Sei Investments Co. Grows Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Sei Investments Co. increased its stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 9.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 55,316 shares of the sporting goods retailer's stock after buying an additional 4,970 shares during the quarter. Sei Investments Co. owned 0.07% of DICK'S Sporting Goods worth $12,659,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DKS. New Wave Wealth Advisors LLC bought a new stake in DICK'S Sporting Goods in the fourth quarter worth about $28,000. Brooklyn Investment Group purchased a new stake in shares of DICK'S Sporting Goods during the 3rd quarter worth approximately $27,000. Rialto Wealth Management LLC bought a new stake in shares of DICK'S Sporting Goods in the 4th quarter worth approximately $30,000. Sound Income Strategies LLC lifted its stake 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 purchasing an additional 118 shares during the last quarter. Finally, True Wealth Design LLC grew its holdings 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 purchasing an additional 145 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

DICK'S Sporting Goods Price Performance

DICK'S Sporting Goods stock traded down $26.43 during mid-day trading on Thursday, hitting $184.89. 4,149,071 shares of the company traded hands, compared to its average volume of 1,124,328. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. DICK'S Sporting Goods, Inc. has a one year low of $176.81 and a one year high of $254.60. The stock has a market cap of $15.06 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. The stock has a fifty day moving average price of $220.38 and a 200-day moving average price of $216.23.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the firm posted $3.85 EPS. The firm's revenue was up .5% compared to the same quarter last year. On average, equities analysts predict 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 of Directors has authorized a share repurchase program on Tuesday, March 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

DICK'S Sporting Goods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $1.2125 dividend. The ex-dividend date is Friday, March 28th. This represents a $4.85 annualized dividend and a yield of 2.62%. This is a positive change from DICK'S Sporting Goods's previous quarterly dividend of $1.10. DICK'S Sporting Goods's dividend payout ratio is currently 34.54%.

Insiders Place Their Bets

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK'S Sporting Goods stock in a transaction dated 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 owns 16,504 shares of the company's stock, valued at approximately $3,762,746.96. The trade was a 23.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the firm's stock in a transaction that occurred 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 owns 8,362,128 shares of the company's stock, valued at approximately $1,917,017,844. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. 32.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DKS has been the topic of several research reports. Loop Capital lowered their target price on DICK'S Sporting Goods from $240.00 to $195.00 and set a "hold" rating on the stock in a research note on Thursday, March 13th. Stifel Nicolaus lowered their price objective on DICK'S Sporting Goods from $240.00 to $226.00 and set a "hold" rating on the stock in a research note on Wednesday, March 12th. Telsey Advisory Group reiterated an "outperform" rating and set a $250.00 target price on shares of DICK'S Sporting Goods in a research report on Friday, March 14th. Truist Financial set a $245.00 target price on shares of DICK'S Sporting Goods in a research note on Tuesday, March 11th. Finally, Morgan Stanley upped their price target on shares of 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. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $245.50.

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.