10,600 Shares in DICK'S Sporting Goods, Inc. (NYSE:DKS) Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,600 shares of the sporting goods retailer's stock, valued at approximately $2,426,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. World Investment Advisors LLC acquired a new position in shares of DICK'S Sporting Goods in the third quarter worth about $211,000. Wilmington Savings Fund Society FSB acquired a new position in shares of DICK'S Sporting Goods in the 3rd quarter valued at approximately $140,000. Tidal Investments LLC boosted its stake in shares of DICK'S Sporting Goods by 47.3% during the 3rd quarter. Tidal Investments LLC now owns 7,597 shares of the sporting goods retailer's stock valued at $1,585,000 after buying an additional 2,441 shares during the last quarter. Retirement Systems of Alabama grew its position in shares of DICK'S Sporting Goods by 13.3% during the third quarter. Retirement Systems of Alabama now owns 126,800 shares of the sporting goods retailer's stock worth $26,463,000 after buying an additional 14,934 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of DICK'S Sporting Goods in the fourth quarter worth $350,000. Hedge funds and other institutional investors own 89.83% of the company's stock.

DICK'S Sporting Goods Stock Performance

Shares of NYSE:DKS traded down $0.26 on Tuesday, hitting $189.61. The company's stock had a trading volume of 90,111 shares, compared to its average volume of 1,160,331. The company has a market capitalization of $15.14 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 2.47 and a beta of 1.32. 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 12 month low of $166.37 and a 12 month high of $254.60. The stock's 50-day moving average is $198.96 and its two-hundred day moving average is $212.87.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released 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. The firm had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $3.76 billion. DICK'S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. DICK'S Sporting Goods's quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $3.85 EPS. On average, 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders 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. The ex-dividend date of this dividend was Friday, March 28th. This represents a $4.85 annualized dividend and a dividend yield of 2.56%. DICK'S Sporting Goods's dividend payout ratio (DPR) is 34.54%.

DICK'S Sporting Goods announced that its Board of Directors has authorized a share buyback program on Tuesday, March 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Argus increased their price objective 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. Truist Financial set a $245.00 price target on DICK'S Sporting Goods in a research note on Tuesday, March 11th. Morgan Stanley upped their price objective on 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. Telsey Advisory Group reiterated an "outperform" rating and issued a $250.00 target price on shares of DICK'S Sporting Goods in a research report on Friday, March 14th. Finally, Loop Capital dropped their price target on DICK'S Sporting Goods from $240.00 to $195.00 and set a "hold" rating on the stock in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $244.72.

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.