Weiss Asset Management LP Invests $512,000 in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Weiss Asset Management LP purchased a new position in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,452 shares of the sporting goods retailer's stock, valued at approximately $512,000.

Several other institutional investors have also recently added to or reduced their stakes in DKS. Renaissance Technologies LLC increased its holdings in shares of DICK'S Sporting Goods by 51.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,106,341 shares of the sporting goods retailer's stock valued at $237,697,000 after acquiring an additional 375,600 shares during the last quarter. Holocene Advisors LP acquired a new position in DICK'S Sporting Goods in the third quarter worth $70,562,000. KBC Group NV increased its stake in DICK'S Sporting Goods by 887.3% during the third quarter. KBC Group NV now owns 250,374 shares of the sporting goods retailer's stock valued at $52,253,000 after purchasing an additional 225,015 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of DICK'S Sporting Goods by 19,851.3% during the third quarter. International Assets Investment Management LLC now owns 208,491 shares of the sporting goods retailer's stock worth $43,512,000 after purchasing an additional 207,446 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of DICK'S Sporting Goods by 1,718.2% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 200,000 shares of the sporting goods retailer's stock worth $41,740,000 after buying an additional 189,000 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

DICK'S Sporting Goods Price Performance

DICK'S Sporting Goods stock traded down $0.43 during mid-day trading on Tuesday, hitting $213.76. The company's stock had a trading volume of 1,001,890 shares, compared to its average volume of 1,103,307. DICK'S Sporting Goods, Inc. has a twelve month low of $136.92 and a twelve month high of $239.30. The stock's fifty day moving average price is $205.53 and its two-hundred day moving average price is $211.85. The stock has a market capitalization of $17.42 billion, a P/E ratio of 15.32, a P/E/G ratio of 2.47 and a beta of 1.61. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last issued its earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.07. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The business had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.03 billion. During the same period in the previous year, the firm posted $2.85 EPS. The company's quarterly revenue was up .5% on a year-over-year basis. Research analysts forecast that DICK'S Sporting Goods, Inc. will post 13.88 earnings per share for the current year.

DICK'S Sporting Goods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, December 13th. DICK'S Sporting Goods's payout ratio is 31.45%.

Wall Street Analysts Forecast Growth

DKS has been the topic of several research reports. Bank of America increased their price objective on shares of DICK'S Sporting Goods from $240.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, September 5th. Truist Financial increased their price target on DICK'S Sporting Goods from $256.00 to $258.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Loop Capital boosted their price objective on DICK'S Sporting Goods from $220.00 to $225.00 and gave the company a "hold" rating in a research report on Wednesday, November 27th. UBS Group raised shares of DICK'S Sporting Goods from a "neutral" rating to a "buy" rating and boosted their price target for the company from $225.00 to $260.00 in a report on Wednesday, November 27th. Finally, Wedbush reissued a "neutral" rating and issued a $215.00 price objective (down from $250.00) on shares of DICK'S Sporting Goods in a report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $244.95.

About DICK'S Sporting Goods

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.