Korea Investment CORP Boosts Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Korea Investment CORP boosted its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 79.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 58,601 shares of the sporting goods retailer’s stock after buying an additional 26,004 shares during the quarter. Korea Investment CORP’s holdings in DICK’S Sporting Goods were worth $13,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Cerity Partners LLC lifted its holdings in shares of 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 purchasing an additional 7,621 shares during the last quarter. Brooklyn Investment Group acquired a new position in DICK’S Sporting Goods during the third quarter worth approximately $27,000. BNP Paribas Financial Markets lifted its stake in DICK’S Sporting Goods by 0.5% in the third quarter. BNP Paribas Financial Markets now owns 51,795 shares of the sporting goods retailer’s stock valued at $10,810,000 after buying an additional 259 shares during the last quarter. Townsquare Capital LLC boosted its holdings in shares of DICK’S Sporting Goods by 9.2% in the third quarter. Townsquare Capital LLC now owns 1,298 shares of the sporting goods retailer’s stock valued at $271,000 after acquiring an additional 109 shares during the period. Finally, Bridgewater Associates LP boosted its holdings in shares of DICK’S Sporting Goods by 245.7% in the third quarter. Bridgewater Associates LP now owns 6,002 shares of the sporting goods retailer’s stock valued at $1,253,000 after acquiring an additional 4,266 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the sale, the chairman now owns 8,362,128 shares in the company, valued at approximately $1,917,017,844. This represents a 1.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 16,504 shares of the company’s stock, valued at $3,762,746.96. The trade was a 23.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,933 shares of company stock worth $39,655,456. Insiders own 32.03% of the company’s stock.

Analyst Ratings Changes

DKS has been the subject of several research reports. Citigroup reiterated a “neutral” rating and issued a $220.00 price target (down previously from $230.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Stifel Nicolaus decreased their target price on shares of 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. Truist Financial set a $245.00 price target on DICK’S Sporting Goods in a report on Tuesday, March 11th. Wedbush reaffirmed a “neutral” rating and set a $215.00 price objective on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Finally, DA Davidson lowered their target price on DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $245.50.

DICK’S Sporting Goods Price Performance

Shares of NYSE:DKS opened at $202.09 on Monday. DICK’S Sporting Goods, Inc. has a 12 month low of $182.84 and a 12 month high of $254.60. The firm has a market capitalization of $16.47 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. The business’s 50 day simple moving average is $223.19 and its 200-day simple moving average is $216.62. 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 earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.15. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the business earned $3.85 earnings per share. DICK’S Sporting Goods’s quarterly revenue was up .5% compared to the same quarter last year. As a group, equities analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods announced that its board has approved a share 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 buy up to 18.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $1.2125 per share. 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 yield of 2.40%. The ex-dividend date is Friday, March 28th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 34.54%.

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.