Letko Brosseau & Associates Inc. Has $12.41 Million Stock Holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Letko Brosseau & Associates Inc. lessened its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 54,220 shares of the sporting goods retailer’s stock after selling 360 shares during the period. Letko Brosseau & Associates Inc.’s holdings in DICK’S Sporting Goods were worth $12,408,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. New Wave Wealth Advisors LLC bought a new stake in DICK’S Sporting Goods in the fourth quarter valued at $28,000. Ancora Advisors LLC acquired a new stake in shares of DICK’S Sporting Goods during the fourth quarter worth $28,000. Rialto Wealth Management LLC acquired a new position in DICK’S Sporting Goods during the fourth quarter valued at approximately $30,000. Sound Income Strategies LLC raised its position in shares of DICK’S Sporting Goods by 590.0% during the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock worth $32,000 after purchasing an additional 118 shares during the period. 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.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Citigroup reissued a “neutral” rating and issued a $220.00 price objective (down previously from $230.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Argus raised their price objective on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Robert W. Baird decreased their price target on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Wedbush reiterated 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, Guggenheim restated a “neutral” rating on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.61.

DICK’S Sporting Goods Stock Performance

NYSE DKS opened at $190.57 on Monday. The stock’s 50 day simple moving average is $193.20 and its 200-day simple moving average is $211.58. The company has a market cap of $15.22 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 2.47 and a beta of 1.16. 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, Inc. has a 1-year low of $166.37 and a 1-year 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 (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.15. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the previous year, the company earned $3.85 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. As a group, equities research analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a yield of 2.54%. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date was Friday, March 28th. DICK’S Sporting Goods’s dividend payout ratio is 34.54%.

DICK’S Sporting Goods declared that its board has approved a stock repurchase program 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 purchase up to 18.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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.