Cetera Investment Advisers Has $3.24 Million Stock Holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Cetera Investment Advisers grew its stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 12.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,138 shares of the sporting goods retailer's stock after buying an additional 1,600 shares during the period. Cetera Investment Advisers' holdings in DICK'S Sporting Goods were worth $3,235,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wealthfront Advisers LLC purchased a new position in DICK'S Sporting Goods during the 4th quarter valued at about $1,893,210,000. Norges Bank purchased a new position in shares of DICK'S Sporting Goods during the fourth quarter valued at approximately $221,693,000. Wellington Management Group LLP purchased a new stake in DICK'S Sporting Goods during the fourth quarter valued at $125,285,000. KBC Group NV boosted its holdings in shares of DICK'S Sporting Goods by 86.8% in the fourth quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer's stock worth $107,043,000 after buying an additional 217,390 shares during the last quarter. Finally, Candlestick Capital Management LP purchased a new position in shares of DICK'S Sporting Goods during the 4th quarter worth $41,354,000. Institutional investors own 89.83% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Truist Financial set a $245.00 price target on shares of DICK'S Sporting Goods in a research report on Tuesday, March 11th. DA Davidson reiterated a "buy" rating and issued a $273.00 price target on shares of DICK'S Sporting Goods in a research report on Friday, May 16th. Gordon Haskett lowered shares of DICK'S Sporting Goods from a "buy" rating to a "reduce" rating and set a $170.00 price objective on the stock. in a research report on Friday, May 16th. Morgan Stanley lifted their target price on 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. Finally, Barclays set a $217.00 price objective on DICK'S Sporting Goods in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, DICK'S Sporting Goods currently has an average rating of "Hold" and an average price target of $229.47.

DICK'S Sporting Goods Trading Down 4.2%

Shares of DKS stock traded down $7.75 on Wednesday, reaching $175.32. 1,471,742 shares of the stock were exchanged, compared to its average volume of 1,241,402. The firm has a 50 day moving average of $191.70 and a two-hundred day moving average of $211.22. The stock has a market cap of $14.00 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 2.47 and a beta of 1.16. 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 1-year low of $166.37 and a 1-year high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping the consensus estimate 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 company's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company posted $3.85 earnings per share. On average, research analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK'S Sporting Goods Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $1.2125 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a yield of 2.77%. This is a boost from DICK'S Sporting Goods's previous quarterly dividend of $1.10. DICK'S Sporting Goods's dividend payout ratio (DPR) is currently 34.54%.

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

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.