DICK’S Sporting Goods, Inc. (NYSE:DKS) Shares Bought by Pinebridge Investments L.P.

Pinebridge Investments L.P. raised its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 39.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,782 shares of the sporting goods retailer’s stock after acquiring an additional 5,038 shares during the quarter. Pinebridge Investments L.P.’s holdings in DICK’S Sporting Goods were worth $4,069,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. XTX Topco Ltd purchased a new position in shares of DICK’S Sporting Goods in the 4th quarter valued at approximately $485,000. Marion Wealth Management acquired a new position in DICK’S Sporting Goods during the 4th quarter valued at approximately $545,000. Argus Investors Counsel Inc. purchased a new position in shares of DICK’S Sporting Goods in the fourth quarter worth $257,000. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its stake 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 buying an additional 5,046 shares during the period. Finally, Principal Securities Inc. grew its holdings in shares of DICK’S Sporting Goods by 11.8% during the fourth quarter. Principal Securities Inc. now owns 3,589 shares of the sporting goods retailer’s stock valued at $821,000 after buying an additional 380 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DKS. StockNews.com lowered DICK’S Sporting Goods from a “hold” rating to a “sell” rating in a research note on Tuesday. Guggenheim restated a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Argus upped their target price on DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Loop Capital reduced their price target on shares of DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating for the company in a research report on Thursday, March 13th. Finally, Truist Financial set a $245.00 price objective 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, eight have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $244.72.

DICK’S Sporting Goods Stock Performance

Shares of DKS stock opened at $187.99 on Friday. 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, Inc. has a 12-month low of $166.37 and a 12-month high of $254.60. The business’s 50 day moving average is $199.77 and its two-hundred day moving average is $212.83. The company has a market capitalization of $15.01 billion, a P/E ratio of 13.44, a P/E/G ratio of 2.47 and a beta of 1.32.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping the consensus estimate of $3.47 by $0.15. The company had revenue of $3.89 billion during 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%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.85 EPS. Analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $1.2125 dividend. 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. This represents a $4.85 dividend on an annualized basis and a yield of 2.58%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is currently 34.54%.

DICK’S Sporting Goods declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors 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.