PDT Partners LLC Makes New $458,000 Investment in DICK'S Sporting Goods, Inc. (NYSE:DKS)

PDT Partners LLC bought a new stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,003 shares of the sporting goods retailer's stock, valued at approximately $458,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealthfront Advisers LLC bought a new position in DICK'S Sporting Goods in the fourth quarter valued at about $1,893,210,000. Norges Bank bought a new position in shares of DICK'S Sporting Goods in the 4th quarter worth approximately $221,693,000. Wellington Management Group LLP bought a new position in shares of DICK'S Sporting Goods in the 4th quarter worth approximately $125,285,000. KBC Group NV boosted its holdings in shares of DICK'S Sporting Goods by 86.8% in the fourth quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer's stock worth $107,043,000 after buying an additional 217,390 shares during the last quarter. Finally, Candlestick Capital Management LP bought a new stake in DICK'S Sporting Goods during the fourth quarter valued at approximately $41,354,000. 89.83% of the stock is owned by institutional investors.

DICK'S Sporting Goods Stock Down 0.2 %

Shares of DKS stock opened at $187.35 on Friday. The stock has a market cap of $14.96 billion, a P/E ratio of 13.39, a PEG ratio of 2.47 and a beta of 1.32. The company's fifty day simple moving average is $196.78 and its two-hundred day simple moving average is $212.43. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. DICK'S Sporting Goods, Inc. has a 52 week low of $166.37 and a 52 week high of $254.60.

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. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the prior year, the company earned $3.85 earnings per share. The firm's revenue was up .5% on a year-over-year basis. Analysts predict that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK'S Sporting Goods declared that its Board of Directors has approved a share repurchase program on Tuesday, March 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

DICK'S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $1.2125 dividend. This represents a $4.85 annualized dividend and a yield of 2.59%. The ex-dividend date was Friday, March 28th. This is a boost from DICK'S Sporting Goods's previous quarterly dividend of $1.10. DICK'S Sporting Goods's payout ratio is currently 34.54%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DKS. Loop Capital dropped their price target on shares of DICK'S Sporting Goods from $240.00 to $195.00 and set a "hold" rating on the stock in a research note on Thursday, March 13th. TD Cowen lifted their target price on DICK'S Sporting Goods from $270.00 to $294.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Guggenheim restated a "neutral" rating on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. StockNews.com cut DICK'S Sporting Goods from a "hold" rating to a "sell" rating in a research report on Tuesday, April 22nd. Finally, DA Davidson reduced their target price on shares of DICK'S Sporting Goods from $280.00 to $273.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $241.61.

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.

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