KLP Kapitalforvaltning AS Buys New Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

KLP Kapitalforvaltning AS purchased a new stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,800 shares of the sporting goods retailer’s stock, valued at approximately $4,760,000.

A number of other hedge funds also recently made changes to their positions in the business. Commerce Bank lifted its stake in DICK’S Sporting Goods by 7.1% during the third quarter. Commerce Bank now owns 2,950 shares of the sporting goods retailer’s stock worth $616,000 after purchasing an additional 196 shares during the period. Cerity Partners LLC boosted its stake in DICK’S Sporting Goods by 108.5% in the 3rd quarter. Cerity Partners LLC now owns 14,647 shares of the sporting goods retailer’s stock valued at $3,057,000 after buying an additional 7,621 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in DICK’S Sporting Goods in the third quarter valued at $5,562,000. Daiwa Securities Group Inc. raised its stake in DICK’S Sporting Goods by 9.8% during the third quarter. Daiwa Securities Group Inc. now owns 4,500 shares of the sporting goods retailer’s stock worth $939,000 after acquiring an additional 400 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of DICK’S Sporting Goods during the third quarter valued at $27,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

DICK’S Sporting Goods Trading Up 1.2 %

NYSE:DKS opened at $207.97 on Wednesday. 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 $182.84 and a 1-year high of $254.60. The firm has a market capitalization of $16.94 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 2.47 and a beta of 1.53. The business’s 50-day moving average price is $224.43 and its two-hundred day moving average price is $216.65.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.15. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. DICK’S Sporting Goods’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the company posted $3.85 EPS. On average, equities analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given 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 dividend yield of 2.33%. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio is currently 34.54%.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DKS. UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and increased their target price for the stock from $225.00 to $260.00 in a research report on Wednesday, November 27th. Robert W. Baird cut 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. Citigroup restated a “neutral” rating and set a $220.00 price target (down from $230.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. DA Davidson cut 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 report on Wednesday, March 12th. Finally, TD Cowen increased their target price on DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, DICK’S Sporting Goods has a consensus rating of “Moderate Buy” and a consensus price target of $245.50.

Insider Buying and Selling

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the sale, the executive vice president now directly owns 16,504 shares of the company’s stock, valued at approximately $3,762,746.96. This represents a 23.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Edward W. Stack sold 160,600 shares of DICK’S Sporting Goods 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 completion of 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. In the last quarter, insiders have sold 172,933 shares of company stock valued at $39,655,456. 32.03% of the stock is owned by company insiders.

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.