Canada Pension Plan Investment Board Takes $2.43 Million Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Canada Pension Plan Investment Board purchased a new position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,600 shares of the sporting goods retailer's stock, valued at approximately $2,426,000.

Other hedge funds have also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new position in shares of DICK'S Sporting Goods during the 4th quarter worth $28,000. Rialto Wealth Management LLC acquired a new position in DICK'S Sporting Goods in the 4th quarter valued at about $30,000. Sound Income Strategies LLC grew its position in DICK'S Sporting Goods by 590.0% in the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer's stock worth $32,000 after acquiring an additional 118 shares during the period. Bessemer Group Inc. increased its position in shares of DICK'S Sporting Goods by 108.6% during the 4th quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock worth $33,000 after purchasing an additional 76 shares during the last quarter. Finally, Promus Capital LLC purchased a new stake in DICK'S Sporting Goods in the 4th quarter valued at about $48,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DKS has been the subject of a number of research analyst reports. Morgan Stanley increased their price objective on shares of DICK'S Sporting Goods from $245.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. StockNews.com cut DICK'S Sporting Goods from a "hold" rating to a "sell" rating in a research note on Tuesday. Robert W. Baird decreased their target price on DICK'S Sporting Goods from $235.00 to $230.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 12th. Truist Financial set a $245.00 target price on DICK'S Sporting Goods in a report on Tuesday, March 11th. Finally, Wedbush reiterated a "neutral" rating and set a $215.00 price target on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $244.72.

DICK'S Sporting Goods Trading Up 2.0 %

DKS opened at $184.37 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. DICK'S Sporting Goods, Inc. has a one year low of $166.37 and a one year high of $254.60. The company has a market cap of $14.72 billion, a P/E ratio of 13.18, a PEG ratio of 2.47 and a beta of 1.32. The business's 50-day simple moving average is $201.68 and its 200-day simple moving average is $213.06.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, beating the consensus estimate of $3.47 by $0.15. The company had revenue of $3.89 billion for 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% on a year-over-year basis. During the same period in the prior year, the firm posted $3.85 earnings per share. As a group, equities research 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 disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $1.2125 dividend. This represents a $4.85 annualized dividend and a yield of 2.63%. The ex-dividend date was Friday, March 28th. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.10. DICK'S Sporting Goods's dividend payout ratio is currently 34.54%.

DICK'S Sporting Goods declared that its board has approved a stock repurchase program on Tuesday, March 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership 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.

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