KLP Kapitalforvaltning AS Purchases New Holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS)

KLP Kapitalforvaltning AS purchased a new position in 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 (SEC). The fund purchased 20,800 shares of the sporting goods retailer's stock, valued at approximately $4,760,000.

Other hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in DICK'S Sporting Goods in the 3rd quarter worth approximately $27,000. New Wave Wealth Advisors LLC bought a new stake in shares of DICK'S Sporting Goods in the fourth quarter worth $28,000. Rialto Wealth Management LLC purchased a new stake in DICK'S Sporting Goods during the fourth quarter valued at $30,000. True Wealth Design LLC increased its position in DICK'S Sporting Goods by 2,900.0% during the third quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer's stock valued at $31,000 after acquiring an additional 145 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its holdings 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 acquiring an additional 118 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other DICK'S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of DICK'S Sporting Goods stock in a transaction on Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the completion of the transaction, the chairman now directly owns 8,362,128 shares of the company's stock, valued at $1,917,017,844. This trade represents a 1.88 % decrease in their position. The sale was disclosed in a 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 shares were sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,933 shares of company stock worth $39,655,456. Insiders own 32.03% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DKS shares. Argus boosted their price target on DICK'S Sporting Goods from $255.00 to $280.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Robert W. Baird reduced their target price on shares of DICK'S Sporting Goods from $235.00 to $230.00 and set a "neutral" rating for the company in a report on Wednesday, March 12th. Loop Capital decreased their price target on shares of DICK'S Sporting Goods from $240.00 to $195.00 and set a "hold" rating on the stock in a research report on Thursday, March 13th. Morgan Stanley boosted their price objective on shares of DICK'S Sporting Goods from $245.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. Finally, Guggenheim restated a "neutral" rating on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, DICK'S Sporting Goods currently has an average rating of "Moderate Buy" and a consensus price target of $245.50.

DICK'S Sporting Goods Price Performance

DKS traded down $8.00 during trading on Friday, hitting $202.09. 1,593,082 shares of the company traded hands, compared to its average volume of 1,113,853. The company has a market cap of $16.47 billion, a PE ratio of 14.45, a P/E/G ratio of 2.47 and a beta of 1.53. DICK'S Sporting Goods, Inc. has a 1 year low of $182.84 and a 1 year high of $254.60. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The stock's 50-day simple moving average is $223.19 and its two-hundred day simple moving average is $216.56.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last issued its earnings results 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. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $3.76 billion. During the same period in the previous year, the firm posted $3.85 earnings per share. The business's revenue was up .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods declared that its board has authorized a stock buyback plan on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the sporting goods retailer to reacquire up to 18.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

DICK'S Sporting Goods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $1.2125 dividend. The ex-dividend date is Friday, March 28th. This is a positive change from DICK'S Sporting Goods's previous quarterly dividend of $1.10. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.40%. DICK'S Sporting Goods's dividend payout ratio (DPR) is 34.54%.

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.