Focus Partners Wealth Has $1.02 Million Stock Position in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Focus Partners Wealth increased its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 27.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,427 shares of the sporting goods retailer’s stock after acquiring an additional 945 shares during the quarter. Focus Partners Wealth’s holdings in DICK’S Sporting Goods were worth $1,015,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new stake in shares of DICK’S Sporting Goods in the fourth quarter worth about $28,000. Ancora Advisors LLC bought a new stake in DICK’S Sporting Goods during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new stake in DICK’S Sporting Goods during the 4th quarter worth approximately $30,000. Sound Income Strategies LLC lifted its stake in 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 buying an additional 118 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of DICK’S Sporting Goods by 108.6% in the fourth quarter. Bessemer Group Inc. now owns 146 shares of the sporting goods retailer’s stock valued at $33,000 after buying an additional 76 shares during the period. 89.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays reduced their target price on shares of DICK’S Sporting Goods from $254.00 to $223.00 and set an “overweight” rating for the company in a research note on Monday, May 12th. Citigroup reaffirmed a “neutral” rating and set a $220.00 price objective (down from $230.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Telsey Advisory Group reiterated an “outperform” rating and set a $250.00 price objective on shares of DICK’S Sporting Goods in a report on Thursday. Robert W. Baird dropped their target price on DICK’S Sporting Goods from $230.00 to $185.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Wells Fargo & Company upped their price target on DICK’S Sporting Goods from $171.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $229.79.

DICK’S Sporting Goods Trading Up 2.8%

DICK’S Sporting Goods stock opened at $184.01 on Friday. The stock has a 50-day simple moving average of $192.01 and a 200 day simple moving average of $211.39. The stock has a market capitalization of $14.69 billion, a P/E ratio of 13.15, a PEG ratio of 2.47 and a beta of 1.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. DICK’S Sporting Goods, Inc. has a 52 week low of $166.37 and a 52 week high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping the consensus estimate of $3.47 by $0.15. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.85 EPS. Analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the sporting goods retailer to reacquire up to 18.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a $1.2125 dividend. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. 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. DICK’S Sporting Goods’s payout ratio is currently 34.54%.

About DICK’S Sporting Goods

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.