Wealthquest Corp Takes $712,000 Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Wealthquest Corp 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 and Exchange Commission (SEC). The firm bought 3,530 shares of the sporting goods retailer's stock, valued at approximately $712,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Independent Advisor Alliance increased its stake in shares of DICK'S Sporting Goods by 5.4% in the fourth quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer's stock valued at $235,000 after buying an additional 53 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of DICK'S Sporting Goods by 2.2% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer's stock valued at $577,000 after buying an additional 54 shares in the last quarter. EP Wealth Advisors LLC increased its stake in shares of DICK'S Sporting Goods by 5.9% in the fourth quarter. EP Wealth Advisors LLC now owns 1,016 shares of the sporting goods retailer's stock valued at $232,000 after buying an additional 57 shares in the last quarter. Pine Haven Investment Counsel Inc increased its stake in shares of DICK'S Sporting Goods by 4.9% in the first quarter. Pine Haven Investment Counsel Inc now owns 1,279 shares of the sporting goods retailer's stock valued at $258,000 after buying an additional 60 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in shares of DICK'S Sporting Goods by 9.4% in the fourth quarter. IFP Advisors Inc now owns 769 shares of the sporting goods retailer's stock valued at $176,000 after buying an additional 66 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

DICK'S Sporting Goods Trading Up 3.6%

DICK'S Sporting Goods stock traded up $7.10 during midday trading on Friday, hitting $202.98. 3,979,568 shares of the stock were exchanged, compared to its average volume of 1,287,616. The company has a fifty day simple moving average of $183.82 and a two-hundred day simple moving average of $206.11. DICK'S Sporting Goods, Inc. has a 52 week low of $166.37 and a 52 week high of $254.60. The stock has a market capitalization of $16.25 billion, a PE ratio of 14.52, a P/E/G ratio of 2.79 and a beta of 1.07. The company has a quick ratio of 0.47, a current ratio of 1.62 and a debt-to-equity ratio of 0.49.

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 for the quarter, hitting the consensus estimate of $3.37. DICK'S Sporting Goods had a net margin of 8.49% and a return on equity of 38.06%. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.12 billion. Equities research analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK'S Sporting Goods announced that its board has initiated a share buyback plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

DICK'S Sporting Goods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $1.2125 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $4.85 annualized dividend and a yield of 2.39%. DICK'S Sporting Goods's dividend payout ratio (DPR) is currently 34.69%.

Insiders Place Their Bets

In related news, Director Robert W. Eddy bought 1,357 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were purchased at an average cost of $185.31 per share, for a total transaction of $251,465.67. Following the acquisition, the director now owns 4,768 shares of the company's stock, valued at approximately $883,558.08. This represents a 39.78% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Julie Lodge-Jarrett sold 3,541 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $187.00, for a total transaction of $662,167.00. Following the sale, the executive vice president now owns 19,165 shares in the company, valued at $3,583,855. This trade represents a 15.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 32.55% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DKS. Stifel Nicolaus lowered their target price on DICK'S Sporting Goods from $226.00 to $192.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Guggenheim reiterated a "neutral" rating on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Citigroup reissued a "neutral" rating on shares of DICK'S Sporting Goods in a report on Thursday, May 29th. Bank of America reduced their target price on shares of DICK'S Sporting Goods from $250.00 to $240.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, Robert W. Baird reduced their target price on shares of DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating on the stock in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.