MetLife Investment Management LLC Raises Holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS)

MetLife Investment Management LLC lifted its holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,799 shares of the sporting goods retailer's stock after acquiring an additional 2,664 shares during the period. MetLife Investment Management LLC's holdings in DICK'S Sporting Goods were worth $7,506,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New Wave Wealth Advisors LLC acquired a new position in DICK'S Sporting Goods during the 4th quarter worth $28,000. Rialto Wealth Management LLC bought a new stake in DICK'S Sporting Goods in the 4th quarter valued at about $30,000. Sound Income Strategies LLC grew 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 buying an additional 118 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of DICK'S Sporting Goods by 108.6% during the fourth quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock valued at $33,000 after purchasing an additional 76 shares during the period. Finally, Promus Capital LLC bought a new stake in shares of DICK'S Sporting Goods during the 4th quarter worth about $48,000. Institutional investors and hedge funds own 89.83% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on DKS. Telsey Advisory Group reiterated an "outperform" rating and issued a $250.00 price target on shares of DICK'S Sporting Goods in a research report on Friday, March 14th. TD Cowen lifted 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. Morgan Stanley raised their price objective on DICK'S Sporting Goods from $245.00 to $255.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. Citigroup restated a "neutral" rating and set a $220.00 price target (down from $230.00) on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Finally, Loop Capital cut their target price on shares of DICK'S Sporting Goods from $240.00 to $195.00 and set a "hold" rating for the company in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.72.

DICK'S Sporting Goods Stock Up 2.7 %

Shares of NYSE DKS opened at $181.08 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The firm's fifty day moving average is $202.75 and its 200 day moving average is $213.26. The company has a market cap of $14.46 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 2.47 and a beta of 1.32. DICK'S Sporting Goods, Inc. has a 52 week low of $166.37 and a 52 week high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.15. DICK'S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period last year, the business earned $3.85 earnings per share. The business's revenue was up .5% on a year-over-year basis. On average, equities research analysts expect that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $1.2125 dividend. The ex-dividend date was Friday, March 28th. This represents a $4.85 annualized dividend and a yield of 2.68%. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.10. DICK'S Sporting Goods's dividend payout ratio is currently 34.54%.

DICK'S Sporting Goods announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are 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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