Harvest Fund Management Co. Ltd Invests $1.44 Million in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Harvest Fund Management Co. Ltd bought a new position in DICK’S Sporting Goods, Inc. (NYSE:DKS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,300 shares of the sporting goods retailer’s stock, valued at approximately $1,442,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DKS. CIBC Asset Management Inc lifted its position in DICK’S Sporting Goods by 1.7% during the 3rd quarter. CIBC Asset Management Inc now owns 3,232 shares of the sporting goods retailer’s stock worth $675,000 after buying an additional 54 shares in the last quarter. Quest Partners LLC lifted its position in DICK’S Sporting Goods by 871.9% during the 3rd quarter. Quest Partners LLC now owns 4,150 shares of the sporting goods retailer’s stock worth $866,000 after buying an additional 3,723 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in DICK’S Sporting Goods during the 3rd quarter worth about $900,000. Avior Wealth Management LLC lifted its position in DICK’S Sporting Goods by 276.8% during the 3rd quarter. Avior Wealth Management LLC now owns 1,172 shares of the sporting goods retailer’s stock worth $245,000 after buying an additional 861 shares in the last quarter. Finally, Strategy Asset Managers LLC acquired a new position in DICK’S Sporting Goods during the 3rd quarter worth about $4,325,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DKS. Truist Financial set a $245.00 price target on shares of DICK’S Sporting Goods in a research report on Tuesday, March 11th. Guggenheim restated a “neutral” rating on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. TD Cowen upped their target price on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Wedbush restated a “neutral” rating and set a $215.00 target price on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Finally, Loop Capital cut their target price on shares of DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating on the stock in a research report on Thursday, March 13th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $245.50.

Insider Buying and Selling

In other news, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the completion of the transaction, the chairman now directly owns 8,362,128 shares of the company’s stock, valued at $1,917,017,844. This trade represents a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’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 transaction, the executive vice president now directly owns 16,504 shares of the company’s stock, valued at $3,762,746.96. This represents a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 172,933 shares of company stock valued at $39,655,456. 32.03% of the stock is owned by corporate insiders.

DICK’S Sporting Goods Price Performance

NYSE DKS opened at $198.42 on Thursday. The business has a 50 day simple moving average of $226.60 and a 200 day simple moving average of $217.31. DICK’S Sporting Goods, Inc. has a 52-week low of $182.84 and a 52-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 stock has a market cap of $16.17 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last posted 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 during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the prior year, the business earned $3.85 EPS. DICK’S Sporting Goods’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a yield of 2.44%. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 28th. DICK’S Sporting Goods’s dividend payout ratio is presently 34.54%.

DICK’S Sporting Goods declared that its Board of Directors has authorized a stock repurchase 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 purchase up to 18.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are 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.