Wellington Management Group LLP Invests $125.29 Million in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Wellington Management Group LLP purchased a new stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 547,480 shares of the sporting goods retailer's stock, valued at approximately $125,285,000. Wellington Management Group LLP owned approximately 0.67% of DICK'S Sporting Goods at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DKS. Marion Wealth Management purchased a new stake in shares of DICK'S Sporting Goods during the 4th quarter worth about $545,000. Argus Investors Counsel Inc. purchased a new position in DICK'S Sporting Goods during the fourth quarter worth approximately $257,000. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in DICK'S Sporting Goods by 78.2% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,495 shares of the sporting goods retailer's stock worth $2,631,000 after purchasing an additional 5,046 shares in the last quarter. Principal Securities Inc. grew its holdings in DICK'S Sporting Goods by 11.8% in the fourth quarter. Principal Securities Inc. now owns 3,589 shares of the sporting goods retailer's stock valued at $821,000 after purchasing an additional 380 shares during the period. Finally, Jones Financial Companies Lllp increased its position in shares of DICK'S Sporting Goods by 15.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,144 shares of the sporting goods retailer's stock valued at $491,000 after buying an additional 281 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

DICK'S Sporting Goods Trading Up 1.7 %

DKS stock traded up $3.09 during trading on Tuesday, reaching $180.35. 508,700 shares of the stock were exchanged, compared to its average volume of 1,359,571. 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 firm has a market capitalization of $14.40 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 2.47 and a beta of 1.32. The business has a 50 day moving average price of $217.64 and a 200-day moving average price of $215.80. DICK'S Sporting Goods, Inc. has a 1 year low of $166.77 and a 1 year high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, beating the consensus estimate of $3.47 by $0.15. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.85 EPS. On average, research analysts predict that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.69%. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 28th. DICK'S Sporting Goods's dividend payout ratio (DPR) is presently 34.54%.

DICK'S Sporting Goods declared that its board has approved a stock repurchase program on Tuesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on DKS shares. Stifel Nicolaus dropped their price target on shares of 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. Truist Financial set a $245.00 price objective on shares of DICK'S Sporting Goods in a report on Tuesday, March 11th. Morgan Stanley boosted their target price on shares of DICK'S Sporting Goods from $245.00 to $255.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Argus raised their price target on shares of 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. Finally, Loop Capital cut their price objective on 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. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $245.50.

Insider Activity at DICK'S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of the business's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $227.99, for a total value of $1,139,950.00. Following the sale, the executive vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 32.03% of the stock is owned by insiders.

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.