Cartenna Capital LP Makes New $27.03 Million Investment in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Cartenna Capital LP bought a new stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 118,120 shares of the sporting goods retailer's stock, valued at approximately $27,031,000. DICK'S Sporting Goods accounts for approximately 1.3% of Cartenna Capital LP's investment portfolio, making the stock its 20th largest position. Cartenna Capital LP owned about 0.14% of DICK'S Sporting Goods as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in DKS. New Wave Wealth Advisors LLC bought a new stake in shares of DICK'S Sporting Goods in the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new stake in shares of DICK'S Sporting Goods in the 4th quarter valued at approximately $30,000. Sound Income Strategies LLC grew its stake in shares of 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 buying an additional 118 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of DICK'S Sporting Goods by 108.6% in the 4th quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock valued at $33,000 after buying an additional 76 shares in the last quarter. Finally, Promus Capital LLC bought a new stake in shares of DICK'S Sporting Goods in the 4th quarter valued at approximately $48,000. Institutional investors and hedge funds own 89.83% of the company's stock.

DICK'S Sporting Goods Price Performance

NYSE DKS traded down $0.83 on Tuesday, reaching $189.05. The company's stock had a trading volume of 177,343 shares, compared to its average volume of 1,347,958. The firm has a market cap of $15.10 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 2.47 and a beta of 1.32. The business has a 50-day moving average price of $198.96 and a 200 day moving average price of $212.87. DICK'S Sporting Goods, Inc. has a 52 week low of $166.37 and a 52 week high of $254.60. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48.

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 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.15. The business 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%. The firm's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.85 earnings per share. Sell-side analysts expect 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 was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a yield of 2.57%. This is a boost from DICK'S Sporting Goods's previous quarterly dividend of $1.10. The ex-dividend date was Friday, March 28th. DICK'S Sporting Goods's dividend payout ratio is currently 34.54%.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Stifel Nicolaus lowered their price target on DICK'S Sporting Goods from $226.00 to $192.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Morgan Stanley upped their target price 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. StockNews.com lowered shares of DICK'S Sporting Goods from a "hold" rating to a "sell" rating in a research report on Tuesday, April 22nd. Wedbush reaffirmed a "neutral" rating and set a $215.00 price objective on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Finally, Loop Capital dropped their target price on shares of DICK'S Sporting Goods from $240.00 to $195.00 and set a "hold" rating on the stock in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $244.72.

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.