DICK’S Sporting Goods, Inc. (NYSE:DKS) is Tabor Asset Management LP’s 7th Largest Position

Tabor Asset Management LP raised its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 237.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,244 shares of the sporting goods retailer’s stock after purchasing an additional 26,200 shares during the quarter. DICK’S Sporting Goods accounts for approximately 4.1% of Tabor Asset Management LP’s investment portfolio, making the stock its 7th biggest holding. Tabor Asset Management LP’s holdings in DICK’S Sporting Goods were worth $8,523,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Park Avenue Securities LLC grew its stake in shares of DICK’S Sporting Goods by 24.0% during the 4th quarter. Park Avenue Securities LLC now owns 4,088 shares of the sporting goods retailer’s stock worth $936,000 after purchasing an additional 792 shares during the period. Ritholtz Wealth Management acquired a new stake in DICK’S Sporting Goods during the fourth quarter valued at $200,000. Arkadios Wealth Advisors grew its position in DICK’S Sporting Goods by 82.8% during the fourth quarter. Arkadios Wealth Advisors now owns 7,494 shares of the sporting goods retailer’s stock valued at $1,715,000 after buying an additional 3,395 shares during the period. HB Wealth Management LLC purchased a new position in DICK’S Sporting Goods in the fourth quarter valued at $317,000. Finally, Pine Haven Investment Counsel Inc acquired a new position in shares of DICK’S Sporting Goods in the fourth quarter worth about $279,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

DICK’S Sporting Goods Trading Up 2.8%

DKS opened at $184.01 on Monday. The firm has a market capitalization of $14.69 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.16. The company’s 50 day simple moving average is $192.01 and its two-hundred day simple moving average is $211.50. DICK’S Sporting Goods, Inc. has a 1-year low of $166.37 and a 1-year high of $254.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, beating the consensus estimate of $3.47 by $0.15. The firm had revenue of $3.89 billion during 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%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $3.85 earnings per share. Analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

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

DICK’S Sporting Goods Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, March 28th. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s payout ratio is currently 34.54%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Guggenheim restated a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Morgan Stanley upped their target price on DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. TD Cowen lowered DICK’S Sporting Goods from a “buy” rating to a “hold” rating and set a $216.00 target price on the stock. in a research report on Thursday. Argus boosted their price target on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price objective on shares of DICK’S Sporting Goods from $171.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $229.79.

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.