Strategic Wealth Partners Ltd. Buys New Stake in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Strategic Wealth Partners Ltd. bought a new stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,203 shares of the sporting goods retailer's stock, valued at approximately $6,842,000.

A number of other hedge funds have also made changes to their positions in DKS. Wealthfront Advisers LLC acquired a new position in shares of DICK'S Sporting Goods during the fourth quarter valued at approximately $1,893,210,000. Norges Bank acquired a new position in shares of DICK'S Sporting Goods during the fourth quarter valued at approximately $221,693,000. Wellington Management Group LLP acquired a new stake in shares of DICK'S Sporting Goods in the fourth quarter valued at approximately $125,285,000. Junto Capital Management LP acquired a new stake in shares of DICK'S Sporting Goods in the fourth quarter valued at approximately $89,351,000. Finally, KBC Group NV increased its holdings in shares of DICK'S Sporting Goods by 86.8% in the fourth quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer's stock valued at $107,043,000 after purchasing an additional 217,390 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

DICK'S Sporting Goods Trading Down 3.9%

Shares of DKS traded down $7.07 during midday trading on Wednesday, hitting $176.00. 2,231,221 shares of the stock were exchanged, compared to its average volume of 1,244,665. The firm has a market cap of $14.05 billion, a P/E ratio of 12.58, a P/E/G ratio of 2.47 and a beta of 1.16. The stock has a fifty day simple moving average of $191.70 and a 200 day simple moving average of $211.22. DICK'S Sporting Goods, Inc. has a 52-week low of $166.37 and a 52-week 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.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its quarterly 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. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. DICK'S Sporting Goods's revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $3.85 EPS. On average, research analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK'S Sporting Goods declared that its Board of Directors has initiated a stock buyback plan 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 buy up to 18.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

DICK'S Sporting Goods Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $1.2125 dividend. This represents a $4.85 annualized dividend and a yield of 2.76%. The ex-dividend date was Friday, March 28th. This is a boost from DICK'S Sporting Goods's previous quarterly dividend of $1.10. DICK'S Sporting Goods's payout ratio is 34.54%.

Wall Street Analyst Weigh In

DKS has been the subject of several recent research reports. StockNews.com raised DICK'S Sporting Goods from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Argus increased their price target on DICK'S Sporting Goods from $255.00 to $280.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Wells Fargo & Company increased their price target on DICK'S Sporting Goods from $171.00 to $187.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Robert W. Baird cut their price target on DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating for the company in a report on Friday, May 16th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, DICK'S Sporting Goods presently has a consensus rating of "Hold" and an average target price of $229.47.

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.