Keystone Investors PTE Ltd. Makes New Investment in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Keystone Investors PTE Ltd. purchased a new stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 15,540 shares of the sporting goods retailer’s stock, valued at approximately $3,556,000.

Several other hedge funds and other institutional investors have also made changes to their positions in DKS. Brooklyn Investment Group bought a new stake in DICK’S Sporting Goods during the 3rd quarter valued at $27,000. New Wave Wealth Advisors LLC acquired a new position in shares of DICK’S Sporting Goods during the fourth quarter valued at $28,000. Rialto Wealth Management LLC bought a new stake in shares of DICK’S Sporting Goods during the fourth quarter valued at about $30,000. True Wealth Design LLC lifted its holdings in DICK’S Sporting Goods by 2,900.0% in the third quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock worth $31,000 after purchasing an additional 145 shares during the period. Finally, Sound Income Strategies LLC grew its position in DICK’S Sporting Goods by 590.0% in the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock valued at $32,000 after buying an additional 118 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $227.99, for a total value of $1,139,950.00. Following the completion of the sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at approximately $3,762,746.96. The trade was a 23.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the transaction, the chairman now directly owns 8,362,128 shares in the company, valued at approximately $1,917,017,844. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 172,933 shares of company stock valued at $39,655,456 in the last three months. Insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Price Performance

Shares of DKS opened at $206.06 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The company has a market capitalization of $16.79 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 2.47 and a beta of 1.53. The business’s 50-day moving average is $224.69 and its 200-day moving average is $216.65. DICK’S Sporting Goods, Inc. has a fifty-two week low of $182.84 and a fifty-two week high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.15. The firm 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 company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.85 EPS. Equities research 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 buyback plan on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a yield of 2.35%. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s payout ratio is 34.54%.

Analysts Set New Price Targets

A number of analysts have commented on DKS shares. Wedbush restated a “neutral” rating and set a $215.00 price target on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $250.00 price target on shares of DICK’S Sporting Goods in a research note on Friday, March 14th. Stifel Nicolaus decreased their target price on DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating for the company in a research note on Wednesday, March 12th. Loop Capital dropped their price target on shares of DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating on the stock in a research report on Thursday, March 13th. Finally, UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their price objective for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $245.50.

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.