Ground Swell Capital LLC Reduces Stock Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Ground Swell Capital LLC lessened its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 29.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 921 shares of the sporting goods retailer’s stock after selling 379 shares during the quarter. Ground Swell Capital LLC’s holdings in DICK’S Sporting Goods were worth $211,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research firms recently commented on DKS. Robert W. Baird reduced their price target on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Wells Fargo & Company reduced their target price on shares of DICK’S Sporting Goods from $205.00 to $171.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Citigroup reissued a “neutral” rating and set a $220.00 price target (down previously from $230.00) on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. DA Davidson reduced their price objective 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. Finally, Guggenheim reiterated a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $241.61.

DICK’S Sporting Goods Stock Performance

NYSE:DKS opened at $190.57 on Friday. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. DICK’S Sporting Goods, Inc. has a fifty-two week low of $166.37 and a fifty-two week high of $254.60. The firm’s fifty day simple moving average is $193.20 and its 200-day simple moving average is $211.49. The stock has a market cap of $15.22 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 2.47 and a beta of 1.16.

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 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 for the quarter, compared to analyst estimates of $3.76 billion. During the same period in the prior year, the business posted $3.85 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods declared that its Board of Directors has authorized 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 reacquire up to 18.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $1.2125 per share. The ex-dividend date of this dividend was Friday, March 28th. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a yield of 2.54%. DICK’S Sporting Goods’s payout ratio is currently 34.54%.

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.