Advisor Resource Council Takes $1.34 Million Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Advisor Resource Council bought a new stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,641 shares of the sporting goods retailer's stock, valued at approximately $1,339,000.

Several other institutional investors also recently made changes to their positions in the stock. Park Square Financial Group LLC acquired a new position in DICK'S Sporting Goods during the 4th quarter valued at approximately $27,000. Ancora Advisors LLC bought a new position in shares of DICK'S Sporting Goods during the fourth quarter worth about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of DICK'S Sporting Goods in the 4th quarter worth about $30,000. Bessemer Group Inc. lifted its position in 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 purchasing an additional 76 shares during the last quarter. Finally, Promus Capital LLC acquired a new position in DICK'S Sporting Goods during the 4th quarter valued at about $48,000. 89.83% of the stock is owned by institutional investors.

DICK'S Sporting Goods Stock Up 1.4%

NYSE:DKS traded up $2.41 during trading hours on Tuesday, hitting $178.20. 954,540 shares of the stock traded hands, compared to its average volume of 1,259,274. The firm has a 50 day moving average price of $183.27 and a 200 day moving average price of $206.65. The firm has a market cap of $14.26 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 2.47 and a beta of 1.07. DICK'S Sporting Goods, Inc. has a fifty-two week low of $166.37 and a fifty-two week high of $254.60. The company has a current ratio of 1.62, a quick ratio of 0.47 and a debt-to-equity ratio of 0.49.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.37. DICK'S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.12 billion. Equities research analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $1.2125 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $4.85 dividend on an annualized basis and a yield of 2.72%. DICK'S Sporting Goods's payout ratio is 34.69%.

DICK'S Sporting Goods declared that its Board of Directors has approved a share buyback plan on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

DKS has been the subject of a number of recent analyst reports. Telsey Advisory Group reissued an "outperform" rating and issued a $220.00 price objective on shares of DICK'S Sporting Goods in a report on Wednesday, May 28th. Citigroup reissued a "neutral" rating on shares of DICK'S Sporting Goods in a report on Thursday, May 29th. Truist Financial set a $230.00 price objective on shares of DICK'S Sporting Goods in a report on Wednesday, May 28th. Barclays raised their target price on shares of DICK'S Sporting Goods from $217.00 to $232.00 and gave the company an "overweight" rating in a research note on Thursday, May 29th. Finally, Loop Capital reduced their price target on shares of DICK'S Sporting Goods from $195.00 to $180.00 and set a "hold" rating for the company 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 nine have given a buy rating to the company's stock. According to data from MarketBeat.com, DICK'S Sporting Goods presently has an average rating of "Hold" and a consensus price target of $219.56.

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.