Wealthquest Corp Purchases New Shares in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Wealthquest Corp purchased a new stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,530 shares of the sporting goods retailer's stock, valued at approximately $712,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Park Square Financial Group LLC purchased a new stake in DICK'S Sporting Goods in the 4th quarter valued at $27,000. Ancora Advisors LLC purchased a new stake in DICK'S Sporting Goods in the 4th quarter valued at $28,000. Rialto Wealth Management LLC purchased a new stake in DICK'S Sporting Goods in the 4th quarter valued at $30,000. Bessemer Group Inc. raised its position in DICK'S Sporting Goods by 108.6% in the 4th quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock valued at $33,000 after buying an additional 76 shares during the last quarter. Finally, Promus Capital LLC purchased a new stake in DICK'S Sporting Goods in the 4th quarter valued at $48,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

DICK'S Sporting Goods Stock Up 1.4%

DKS stock opened at $178.20 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.47 and a current ratio of 1.62. The company 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, Inc. has a fifty-two week low of $166.37 and a fifty-two week high of $254.60. The stock has a fifty day moving average of $183.15 and a 200-day moving average of $206.45.

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

DICK'S Sporting Goods declared that its Board of Directors has approved a stock repurchase program on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the sporting goods retailer to buy up to 18.5% of its stock through open market purchases. Stock repurchase programs are generally an indication 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 will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $1.2125 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $4.85 annualized dividend and a yield of 2.72%. DICK'S Sporting Goods's dividend payout ratio is currently 34.69%.

Wall Street Analyst Weigh In

A number of research firms recently commented on DKS. Telsey Advisory Group reissued an "outperform" rating and issued a $220.00 price target on shares of DICK'S Sporting Goods in a research report on Wednesday, May 28th. TD Cowen lowered DICK'S Sporting Goods from a "buy" rating to a "hold" rating and set a $216.00 target price for the company. in a research report on Thursday, May 15th. Bank of America decreased their target price on DICK'S Sporting Goods from $250.00 to $240.00 and set a "buy" rating for the company in a research report on Tuesday. 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. Finally, Wedbush reaffirmed a "neutral" rating and set a $215.00 target price on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company currently 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.

Want to see what other hedge funds are holding DKS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.