Resona Asset Management Co. Ltd. Acquires Shares of 16,910 DICK'S Sporting Goods, Inc. (NYSE:DKS)

Resona Asset Management Co. Ltd. purchased a new position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 16,910 shares of the sporting goods retailer's stock, valued at approximately $3,881,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DKS. Janus Henderson Group PLC lifted its holdings in DICK'S Sporting Goods by 9.7% in the third quarter. Janus Henderson Group PLC now owns 10,046 shares of the sporting goods retailer's stock worth $2,096,000 after buying an additional 891 shares during the period. Weiss Asset Management LP purchased a new position in shares of DICK'S Sporting Goods in the 3rd quarter valued at approximately $512,000. EP Wealth Advisors LLC bought a new stake in shares of DICK'S Sporting Goods during the third quarter valued at approximately $200,000. iA Global Asset Management Inc. purchased a new position in DICK'S Sporting Goods during the third quarter valued at $251,000. Finally, National Bank of Canada FI boosted its position in shares of DICK'S Sporting Goods by 4.4% in the 3rd quarter. National Bank of Canada FI now owns 39,505 shares of the sporting goods retailer's stock worth $8,245,000 after purchasing an additional 1,662 shares in the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DKS shares. Wedbush restated a "neutral" rating and issued a $215.00 price target on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Morgan Stanley increased their target price 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 lowered their price objective on shares of DICK'S Sporting Goods from $226.00 to $192.00 and set a "hold" rating on the stock in a research note on Thursday. Robert W. Baird cut their price objective on shares of 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. Finally, Loop Capital reduced their price target on 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. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, DICK'S Sporting Goods presently has a consensus rating of "Moderate Buy" and an average price target of $244.72.

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Insiders Place Their Bets

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK'S Sporting Goods stock in a transaction on Friday, January 17th. The shares were sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the sale, the executive vice president now directly owns 16,504 shares in the company, valued at approximately $3,762,746.96. The trade was a 23.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 32.03% of the stock is owned by company insiders.

DICK'S Sporting Goods Price Performance

Shares of NYSE:DKS traded up $1.17 on Monday, reaching $187.10. The company's stock had a trading volume of 234,443 shares, compared to its average volume of 1,152,576. DICK'S Sporting Goods, Inc. has a 52-week low of $166.37 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 company has a 50-day simple moving average of $210.74 and a 200 day simple moving average of $214.56. The company has a market cap of $14.94 billion, a P/E ratio of 13.37, a PEG ratio of 2.47 and a beta of 1.32.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.15. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The business's revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the company earned $3.85 earnings per share. As a group, equities research analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK'S Sporting Goods Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a dividend of $1.2125 per share. 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 2.59%. DICK'S Sporting Goods's payout ratio is 34.54%.

DICK'S Sporting Goods announced that its Board of Directors has approved a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

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.