GAMMA Investing LLC Has $58.83 Million Stake in DICK'S Sporting Goods, Inc. (NYSE:DKS)

GAMMA Investing LLC lifted its stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 24,140.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 291,859 shares of the sporting goods retailer's stock after acquiring an additional 290,655 shares during the quarter. GAMMA Investing LLC owned about 0.37% of DICK'S Sporting Goods worth $58,827,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DKS. Blue Trust Inc. increased its stake in shares of DICK'S Sporting Goods by 47.6% during the fourth quarter. Blue Trust Inc. now owns 1,473 shares of the sporting goods retailer's stock valued at $307,000 after acquiring an additional 475 shares during the period. DAVENPORT & Co LLC grew its position in DICK'S Sporting Goods by 12.0% in the fourth quarter. DAVENPORT & Co LLC now owns 2,828 shares of the sporting goods retailer's stock worth $647,000 after buying an additional 303 shares during the last quarter. Greenleaf Trust grew its position in DICK'S Sporting Goods by 3.0% in the fourth quarter. Greenleaf Trust now owns 1,721 shares of the sporting goods retailer's stock worth $394,000 after buying an additional 50 shares during the last quarter. Burford Brothers Inc. grew its position in DICK'S Sporting Goods by 19.6% in the fourth quarter. Burford Brothers Inc. now owns 2,809 shares of the sporting goods retailer's stock worth $643,000 after buying an additional 461 shares during the last quarter. Finally, Trust Point Inc. grew its position in DICK'S Sporting Goods by 34.8% in the fourth quarter. Trust Point Inc. now owns 1,876 shares of the sporting goods retailer's stock worth $429,000 after buying an additional 484 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

DICK'S Sporting Goods Stock Up 1.0%

Shares of NYSE:DKS traded up $1.74 during trading on Friday, reaching $180.74. 794,091 shares of the company traded hands, compared to its average volume of 1,251,456. The firm has a fifty day simple moving average of $185.16 and a 200 day simple moving average of $209.09. The firm has a market cap of $14.43 billion, a P/E ratio of 12.92, a price-to-earnings-growth 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. 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 (NYSE:DKS - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.12 billion. Analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods announced that its board has initiated a stock repurchase plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in 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 generally an indication that the company's management believes its shares are undervalued.

DICK'S Sporting Goods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $1.2125 dividend. This represents a $4.85 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, June 13th. DICK'S Sporting Goods's payout ratio is presently 34.69%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of DICK'S Sporting Goods from $224.00 to $195.00 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. Wells Fargo & Company lifted their price target 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. Citigroup restated a "neutral" rating on shares of DICK'S Sporting Goods in a research report on Thursday, May 29th. Barclays lifted their price target 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. Finally, Wedbush restated a "neutral" rating and issued a $215.00 price target on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $220.11.

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.