Northern Trust Corp Purchases 129,783 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Northern Trust Corp lifted its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 27.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 594,995 shares of the sporting goods retailer’s stock after purchasing an additional 129,783 shares during the period. Northern Trust Corp’s holdings in DICK’S Sporting Goods were worth $136,159,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. XTX Topco Ltd bought a new stake in DICK’S Sporting Goods during the 4th quarter worth approximately $485,000. Marion Wealth Management bought a new stake in shares of DICK’S Sporting Goods in the fourth quarter worth $545,000. Argus Investors Counsel Inc. bought a new stake in shares of DICK’S Sporting Goods in the fourth quarter worth $257,000. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in DICK’S Sporting Goods by 78.2% during the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,495 shares of the sporting goods retailer’s stock worth $2,631,000 after purchasing an additional 5,046 shares during the last quarter. Finally, Principal Securities Inc. lifted its holdings in DICK’S Sporting Goods by 11.8% during the 4th quarter. Principal Securities Inc. now owns 3,589 shares of the sporting goods retailer’s stock worth $821,000 after buying an additional 380 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. DA Davidson decreased their price target on DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. TD Cowen raised their price target on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Loop Capital reduced their price objective on shares of DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating on the stock in a research note on Thursday, March 13th. Robert W. Baird lowered their target price 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. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $250.00 target price on shares of DICK’S Sporting Goods in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.61.

DICK’S Sporting Goods Stock Up 3.5 %

Shares of NYSE:DKS opened at $193.87 on Friday. 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, Inc. has a 52-week low of $166.37 and a 52-week high of $254.60. The business’s 50 day simple moving average is $196.26 and its two-hundred day simple moving average is $212.33. The firm has a market cap of $15.48 billion, a P/E ratio of 13.86, a PEG ratio of 2.47 and a beta of 1.32.

DICK’S Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) 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 analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. DICK’S Sporting Goods’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the business earned $3.85 EPS. As a group, research analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $1.2125 per share. The ex-dividend date of this dividend was Friday, March 28th. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a dividend yield of 2.50%. DICK’S Sporting Goods’s payout ratio is presently 34.54%.

DICK’S Sporting Goods declared that its Board of Directors has authorized a stock 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 buy up to 18.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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.