T. Rowe Price Investment Management Inc. Grows Holdings in DICK'S Sporting Goods, Inc. (NYSE:DKS)

T. Rowe Price Investment Management Inc. grew its position in DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 31.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 159,424 shares of the sporting goods retailer's stock after purchasing an additional 38,564 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.20% of DICK'S Sporting Goods worth $36,483,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wealthfront Advisers LLC acquired a new stake in shares of DICK'S Sporting Goods during the fourth quarter worth about $1,893,210,000. Norges Bank purchased a new position in DICK'S Sporting Goods in the 4th quarter valued at about $221,693,000. Wellington Management Group LLP purchased a new stake in shares of DICK'S Sporting Goods during the fourth quarter worth approximately $125,285,000. KBC Group NV raised its position 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 valued at $107,043,000 after buying an additional 217,390 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in DICK'S Sporting Goods in the 4th quarter worth approximately $23,791,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of DICK'S Sporting Goods from $226.00 to $192.00 and set a "hold" rating for the company in a report on Thursday, April 10th. TD Cowen boosted 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. DA Davidson reduced their price objective on shares of DICK'S Sporting Goods from $280.00 to $273.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Guggenheim reissued a "neutral" rating on shares of DICK'S Sporting Goods in a report on Wednesday, March 12th. Finally, Citigroup reissued a "neutral" rating and issued a $220.00 target price (down from $230.00) on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $241.61.

DICK'S Sporting Goods Price Performance

NYSE:DKS traded down $0.39 during mid-day trading on Thursday, hitting $187.35. 937,332 shares of the company's stock traded hands, compared to its average volume of 1,342,597. The firm's 50 day simple moving average is $197.43 and its 200 day simple moving average is $212.56. The company has a market cap of $14.96 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 2.47 and a beta of 1.32. 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 debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.15. DICK'S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm posted $3.85 earnings per share. The company's quarterly revenue was up .5% compared to the same quarter last year. Sell-side analysts expect that DICK'S Sporting Goods, Inc. will post 13.89 EPS for the current year.

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

DICK'S Sporting Goods Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.59%. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Friday, March 28th. DICK'S Sporting Goods's dividend payout ratio (DPR) is 34.54%.

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.