Korea Investment CORP Acquires 26,004 Shares of DICK'S Sporting Goods, Inc. (NYSE:DKS)

Korea Investment CORP grew its stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 79.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,601 shares of the sporting goods retailer's stock after purchasing an additional 26,004 shares during the period. Korea Investment CORP owned about 0.07% of DICK'S Sporting Goods worth $13,410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DKS. Wealthfront Advisers LLC acquired a new stake in DICK'S Sporting Goods during the 4th quarter worth about $1,893,210,000. State Street Corp increased its position in shares of DICK'S Sporting Goods by 1.2% in the third quarter. State Street Corp now owns 2,259,133 shares of the sporting goods retailer's stock worth $473,945,000 after acquiring an additional 27,155 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of DICK'S Sporting Goods by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,866,177 shares of the sporting goods retailer's stock valued at $427,056,000 after acquiring an additional 77,357 shares during the period. Geode Capital Management LLC lifted its position in shares of DICK'S Sporting Goods by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,042,782 shares of the sporting goods retailer's stock valued at $217,169,000 after acquiring an additional 10,640 shares in the last quarter. Finally, KBC Group NV boosted its stake in DICK'S Sporting Goods by 86.8% in the 4th quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer's stock worth $107,043,000 after purchasing an additional 217,390 shares during the period. Institutional investors and hedge funds own 89.83% of the company's stock.

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DICK'S Sporting Goods Stock Performance

DKS traded down $2.34 on Friday, hitting $182.63. The company had a trading volume of 3,464,057 shares, compared to its average volume of 1,133,006. DICK'S Sporting Goods, Inc. has a 1-year low of $168.44 and a 1-year high of $254.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The company's fifty day moving average price is $219.03 and its 200 day moving average price is $216.03. The stock has a market cap of $14.88 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) 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 net margin of 8.65% and a return on equity of 42.00%. DICK'S Sporting Goods's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.85 EPS. Equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost 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 of Directors has initiated a stock repurchase plan 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 repurchase up to 18.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Insider Activity at DICK'S Sporting Goods

In other news, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $229.25, for a total value of $36,817,550.00. Following the completion of the sale, the chairman now directly owns 8,362,128 shares of the company's stock, valued at approximately $1,917,017,844. This represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the business's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the transaction, the executive vice president now directly owns 16,504 shares in the company, valued at $3,762,746.96. This trade represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. 32.03% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on DKS. TD Cowen boosted their target price on shares of DICK'S Sporting Goods from $270.00 to $294.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. DA Davidson reduced their price objective on DICK'S Sporting Goods from $280.00 to $273.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Robert W. Baird decreased 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 report on Wednesday, March 12th. Telsey Advisory Group reiterated an "outperform" rating and issued a $250.00 target price on shares of DICK'S Sporting Goods in a report on Friday, March 14th. Finally, Truist Financial set a $245.00 price target on shares of DICK'S Sporting Goods in a report on Tuesday, March 11th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $245.50.

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.