Harvest Fund Management Co. Ltd Purchases New Shares in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Harvest Fund Management Co. Ltd acquired a new position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,300 shares of the sporting goods retailer's stock, valued at approximately $1,442,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. New Wave Wealth Advisors LLC bought a new stake in shares of DICK'S Sporting Goods during the fourth quarter worth $28,000. Brooklyn Investment Group bought a new stake in DICK'S Sporting Goods during the 3rd quarter worth $27,000. Rialto Wealth Management LLC bought a new stake in DICK'S Sporting Goods during the 4th quarter worth $30,000. Sound Income Strategies LLC increased its holdings in DICK'S Sporting Goods by 590.0% in the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer's stock worth $32,000 after purchasing an additional 118 shares in the last quarter. Finally, True Wealth Design LLC raised its position in DICK'S Sporting Goods by 2,900.0% in the third quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer's stock valued at $31,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 89.83% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Robert W. Baird lowered 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. Wedbush restated a "neutral" rating and issued a $215.00 price target on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Stifel Nicolaus dropped their price target on shares of DICK'S Sporting Goods from $240.00 to $226.00 and set a "hold" rating for the company in a research note on Wednesday, March 12th. Truist Financial set a $245.00 price objective on shares of DICK'S Sporting Goods in a research note on Tuesday, March 11th. Finally, Loop Capital lowered 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. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $245.50.

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Insider Buying and Selling at DICK'S Sporting Goods

In other news, Chairman Edward W. Stack sold 160,600 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction 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 $1,917,017,844. The trade was a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lawrence J. Schorr sold 7,333 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the completion of the sale, the director now owns 50,997 shares in the company, valued at $11,808,355.35. This represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is owned by corporate insiders.

DICK'S Sporting Goods Stock Up 5.4 %

Shares of NYSE DKS traded up $10.61 during trading on Monday, hitting $206.06. 1,467,669 shares of the company traded hands, compared to its average volume of 1,089,054. 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 business's fifty day moving average is $225.07 and its 200 day moving average is $216.71. The firm has a market capitalization of $16.79 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 2.47 and a beta of 1.53. DICK'S Sporting Goods, Inc. has a fifty-two week low of $182.84 and a fifty-two week high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping 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 business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the prior year, the business earned $3.85 EPS. The firm's revenue for the quarter was up .5% on a year-over-year basis. Equities research 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 declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $1.2125 dividend. The ex-dividend date is Friday, March 28th. This represents a $4.85 annualized dividend and a yield of 2.35%. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.10. DICK'S Sporting Goods's dividend payout ratio (DPR) is presently 34.54%.

DICK'S Sporting Goods announced that its Board of Directors 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 reacquire up to 18.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

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.