Handelsbanken Fonder AB Has $3.47 Million Stock Holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Handelsbanken Fonder AB grew its stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 18.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,200 shares of the sporting goods retailer's stock after acquiring an additional 2,700 shares during the period. Handelsbanken Fonder AB's holdings in DICK'S Sporting Goods were worth $3,467,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wealthfront Advisers LLC bought a new stake in DICK'S Sporting Goods in the fourth quarter worth $1,893,210,000. Norges Bank bought a new stake in DICK'S Sporting Goods in the fourth quarter worth $221,693,000. Wellington Management Group LLP bought a new stake in DICK'S Sporting Goods in the fourth quarter worth $125,285,000. Junto Capital Management LP bought a new stake in DICK'S Sporting Goods in the fourth quarter worth $89,351,000. Finally, GAMMA Investing LLC boosted its holdings in DICK'S Sporting Goods by 24,140.8% in the first quarter. GAMMA Investing LLC now owns 291,859 shares of the sporting goods retailer's stock worth $58,827,000 after purchasing an additional 290,655 shares in the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

DICK'S Sporting Goods Stock Performance

Shares of DKS traded down $8.01 during trading hours on Friday, reaching $176.38. 1,422,033 shares of the company traded hands, compared to its average volume of 1,259,042. The stock's fifty day moving average is $184.82 and its 200 day moving average is $208.21. The stock has a market cap of $14.09 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 2.47 and a beta of 1.07. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. 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 posted its quarterly earnings results 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 net margin of 8.65% and a return on equity of 42.00%. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.12 billion. Equities research analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

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

DICK'S Sporting Goods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a $1.2125 dividend. This represents a $4.85 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, June 13th. DICK'S Sporting Goods's dividend payout ratio (DPR) is presently 34.69%.

Analyst Ratings Changes

A number of brokerages recently issued reports on DKS. Wedbush reiterated a "neutral" rating and issued a $215.00 price objective on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Loop Capital decreased their price objective on shares of DICK'S Sporting Goods from $195.00 to $180.00 and set a "hold" rating for the company in a report on Friday, May 16th. Barclays boosted their target price on shares of DICK'S Sporting Goods from $217.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. Guggenheim reissued a "neutral" rating on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $220.00 target price on shares of DICK'S Sporting Goods in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $220.11.

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.