Wealthquest Corp Purchases Shares of 3,530 DICK’S Sporting Goods, Inc. (NYSE:DKS)

Wealthquest Corp purchased a new stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,530 shares of the sporting goods retailer’s stock, valued at approximately $712,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in shares of DICK’S Sporting Goods in the 4th quarter valued at about $485,000. Fifth Third Bancorp raised its holdings in shares of DICK’S Sporting Goods by 27.5% in the 1st quarter. Fifth Third Bancorp now owns 968 shares of the sporting goods retailer’s stock valued at $195,000 after acquiring an additional 209 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of DICK’S Sporting Goods in the 1st quarter valued at about $54,000. Janus Henderson Group PLC raised its holdings in shares of DICK’S Sporting Goods by 15.9% in the 4th quarter. Janus Henderson Group PLC now owns 11,640 shares of the sporting goods retailer’s stock valued at $2,664,000 after acquiring an additional 1,594 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of DICK’S Sporting Goods by 15.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,144 shares of the sporting goods retailer’s stock valued at $491,000 after acquiring an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DKS. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $220.00 price target on shares of DICK’S Sporting Goods in a report on Wednesday, May 28th. Loop Capital decreased their price objective on DICK’S Sporting Goods from $195.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, May 16th. Citigroup reissued a “neutral” rating on shares of DICK’S Sporting Goods in a report on Thursday, May 29th. Guggenheim reissued a “neutral” rating on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Finally, Truist Financial set a $230.00 price objective on DICK’S Sporting Goods in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $219.56.

DICK’S Sporting Goods Price Performance

Shares of DICK’S Sporting Goods stock opened at $178.20 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.62 and a quick ratio of 0.47. The business’s 50 day simple moving average is $183.15 and its two-hundred day simple moving average is $206.45. The stock has a market capitalization of $14.26 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. DICK’S Sporting Goods, Inc. has a one year low of $166.37 and a one year high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 EPS for the quarter, hitting analysts’ consensus estimates of $3.37. The business had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.12 billion. DICK’S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. Analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $1.2125 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.72%. DICK’S Sporting Goods’s dividend payout ratio is currently 34.69%.

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