Burling Wealth Partners LLC Buys New Shares in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Burling Wealth Partners LLC purchased a new position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,998 shares of the sporting goods retailer's stock, valued at approximately $1,601,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. New Wave Wealth Advisors LLC bought a new stake in DICK'S Sporting Goods during the fourth quarter worth $28,000. Rialto Wealth Management LLC bought a new stake in shares of DICK'S Sporting Goods in the 4th quarter valued at about $30,000. Sound Income Strategies LLC lifted its stake in DICK'S Sporting Goods by 590.0% in the 4th 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. Bessemer Group Inc. grew its holdings in DICK'S Sporting Goods by 108.6% during the fourth quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock worth $33,000 after purchasing an additional 76 shares during the period. Finally, Promus Capital LLC acquired a new position in DICK'S Sporting Goods during the fourth quarter worth approximately $48,000. Institutional investors own 89.83% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Truist Financial set a $245.00 target price on DICK'S Sporting Goods in a research note on Tuesday, March 11th. Stifel Nicolaus reduced their price objective on shares of DICK'S Sporting Goods from $226.00 to $192.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Morgan Stanley increased their price objective on shares of DICK'S Sporting Goods from $245.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. Citigroup reaffirmed a "neutral" rating and set a $220.00 target price (down previously from $230.00) on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Finally, Argus increased 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 report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $244.72.

DICK'S Sporting Goods Price Performance

Shares of NYSE DKS traded up $0.26 during midday trading on Tuesday, reaching $190.13. 183,328 shares of the company were exchanged, compared to its average volume of 1,160,664. 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, Inc. has a one year low of $166.37 and a one year high of $254.60. The stock has a market cap of $15.18 billion, a P/E ratio of 13.55, a PEG ratio of 2.47 and a beta of 1.32. The stock's 50-day moving average price is $198.96 and its 200-day moving average price is $212.87.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its 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. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period last year, the company earned $3.85 earnings per share. The business's quarterly revenue was up .5% on a year-over-year basis. On average, sell-side analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share 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. Investors 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 2.55%. The ex-dividend date of this dividend was Friday, March 28th. DICK'S Sporting Goods's dividend payout ratio (DPR) is currently 34.54%.

DICK'S Sporting Goods announced that its board has approved 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 buy up to 18.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

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.