Polymer Capital Management HK LTD Invests $572,000 in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Polymer Capital Management HK LTD acquired a new position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,500 shares of the sporting goods retailer’s stock, valued at approximately $572,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DKS. Wealthfront Advisers LLC bought a new position in DICK’S Sporting Goods in the 4th quarter valued at approximately $1,893,210,000. Norges Bank acquired a new stake in DICK’S Sporting Goods in the fourth quarter valued at $221,693,000. Wellington Management Group LLP acquired a new position in DICK’S Sporting Goods during the 4th quarter worth about $125,285,000. KBC Group NV grew its position in shares of DICK’S Sporting Goods by 86.8% in the 4th 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. acquired a new stake in shares of DICK’S Sporting Goods in the fourth quarter valued at about $23,791,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citigroup reissued a “neutral” rating and set a $220.00 target price (down previously from $230.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. TD Cowen lifted their target price on shares of 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. Morgan Stanley upped their price target on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Truist Financial set a $245.00 price objective on DICK’S Sporting Goods in a research report on Tuesday, March 11th. Finally, Argus upped their target price on DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $245.50.

DICK’S Sporting Goods Stock Down 1.3 %

DICK’S Sporting Goods stock opened at $182.63 on Monday. The firm has a market capitalization of $14.58 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 2.47 and a beta of 1.32. The firm’s fifty day moving average price is $219.03 and its two-hundred day moving average price is $216.07. DICK’S Sporting Goods, Inc. has a 1-year low of $168.22 and a 1-year high of $254.60. 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 (NYSE:DKS) last posted its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.15. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates 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 was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.85 EPS. On average, equities research analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid 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 is Friday, March 28th. This represents a $4.85 annualized dividend and a yield of 2.66%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 34.54%.

DICK’S Sporting Goods announced that its board has initiated a share repurchase 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 reacquire up to 18.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the sale, the executive vice president now directly owns 16,504 shares of the company’s stock, valued at $3,762,746.96. This trade represents a 23.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 32.03% of the company’s stock.

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.