Burling Wealth Partners LLC Takes Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Burling Wealth Partners LLC bought a new stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 6,998 shares of the sporting goods retailer's stock, valued at approximately $1,601,000.

Other hedge funds have also recently bought and sold shares of the company. World Investment Advisors LLC bought a new stake in shares of DICK'S Sporting Goods in the third quarter valued at about $211,000. Wilmington Savings Fund Society FSB bought a new stake in shares of DICK'S Sporting Goods during the third quarter valued at approximately $140,000. Tidal Investments LLC raised its stake in shares of DICK'S Sporting Goods by 47.3% in the third quarter. Tidal Investments LLC now owns 7,597 shares of the sporting goods retailer's stock valued at $1,585,000 after purchasing an additional 2,441 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of DICK'S Sporting Goods by 13.3% in the third quarter. Retirement Systems of Alabama now owns 126,800 shares of the sporting goods retailer's stock valued at $26,463,000 after purchasing an additional 14,934 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new position in DICK'S Sporting Goods in the fourth quarter worth $350,000. 89.83% of the stock is owned by institutional investors.

DICK'S Sporting Goods Trading Down 0.8 %

NYSE:DKS traded down $1.52 during trading hours on Friday, hitting $187.99. 586,396 shares of the stock were exchanged, compared to its average volume of 1,164,123. The company has a market capitalization of $15.01 billion, a P/E ratio of 13.44, a price-to-earnings-growth 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. The company's 50 day moving average is $199.77 and its two-hundred day moving average is $212.89. DICK'S Sporting Goods, Inc. has a twelve month low of $166.37 and a twelve month high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.15. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.76 billion. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.85 earnings per share. On average, sell-side 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 was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a yield of 2.58%. 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. DICK'S Sporting Goods's payout ratio is currently 34.54%.

DICK'S Sporting Goods declared that its board has initiated a stock buyback program on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Robert W. Baird lowered their price target on shares of DICK'S Sporting Goods from $235.00 to $230.00 and set a "neutral" rating on the stock in a report on Wednesday, March 12th. Argus raised their price target on shares of DICK'S Sporting Goods from $255.00 to $280.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Stifel Nicolaus lowered their price objective on DICK'S Sporting Goods from $226.00 to $192.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. StockNews.com cut DICK'S Sporting Goods from a "hold" rating to a "sell" rating in a report on Tuesday, April 22nd. Finally, Loop Capital cut their price objective on DICK'S Sporting Goods from $240.00 to $195.00 and set a "hold" rating for the company in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, DICK'S Sporting Goods presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.72.

DICK'S Sporting Goods Company 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.