Polymer Capital Management HK LTD Acquires New Stake in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Polymer Capital Management HK LTD bought a new position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,500 shares of the sporting goods retailer's stock, valued at approximately $572,000.

A number of other hedge funds also recently added to or reduced their stakes in DKS. Greenleaf Trust increased its position in shares of DICK'S Sporting Goods by 3.0% during the fourth quarter. Greenleaf Trust now owns 1,721 shares of the sporting goods retailer's stock worth $394,000 after acquiring an additional 50 shares during the period. Independent Advisor Alliance raised its position in DICK'S Sporting Goods by 5.4% in the 4th quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer's stock valued at $235,000 after purchasing an additional 53 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in shares of DICK'S Sporting Goods by 2.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer's stock worth $577,000 after buying an additional 54 shares in the last quarter. Stonegate Investment Group LLC grew its position in shares of DICK'S Sporting Goods by 2.9% during the fourth quarter. Stonegate Investment Group LLC now owns 2,066 shares of the sporting goods retailer's stock worth $473,000 after buying an additional 58 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in shares of DICK'S Sporting Goods by 9.4% during the fourth quarter. IFP Advisors Inc now owns 769 shares of the sporting goods retailer's stock worth $176,000 after buying an additional 66 shares during the period. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analysts Set New Price Targets

Several research analysts have commented on DKS shares. Argus boosted their price target on shares of DICK'S Sporting Goods from $255.00 to $280.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Wedbush reiterated a "neutral" rating and set a $215.00 target price on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. TD Cowen raised their price target on 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. Stifel Nicolaus lowered their price objective on DICK'S Sporting Goods from $226.00 to $192.00 and set a "hold" rating for the company in a research report on Thursday. Finally, Robert W. Baird cut their target price on DICK'S Sporting Goods from $235.00 to $230.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, DICK'S Sporting Goods presently has a consensus rating of "Moderate Buy" and an average target price of $242.95.

Insider Buying and Selling at DICK'S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK'S Sporting Goods 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 completion of the transaction, the executive vice president now owns 16,504 shares of the company's stock, valued at $3,762,746.96. The trade was a 23.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 32.03% of the stock is currently owned by corporate insiders.

DICK'S Sporting Goods Stock Performance

Shares of DICK'S Sporting Goods stock traded down $4.01 during trading hours on Friday, hitting $186.01. 1,412,940 shares of the company were exchanged, compared to its average volume of 1,154,305. 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 business has a 50-day moving average of $210.74 and a 200-day moving average of $214.58. DICK'S Sporting Goods, Inc. has a 1 year low of $166.37 and a 1 year high of $254.60. The stock has a market capitalization of $14.85 billion, a price-to-earnings 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 issued its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.15. The business had revenue of $3.89 billion for 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%. The business's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.85 earnings per share. As a group, analysts expect that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK'S Sporting Goods Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a dividend of $1.2125 per share. This is a positive change 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%. The ex-dividend date was Friday, March 28th. DICK'S Sporting Goods's dividend payout ratio is presently 34.54%.

DICK'S Sporting Goods announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors 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.