Cartenna Capital LP Invests $27.03 Million in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Cartenna Capital LP bought a new stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 118,120 shares of the sporting goods retailer's stock, valued at approximately $27,031,000. DICK'S Sporting Goods accounts for 1.3% of Cartenna Capital LP's holdings, making the stock its 20th largest position. Cartenna Capital LP owned approximately 0.14% of DICK'S Sporting Goods at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. New Wave Wealth Advisors LLC acquired a new position in shares of DICK'S Sporting Goods in the 4th quarter valued at about $28,000. Rialto Wealth Management LLC bought a new stake in DICK'S Sporting Goods in the fourth quarter worth approximately $30,000. Sound Income Strategies LLC lifted its stake 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 valued at $32,000 after buying an additional 118 shares during the period. Bessemer Group Inc. boosted its holdings 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 buying an additional 76 shares in the last quarter. Finally, Promus Capital LLC acquired a new stake in shares of DICK'S Sporting Goods during the 4th quarter worth approximately $48,000. Institutional investors own 89.83% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Argus boosted their target price on shares of 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. Guggenheim reissued a "neutral" rating on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Loop Capital decreased their target price 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. Wedbush reiterated a "neutral" rating and issued a $215.00 price target on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Finally, Robert W. Baird reduced their price objective on DICK'S Sporting Goods from $235.00 to $230.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.72.

DICK'S Sporting Goods Trading Up 2.0 %

NYSE:DKS opened at $184.37 on Thursday. DICK'S Sporting Goods, Inc. has a 52 week low of $166.37 and a 52 week high of $254.60. The firm has a 50-day moving average price of $201.68 and a two-hundred day moving average price of $213.06. 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 firm has a market cap of $14.72 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 2.47 and a beta of 1.32.

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 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.15. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period last year, the business posted $3.85 earnings per share. DICK'S Sporting Goods's revenue was up .5% on a year-over-year basis. On average, equities analysts expect 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. Stockholders of record on Friday, March 28th were paid a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.63%. This is a boost from DICK'S Sporting Goods's previous quarterly dividend of $1.10. The ex-dividend date was Friday, March 28th. DICK'S Sporting Goods's payout ratio is presently 34.54%.

DICK'S Sporting Goods announced that its board has initiated a share repurchase 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 reacquire up to 18.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board 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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