KLP Kapitalforvaltning AS Takes $4.76 Million Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

KLP Kapitalforvaltning AS bought a new position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,800 shares of the sporting goods retailer’s stock, valued at approximately $4,760,000.

A number of other hedge funds have also added to or reduced their stakes in DKS. Wealthfront Advisers LLC acquired a new position in shares of DICK’S Sporting Goods during the 4th quarter worth about $1,893,210,000. State Street Corp raised its holdings in DICK’S Sporting Goods by 1.2% during the third quarter. State Street Corp now owns 2,259,133 shares of the sporting goods retailer’s stock worth $473,945,000 after acquiring an additional 27,155 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in DICK’S Sporting Goods by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,866,177 shares of the sporting goods retailer’s stock valued at $427,056,000 after purchasing an additional 77,357 shares during the last quarter. Geode Capital Management LLC grew its stake in DICK’S Sporting Goods by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,042,782 shares of the sporting goods retailer’s stock valued at $217,169,000 after purchasing an additional 10,640 shares in the last quarter. Finally, KBC Group NV increased its position in shares of DICK’S Sporting Goods by 86.8% during the 4th quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer’s stock worth $107,043,000 after purchasing an additional 217,390 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

Wall Street Analyst Weigh In

DKS has been the subject of several recent analyst reports. TD Cowen increased their price objective on DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Loop Capital decreased their price objective on shares of DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating for the company in a research report on Thursday, March 13th. Telsey Advisory Group restated an “outperform” rating and set a $250.00 price objective on shares of DICK’S Sporting Goods in a research note on Friday, March 14th. Wedbush reiterated a “neutral” rating and issued a $215.00 target price on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Finally, Morgan Stanley boosted their price target on DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $245.50.

DICK’S Sporting Goods Stock Up 1.2 %

Shares of DKS opened at $207.97 on Wednesday. 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 stock has a market capitalization of $16.94 billion, a PE ratio of 14.87, a P/E/G ratio of 2.47 and a beta of 1.53. The firm’s 50 day moving average is $224.43 and its 200-day moving average is $216.65. DICK’S Sporting Goods, Inc. has a 12 month low of $182.84 and a 12 month high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings data 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 firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.85 EPS. Equities research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a yield of 2.33%. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 28th. DICK’S Sporting Goods’s dividend payout ratio is presently 34.54%.

DICK’S Sporting Goods announced that its board has authorized a share repurchase plan on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the completion of the transaction, the director now directly owns 50,997 shares in the company, valued at $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 16,504 shares in the company, valued at approximately $3,762,746.96. This represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 172,933 shares of company stock valued at $39,655,456 in the last ninety days. 32.03% of the stock is currently owned by company insiders.

DICK’S Sporting Goods Company 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.