DICK'S Sporting Goods, Inc. (NYSE:DKS) Stake Lifted by Federated Hermes Inc.

Federated Hermes Inc. boosted its position in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 99.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,855 shares of the sporting goods retailer's stock after purchasing an additional 98,535 shares during the period. Federated Hermes Inc. owned about 0.24% of DICK'S Sporting Goods worth $45,277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealthfront Advisers LLC purchased a new position in shares of DICK'S Sporting Goods in the fourth quarter valued at $1,893,210,000. State Street Corp grew its stake in DICK'S Sporting Goods by 1.2% in the 3rd quarter. State Street Corp now owns 2,259,133 shares of the sporting goods retailer's stock valued at $473,945,000 after acquiring an additional 27,155 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in DICK'S Sporting Goods by 4.3% during the 4th 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 in the last quarter. Geode Capital Management LLC raised its position in DICK'S Sporting Goods by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,057,793 shares of the sporting goods retailer's stock worth $241,660,000 after acquiring an additional 15,011 shares during the last quarter. Finally, Norges Bank acquired a new position in DICK'S Sporting Goods during the fourth quarter worth about $221,693,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Remove Ads

DICK'S Sporting Goods Stock Down 2.1 %

NYSE DKS traded down $4.01 on Friday, reaching $186.01. The company had a trading volume of 1,412,940 shares, compared to its average volume of 1,156,121. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. DICK'S Sporting Goods, Inc. has a 1 year low of $166.37 and a 1 year high of $254.60. The firm has a 50-day moving average of $210.74 and a 200-day moving average of $214.56. The firm has a market capitalization of $14.85 billion, a PE ratio of 13.30, a P/E/G ratio of 2.47 and a beta of 1.32.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping the consensus estimate 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 business had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $3.76 billion. During the same quarter in the previous year, the firm posted $3.85 earnings per share. The company's revenue was up .5% compared to the same quarter last year. On average, equities research analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

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

DICK'S Sporting Goods Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a dividend of $1.2125 per share. The ex-dividend date of this dividend was Friday, March 28th. This is a boost from DICK'S Sporting Goods's previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a yield of 2.61%. DICK'S Sporting Goods's dividend payout ratio (DPR) is 34.54%.

Insiders Place Their Bets

In other DICK'S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of the 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 sale, the executive vice president now directly owns 16,504 shares of the company's stock, valued at approximately $3,762,746.96. This represents a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 32.03% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on DKS shares. Guggenheim reissued a "neutral" rating on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Morgan Stanley raised their price target on 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. Citigroup restated a "neutral" rating and issued a $220.00 price objective (down from $230.00) on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Argus lifted their price objective on DICK'S Sporting Goods from $255.00 to $280.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $250.00 target price on shares of DICK'S Sporting Goods in a report on Friday, March 14th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $244.72.

About DICK'S Sporting Goods

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.