Merit Financial Group LLC Takes Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Merit Financial Group LLC bought a new stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,441 shares of the sporting goods retailer's stock, valued at approximately $290,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DKS. Park Square Financial Group LLC acquired a new position in shares of DICK'S Sporting Goods during the 4th quarter valued at about $27,000. Ancora Advisors LLC acquired a new position in DICK'S Sporting Goods in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC purchased a new position in DICK'S Sporting Goods in the fourth quarter worth approximately $30,000. Bessemer Group Inc. raised its position 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 valued at $33,000 after purchasing an additional 76 shares during the period. Finally, Promus Capital LLC acquired a new position in shares of DICK'S Sporting Goods in the 4th quarter valued at $48,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DKS. Robert W. Baird reduced their price objective on shares of DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating on the stock in a report on Friday, May 16th. TD Cowen downgraded shares of DICK'S Sporting Goods from a "buy" rating to a "hold" rating and set a $216.00 price target on the stock. in a research note on Thursday, May 15th. Wells Fargo & Company increased their price objective on shares of DICK'S Sporting Goods from $171.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Guggenheim reissued a "neutral" rating on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Finally, Loop Capital decreased their price target on DICK'S Sporting Goods from $195.00 to $180.00 and set a "hold" rating on the stock in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, DICK'S Sporting Goods has a consensus rating of "Hold" and a consensus price target of $220.11.

DICK'S Sporting Goods Stock Down 0.3%

DICK'S Sporting Goods stock traded down $0.57 during mid-day trading on Thursday, hitting $184.23. The company had a trading volume of 1,169,769 shares, compared to its average volume of 1,254,463. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average of $184.57 and a 200 day moving average of $208.71. The stock has a market cap of $14.71 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 2.47 and a beta of 1.07. 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 released its quarterly earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 EPS for the quarter, hitting the consensus estimate of $3.37. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.12 billion. On average, sell-side analysts expect that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, June 13th. DICK'S Sporting Goods's dividend payout ratio (DPR) is presently 34.69%.

DICK'S Sporting Goods announced that its Board of Directors has authorized a share buyback plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the sporting goods retailer to reacquire up to 18.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are 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.