Wellington Management Group LLP Purchases 2,282,300 Shares of DICK'S Sporting Goods, Inc. $DKS

Key Points

• Wellington Management Group LLP significantly increased its stake in DICK'S Sporting Goods by 416.9%, purchasing an additional 2,282,300 shares and owning a total of 2,829,780 shares worth approximately $570.37 million.
• DICK'S Sporting Goods announced a quarterly dividend of $1.2125 per share, representing an annualized dividend of $4.85 and yielding 2.2%.
• Equities analysts have mixed ratings on the stock, with an average price target of $223.06; twelve analysts rated it as a hold while nine assigned a buy rating.

Wellington Management Group LLP boosted its position in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 416.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,829,780 shares of the sporting goods retailer's stock after purchasing an additional 2,282,300 shares during the period. Wellington Management Group LLP owned about 3.54% of DICK'S Sporting Goods worth $570,370,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DKS. XTX Topco Ltd bought a new position in DICK'S Sporting Goods during the 4th quarter worth about $485,000. NewEdge Advisors LLC increased its holdings in DICK'S Sporting Goods by 2.9% during the 4th quarter. NewEdge Advisors LLC now owns 2,821 shares of the sporting goods retailer's stock worth $646,000 after purchasing an additional 80 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in DICK'S Sporting Goods during the 4th quarter worth about $2,426,000. GeoWealth Management LLC increased its holdings in DICK'S Sporting Goods by 17.3% during the 4th quarter. GeoWealth Management LLC now owns 785 shares of the sporting goods retailer's stock worth $180,000 after purchasing an additional 116 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in DICK'S Sporting Goods by 16.6% during the 4th quarter. First Trust Advisors LP now owns 462,983 shares of the sporting goods retailer's stock worth $105,949,000 after purchasing an additional 65,786 shares in the last quarter. Institutional investors own 89.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DKS shares. Truist Financial set a $230.00 price objective on DICK'S Sporting Goods in a report on Wednesday, May 28th. Bank of America reduced their price target on DICK'S Sporting Goods from $250.00 to $240.00 and set a "buy" rating for the company in a report on Tuesday, June 24th. Wells Fargo & Company raised their price objective on shares of DICK'S Sporting Goods from $187.00 to $215.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. Cowen restated a "hold" rating on shares of DICK'S Sporting Goods in a research report on Monday. Finally, Citigroup reiterated a "neutral" rating on shares of DICK'S Sporting Goods in a research report on Thursday, May 29th. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, DICK'S Sporting Goods currently has an average rating of "Hold" and an average price target of $223.06.

DICK'S Sporting Goods Stock Performance

NYSE DKS opened at $223.50 on Tuesday. The firm's fifty day moving average price is $203.77 and its two-hundred day moving average price is $201.19. The stock has a market cap of $17.89 billion, a PE ratio of 15.99, a PEG ratio of 3.19 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 company has a debt-to-equity ratio of 0.49, a quick ratio of 0.47 and a current ratio of 1.62.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last issued 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 company had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.12 billion. On average, equities analysts expect that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK'S Sporting Goods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $1.2125 dividend. The ex-dividend date was Friday, June 13th. This represents a $4.85 annualized dividend and a yield of 2.2%. DICK'S Sporting Goods's payout ratio is presently 34.69%.

Insiders Place Their Bets

In related news, EVP Navdeep Gupta sold 13,334 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $225.00, for a total value of $3,000,150.00. Following the transaction, the executive vice president owned 74,444 shares in the company, valued at $16,749,900. The trade was a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert W. Eddy bought 1,357 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was purchased at an average price of $185.31 per share, for a total transaction of $251,465.67. Following the acquisition, the director owned 4,768 shares of the company's stock, valued at $883,558.08. This trade represents a 39.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 69,200 shares of company stock valued at $14,462,923 over the last quarter. Company insiders own 32.55% of the company's stock.

DICK'S Sporting Goods Company 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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