DICK’S Sporting Goods, Inc. (NYSE:DKS) Shares Bought by Korea Investment CORP

Korea Investment CORP raised its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 79.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,601 shares of the sporting goods retailer’s stock after acquiring an additional 26,004 shares during the quarter. Korea Investment CORP owned approximately 0.07% of DICK’S Sporting Goods worth $13,410,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cerity Partners LLC lifted its holdings in DICK’S Sporting Goods by 108.5% in the 3rd quarter. Cerity Partners LLC now owns 14,647 shares of the sporting goods retailer’s stock valued at $3,057,000 after purchasing an additional 7,621 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of DICK’S Sporting Goods in the third quarter valued at about $27,000. BNP Paribas Financial Markets lifted its stake in shares of DICK’S Sporting Goods by 0.5% in the third quarter. BNP Paribas Financial Markets now owns 51,795 shares of the sporting goods retailer’s stock worth $10,810,000 after buying an additional 259 shares in the last quarter. Townsquare Capital LLC boosted its position in DICK’S Sporting Goods by 9.2% during the third quarter. Townsquare Capital LLC now owns 1,298 shares of the sporting goods retailer’s stock worth $271,000 after acquiring an additional 109 shares during the last quarter. Finally, Bridgewater Associates LP grew its stake in DICK’S Sporting Goods by 245.7% during the 3rd quarter. Bridgewater Associates LP now owns 6,002 shares of the sporting goods retailer’s stock valued at $1,253,000 after acquiring an additional 4,266 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. DA Davidson decreased their target price on shares of DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Robert W. Baird reduced their price objective on 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. Citigroup restated a “neutral” rating and issued a $220.00 target price (down from $230.00) on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Stifel Nicolaus reduced their price target on DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating on the stock in a report on Wednesday, March 12th. Finally, Truist Financial set a $245.00 price target on shares of DICK’S Sporting Goods in a research report on Tuesday, March 11th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, DICK’S Sporting Goods presently has a consensus rating of “Moderate Buy” and an average price target of $245.50.

DICK’S Sporting Goods Stock Down 3.8 %

Shares of NYSE:DKS opened at $202.09 on Monday. The firm has a market capitalization of $16.47 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods, Inc. has a 1 year low of $182.84 and a 1 year high of $254.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The firm’s 50-day moving average is $223.19 and its two-hundred day moving average is $216.62.

DICK’S Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.15. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.85 EPS. Analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a yield of 2.40%. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 28th. DICK’S Sporting Goods’s payout ratio is presently 34.54%.

DICK’S Sporting Goods announced that its board has authorized a share buyback plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the completion of the transaction, the director now owns 50,997 shares in the company, valued at $11,808,355.35. The trade was a 12.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the completion of the sale, the chairman now owns 8,362,128 shares in the company, valued at $1,917,017,844. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 172,933 shares of company stock worth $39,655,456 in the last quarter. 32.03% of the stock is owned by company insiders.

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.