Clark Capital Management Group Inc. Buys 2,228 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Clark Capital Management Group Inc. raised its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 336,295 shares of the sporting goods retailer’s stock after acquiring an additional 2,228 shares during the quarter. Clark Capital Management Group Inc. owned about 0.41% of DICK’S Sporting Goods worth $76,958,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DKS. New Wave Wealth Advisors LLC acquired a new position in DICK’S Sporting Goods in the 4th quarter valued at $28,000. Ancora Advisors LLC bought a new position in DICK’S Sporting Goods during the fourth quarter worth about $28,000. Rialto Wealth Management LLC bought a new stake in DICK’S Sporting Goods in the 4th quarter valued at about $30,000. Sound Income Strategies LLC grew its position in shares of DICK’S Sporting Goods by 590.0% during the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock worth $32,000 after purchasing an additional 118 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of DICK’S Sporting Goods by 108.6% during the fourth quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer’s stock worth $33,000 after purchasing an additional 76 shares during the period. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DKS has been the topic of a number of analyst reports. Robert W. Baird reduced their price target 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. Morgan Stanley upped their price objective on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Truist Financial set a $245.00 target price on shares of DICK’S Sporting Goods in a research report on Tuesday, March 11th. TD Cowen increased 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 research report on Wednesday, January 8th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $250.00 price objective on shares of DICK’S Sporting Goods in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, DICK’S Sporting Goods has an average rating of “Moderate Buy” and an average target price of $241.61.

DICK’S Sporting Goods Price Performance

Shares of DKS opened at $188.61 on Thursday. The firm has a fifty day simple moving average of $194.09 and a two-hundred day simple moving average of $211.77. The firm has a market cap of $15.06 billion, a PE ratio of 13.48, a P/E/G ratio of 2.47 and a beta of 1.16. 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 1-year low of $166.37 and a 1-year high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the prior year, the company earned $3.85 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. On average, equities analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the sporting goods retailer to buy up to 18.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were 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 was Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a yield of 2.57%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 34.54%.

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.