Masterton Capital Management LP Takes $4.12 Million Position in DICK'S Sporting Goods, Inc. (NYSE:DKS)

Masterton Capital Management LP purchased a new stake in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,000 shares of the sporting goods retailer's stock, valued at approximately $4,119,000. DICK'S Sporting Goods accounts for 2.3% of Masterton Capital Management LP's investment portfolio, making the stock its 19th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New Wave Wealth Advisors LLC acquired a new position in shares of DICK'S Sporting Goods during the 4th quarter worth about $28,000. Rialto Wealth Management LLC bought a new position in DICK'S Sporting Goods during the 4th quarter worth approximately $30,000. Sound Income Strategies LLC boosted its stake in DICK'S Sporting Goods by 590.0% during the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer's stock worth $32,000 after acquiring an additional 118 shares during the last quarter. Bessemer Group Inc. grew its holdings in DICK'S Sporting Goods by 108.6% during the fourth quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer's stock valued at $33,000 after purchasing an additional 76 shares during the period. Finally, Promus Capital LLC bought a new stake in DICK'S Sporting Goods in the fourth quarter valued at approximately $48,000. 89.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Robert W. Baird reduced their price target on shares of DICK'S Sporting Goods from $235.00 to $230.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 12th. Guggenheim restated a "neutral" rating on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Citigroup reiterated a "neutral" rating and set a $220.00 price objective (down previously from $230.00) on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. TD Cowen increased their target price on DICK'S Sporting Goods from $270.00 to $294.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, StockNews.com downgraded shares of DICK'S Sporting Goods from a "hold" rating to a "sell" rating in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $241.61.

DICK'S Sporting Goods Stock Up 3.5 %

Shares of NYSE DKS traded up $6.52 during trading hours on Friday, hitting $193.87. The company had a trading volume of 897,675 shares, compared to its average volume of 1,167,904. DICK'S Sporting Goods, Inc. has a 1-year low of $166.37 and a 1-year high of $254.60. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The firm's 50 day moving average is $196.26 and its 200-day moving average is $212.32. The stock has a market capitalization of $15.48 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 2.47 and a beta of 1.32.

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 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.15. The firm had revenue of $3.89 billion during the quarter, compared to analysts' expectations of $3.76 billion. DICK'S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the company posted $3.85 earnings per share. On average, analysts expect that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

DICK'S Sporting Goods Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a dividend of $1.2125 per share. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Friday, March 28th. DICK'S Sporting Goods's payout ratio is currently 34.54%.

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.