Handelsbanken Fonder AB Acquires 9,600 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Handelsbanken Fonder AB grew its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 98.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,400 shares of the sporting goods retailer’s stock after buying an additional 9,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in DICK’S Sporting Goods were worth $2,851,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of DKS. Victory Capital Management Inc. boosted its holdings in shares of DICK’S Sporting Goods by 9,735.6% in the third quarter. Victory Capital Management Inc. now owns 2,239,273 shares of the sporting goods retailer’s stock valued at $243,140,000 after purchasing an additional 2,216,506 shares during the period. AQR Capital Management LLC boosted its holdings in shares of DICK’S Sporting Goods by 145.0% in the third quarter. AQR Capital Management LLC now owns 789,482 shares of the sporting goods retailer’s stock valued at $85,722,000 after purchasing an additional 467,243 shares during the period. Barclays PLC lifted its holdings in DICK’S Sporting Goods by 148.3% during the third quarter. Barclays PLC now owns 592,991 shares of the sporting goods retailer’s stock worth $64,388,000 after buying an additional 354,217 shares during the period. Invesco Ltd. lifted its holdings in DICK’S Sporting Goods by 230.0% during the third quarter. Invesco Ltd. now owns 427,767 shares of the sporting goods retailer’s stock worth $46,447,000 after buying an additional 298,121 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in DICK’S Sporting Goods by 24,818.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 174,429 shares of the sporting goods retailer’s stock worth $18,940,000 after buying an additional 173,729 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Trading Up 1.4 %

DICK’S Sporting Goods stock opened at $207.12 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.78 and a debt-to-equity ratio of 0.57. DICK’S Sporting Goods, Inc. has a 52 week low of $100.98 and a 52 week high of $225.79. The company has a market capitalization of $17.08 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 2.49 and a beta of 1.58. The stock has a 50-day moving average price of $198.51 and a 200 day moving average price of $156.27.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Thursday, March 14th. The sporting goods retailer reported $3.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.35 by $0.50. DICK’S Sporting Goods had a return on equity of 42.99% and a net margin of 8.06%. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the previous year, the company posted $2.93 earnings per share. DICK’S Sporting Goods’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.26 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued a $1.10 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a yield of 2.12%. DICK’S Sporting Goods’s payout ratio is presently 36.12%.

Insider Buying and Selling at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, major shareholder William Colombo Trustee U/A Dt bought 40,000 shares of DICK’S Sporting Goods stock in a transaction dated Friday, March 15th. The stock was acquired at an average cost of $213.93 per share, with a total value of $8,557,200.00. Following the purchase, the insider now directly owns 8,818,615 shares in the company, valued at approximately $1,886,566,306.95. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Elizabeth H. Baran sold 2,175 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $221.78, for a total transaction of $482,371.50. Following the completion of the transaction, the senior vice president now directly owns 11,051 shares of the company’s stock, valued at approximately $2,450,890.78. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder William Colombo Trustee U/A Dt bought 40,000 shares of DICK’S Sporting Goods stock in a transaction dated Friday, March 15th. The shares were acquired at an average cost of $213.93 per share, with a total value of $8,557,200.00. Following the completion of the purchase, the insider now owns 8,818,615 shares in the company, valued at $1,886,566,306.95. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 209,763 shares of company stock valued at $46,483,438. 30.79% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DKS. Evercore ISI upped their target price on DICK’S Sporting Goods from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. Robert W. Baird upped their target price on DICK’S Sporting Goods from $145.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. TD Cowen upped their target price on DICK’S Sporting Goods from $177.00 to $226.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Truist Financial upped their target price on DICK’S Sporting Goods from $201.00 to $243.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Finally, Williams Trading upgraded DICK’S Sporting Goods from a “hold” rating to a “buy” rating and upped their target price for the stock from $154.00 to $235.00 in a report on Thursday, March 14th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $208.64.

About DICK’S Sporting Goods

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.