DICK'S Sporting Goods, Inc. (NYSE:DKS) Stake Raised by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its position in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 27.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 325,084 shares of the sporting goods retailer's stock after acquiring an additional 70,899 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.40% of DICK'S Sporting Goods worth $74,392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. New Wave Wealth Advisors LLC bought a new stake in DICK'S Sporting Goods during the fourth quarter valued at $28,000. Rialto Wealth Management LLC bought a new stake in shares of DICK'S Sporting Goods during the 4th quarter valued at about $30,000. Sound Income Strategies LLC raised its stake in DICK'S Sporting Goods by 590.0% during the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer's stock worth $32,000 after acquiring an additional 118 shares during the period. Bessemer Group Inc. lifted its holdings in DICK'S Sporting Goods by 108.6% in the fourth quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock worth $33,000 after acquiring an additional 76 shares during the last quarter. Finally, Promus Capital LLC acquired a new position in DICK'S Sporting Goods in the fourth quarter valued at approximately $48,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley boosted their price objective 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. Wells Fargo & Company cut their target price on DICK'S Sporting Goods from $205.00 to $171.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Guggenheim restated a "neutral" rating on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Argus lifted 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 report on Wednesday, January 29th. Finally, Robert W. Baird reduced their target price on shares of DICK'S Sporting Goods from $235.00 to $230.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $241.61.

DICK'S Sporting Goods Price Performance

Shares of DKS stock traded up $6.52 during mid-day trading on Friday, hitting $193.87. 897,675 shares of the stock traded hands, compared to its average volume of 1,166,003. DICK'S Sporting Goods, Inc. has a twelve month low of $166.37 and a twelve month high of $254.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The company's 50-day simple moving average is $196.26 and its 200-day simple moving average is $212.33. The firm has a market cap of $15.48 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 2.47 and a beta of 1.32.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the company earned $3.85 earnings per share. DICK'S Sporting Goods's revenue was up .5% compared to the same quarter last year. As a group, equities research analysts expect that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a $1.2125 dividend. This is a positive change from DICK'S Sporting Goods's previous quarterly dividend of $1.10. The ex-dividend date was Friday, March 28th. This represents a $4.85 annualized dividend and a yield of 2.50%. DICK'S Sporting Goods's payout ratio is 34.54%.

DICK'S Sporting Goods declared that its Board of Directors has initiated a share buyback program 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 programs are often a sign that the company's leadership believes its stock is undervalued.

DICK'S Sporting Goods 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.