Cipher Capital LP bought a new stake in shares of Dicks Sporting Goods Inc (NYSE:DKS) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 23,742 shares of the sporting goods retailer’s stock, valued at approximately $741,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Dicks Sporting Goods by 1.5% during the third quarter. BlackRock Inc. now owns 7,004,228 shares of the sporting goods retailer’s stock valued at $248,511,000 after buying an additional 102,949 shares during the period. Brown Advisory Inc. purchased a new position in shares of Dicks Sporting Goods during the fourth quarter valued at approximately $14,913,000. Polianta Ltd purchased a new position in shares of Dicks Sporting Goods during the fourth quarter valued at approximately $1,079,000. FMR LLC increased its stake in shares of Dicks Sporting Goods by 504.5% during the third quarter. FMR LLC now owns 1,019,461 shares of the sporting goods retailer’s stock valued at $36,172,000 after buying an additional 850,809 shares during the period. Finally, Zuckerman Investment Group LLC purchased a new position in shares of Dicks Sporting Goods during the third quarter valued at approximately $7,584,000. Institutional investors and hedge funds own 83.11% of the company’s stock.
DKS has been the topic of several research analyst reports. Zacks Investment Research cut Dicks Sporting Goods from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. ValuEngine raised Dicks Sporting Goods from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Canaccord Genuity set a $54.00 price target on Dicks Sporting Goods and gave the stock a “buy” rating in a research note on Thursday, December 20th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $41.00 price target (down from $44.00) on shares of Dicks Sporting Goods in a research note on Wednesday, March 13th. Finally, Citigroup began coverage on Dicks Sporting Goods in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $40.00 price target on the stock. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Dicks Sporting Goods presently has a consensus rating of “Hold” and a consensus price target of $41.17.
Dicks Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, March 12th. The sporting goods retailer reported $1.07 EPS for the quarter, meeting analysts’ consensus estimates of $1.07. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.48 billion. Dicks Sporting Goods had a return on equity of 16.88% and a net margin of 3.79%. The firm’s revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.22 earnings per share. On average, research analysts predict that Dicks Sporting Goods Inc will post 3.26 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.77%. This is a positive change from Dicks Sporting Goods’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, March 14th. Dicks Sporting Goods’s dividend payout ratio (DPR) is presently 33.95%.
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Dicks Sporting Goods Profile
Dick's Sporting Goods, Inc operates as a sporting goods retailer primarily in the eastern United States. It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories. The company also owns and operates Golf Galaxy, Field & Stream, and other specialty concept stores; and e-commerce Websites, as well as Dick's Team Sports HQ, a youth sports digital platform that offers free league management services, mobile apps, free league management services, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.
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