods during the fourth quarter worth approximately $3,881,000. Wells Fargo & Company MN lifted its holdings in DICK’S Sporting Goods by 34.1% in the fourth quarter. Wells Fargo & Company MN now owns 121,368 shares of the sporting goods retailer’s stock valued at $27,774,000 after buying an additional 30,874 shares during the period. Finally, Savoir Faire Capital Management L.P. bought a new position in DICK’S Sporting Goods in the fourth quarter valued at approximately $6,501,000. Institutional investors own 89.83% of the company’s stock.

Insider Transactions at DICK’S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK’S Sporting Goods stock in a transaction dated 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 sale, the executive vice president now directly owns 16,504 shares of the company’s stock, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Price Performance

Shares of DKS stock opened at $176.84 on Tuesday. The business has a fifty day simple moving average of $217.64 and a 200 day simple moving average of $215.80. The company has a market cap of $14.12 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.47 and a beta of 1.32. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. DICK’S Sporting Goods, Inc. has a twelve month low of $166.77 and a twelve month high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.15. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the business earned $3.85 earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, sell-side analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods announced that its board has approved a stock 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 purchase up to 18.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders 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 yield of 2.74%. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio (DPR) is currently 34.54%.

Wall Street Analysts Forecast Growth

DKS has been the subject of several recent research reports. Truist Financial set a $245.00 target price on shares of DICK’S Sporting Goods in a research report on Tuesday, March 11th. Loop Capital cut their target price on DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating on the stock in a research note on Thursday, March 13th. Robert W. Baird decreased their target price on DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. 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. Finally, TD Cowen boosted their price objective on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $245.50.

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.