Wealth Enhancement Advisory Services LLC Has $6.94 Million Stock Holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Wealth Enhancement Advisory Services LLC lifted its position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 255.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,434 shares of the sporting goods retailer's stock after acquiring an additional 24,746 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in DICK'S Sporting Goods were worth $6,940,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fifth Third Bancorp lifted its holdings in DICK'S Sporting Goods by 27.5% during the 1st quarter. Fifth Third Bancorp now owns 968 shares of the sporting goods retailer's stock worth $195,000 after buying an additional 209 shares during the period. Handelsbanken Fonder AB lifted its holdings in DICK'S Sporting Goods by 18.6% during the 1st quarter. Handelsbanken Fonder AB now owns 17,200 shares of the sporting goods retailer's stock worth $3,467,000 after buying an additional 2,700 shares during the period. GAMMA Investing LLC lifted its holdings in DICK'S Sporting Goods by 20.3% during the 1st quarter. GAMMA Investing LLC now owns 1,448 shares of the sporting goods retailer's stock worth $292,000 after buying an additional 244 shares during the period. Yousif Capital Management LLC raised its position in shares of DICK'S Sporting Goods by 36.7% in the 1st quarter. Yousif Capital Management LLC now owns 20,907 shares of the sporting goods retailer's stock worth $4,214,000 after acquiring an additional 5,618 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of DICK'S Sporting Goods by 12.3% in the 1st quarter. Farther Finance Advisors LLC now owns 2,012 shares of the sporting goods retailer's stock worth $415,000 after acquiring an additional 220 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

DICK'S Sporting Goods Trading Up 1.4%

Shares of DKS stock opened at $178.20 on Wednesday. The company's fifty day simple moving average is $183.15 and its two-hundred day simple moving average is $206.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.62 and a quick ratio of 0.47. DICK'S Sporting Goods, Inc. has a 1 year low of $166.37 and a 1 year high of $254.60. The stock has a market capitalization of $14.26 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 2.51 and a beta of 1.07.

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 earnings per share for the quarter, hitting the consensus estimate of $3.37. The firm had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.12 billion. DICK'S Sporting Goods had a net margin of 8.49% and a return on equity of 38.06%. As a group, analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, June 13th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.72%. DICK'S Sporting Goods's dividend payout ratio (DPR) is currently 34.69%.

DICK'S Sporting Goods announced that its board has authorized a share buyback program on Tuesday, March 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DKS shares. TD Cowen lowered DICK'S Sporting Goods from a "buy" rating to a "hold" rating and set a $216.00 price objective for the company. in a research report on Thursday, May 15th. Gordon Haskett lowered DICK'S Sporting Goods from a "buy" rating to a "reduce" rating and set a $170.00 target price for the company. in a research report on Friday, May 16th. Citigroup reaffirmed a "neutral" rating on shares of DICK'S Sporting Goods in a research report on Thursday, May 29th. DA Davidson decreased their target price on DICK'S Sporting Goods from $273.00 to $230.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Finally, Truist Financial set a $230.00 target price on 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 given a buy rating to the stock. Based on data from MarketBeat, DICK'S Sporting Goods has a consensus rating of "Hold" and an average target price of $219.56.

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.

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