Keystone Investors PTE Ltd. Makes New $3.56 Million Investment in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Keystone Investors PTE Ltd. acquired a new stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,540 shares of the sporting goods retailer’s stock, valued at approximately $3,556,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. New Wave Wealth Advisors LLC acquired a new position in shares of DICK’S Sporting Goods during the 4th quarter valued at about $28,000. Brooklyn Investment Group acquired a new position in DICK’S Sporting Goods during the third quarter worth approximately $27,000. Rialto Wealth Management LLC purchased a new position in DICK’S Sporting Goods during the fourth quarter worth approximately $30,000. Sound Income Strategies LLC boosted its holdings in shares of DICK’S Sporting Goods by 590.0% in the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock valued at $32,000 after purchasing an additional 118 shares during the last quarter. Finally, True Wealth Design LLC grew its stake in shares of DICK’S Sporting Goods by 2,900.0% during the 3rd quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock valued at $31,000 after buying an additional 145 shares during the period. 89.83% of the stock is currently owned by institutional investors and hedge funds.

DICK’S Sporting Goods Stock Up 5.4 %

Shares of NYSE:DKS opened at $206.06 on Tuesday. The firm has a market cap of $16.79 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. The company has a fifty day simple moving average of $224.69 and a 200 day simple moving average of $216.65. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. DICK’S Sporting Goods, Inc. has a 12-month low of $182.84 and a 12-month high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last released 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. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the firm earned $3.85 EPS. The company’s revenue was up .5% on a year-over-year basis. On average, equities research analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $1.2125 dividend. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, March 28th. This represents a $4.85 annualized dividend and a dividend yield of 2.35%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 34.54%.

DICK’S Sporting Goods declared that its Board of Directors has approved a share buyback program on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

DKS has been the topic of several research reports. Argus increased their target price on DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Morgan Stanley lifted their price objective on DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Telsey Advisory Group reiterated an “outperform” rating and set a $250.00 target price on shares of DICK’S Sporting Goods in a report on Friday, March 14th. TD Cowen raised their price target on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Robert W. Baird decreased their price objective on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $245.50.

Insider Activity

In other DICK’S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total value of $1,697,956.15. Following the transaction, the director now owns 50,997 shares of the company’s stock, valued at $11,808,355.35. This trade represents a 12.57 % decrease in their ownership of the stock. The sale 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 company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the transaction, the chairman now directly owns 8,362,128 shares of the company’s stock, valued at $1,917,017,844. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is currently owned by insiders.

DICK’S Sporting Goods 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.