Mackenzie Financial Corp Acquires 27,575 Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS)

Mackenzie Financial Corp increased its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 49.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 83,522 shares of the sporting goods retailer’s stock after purchasing an additional 27,575 shares during the quarter. Mackenzie Financial Corp’s holdings in DICK’S Sporting Goods were worth $19,113,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new position in DICK’S Sporting Goods in the fourth quarter valued at about $28,000. Ancora Advisors LLC purchased a new position in DICK’S Sporting Goods in the fourth quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new position in DICK’S Sporting Goods in the fourth quarter valued at about $30,000. Sound Income Strategies LLC grew 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 purchasing an additional 118 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in 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 purchasing an additional 76 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on DKS shares. Loop Capital cut their target price on DICK’S Sporting Goods from $195.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, May 16th. Gordon Haskett downgraded shares of DICK’S Sporting Goods from a “buy” rating to a “reduce” rating and set a $170.00 target price for the company. in a research note on Friday, May 16th. Stifel Nicolaus lowered their target price on shares of DICK’S Sporting Goods from $226.00 to $192.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Citigroup restated a “neutral” rating and issued a $220.00 target price (down from $230.00) on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Finally, DA Davidson reiterated a “buy” rating and issued a $273.00 price target on shares of DICK’S Sporting Goods in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $229.47.

DICK’S Sporting Goods Stock Down 2.9%

DICK’S Sporting Goods stock opened at $167.36 on Tuesday. 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 fifty-two week low of $166.37 and a fifty-two week high of $254.60. The business’s 50-day simple moving average is $189.68 and its two-hundred day simple moving average is $210.54. The company has a market cap of $13.37 billion, a PE ratio of 11.96, a PEG ratio of 2.47 and a beta of 1.16.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, beating 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 business posted $3.85 EPS. The business’s quarterly revenue was up .5% compared to the same quarter last year. Equities analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

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 paid a dividend of $1.2125 per share. The ex-dividend date was Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.90%. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 34.54%.

DICK’S Sporting Goods declared that its board has authorized a share buyback plan 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 plans are generally a sign that the company’s board believes its stock is undervalued.

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.