Ritholtz Wealth Management Grows Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Ritholtz Wealth Management increased its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 37.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,201 shares of the sporting goods retailer’s stock after purchasing an additional 325 shares during the quarter. Ritholtz Wealth Management’s holdings in DICK’S Sporting Goods were worth $242,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Independent Advisor Alliance grew its position in shares of DICK’S Sporting Goods by 5.4% during the fourth quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer’s stock worth $235,000 after purchasing an additional 53 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in shares of DICK’S Sporting Goods by 2.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer’s stock worth $577,000 after purchasing an additional 54 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in DICK’S Sporting Goods by 5.9% during the 4th quarter. EP Wealth Advisors LLC now owns 1,016 shares of the sporting goods retailer’s stock valued at $232,000 after buying an additional 57 shares in the last quarter. Pine Haven Investment Counsel Inc grew its holdings in DICK’S Sporting Goods by 4.9% during the 1st quarter. Pine Haven Investment Counsel Inc now owns 1,279 shares of the sporting goods retailer’s stock valued at $258,000 after buying an additional 60 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in DICK’S Sporting Goods by 9.4% during the 4th quarter. IFP Advisors Inc now owns 769 shares of the sporting goods retailer’s stock valued at $176,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on DKS shares. Loop Capital cut their price target on DICK’S Sporting Goods from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, May 16th. DA Davidson cut their price target on DICK’S Sporting Goods from $273.00 to $230.00 and set a “buy” rating for the company in a report on Thursday, May 29th. Robert W. Baird cut their price target on DICK’S Sporting Goods from $230.00 to $185.00 and set a “neutral” rating for the company in a report on Friday, May 16th. Gordon Haskett cut DICK’S Sporting Goods from a “buy” rating to a “reduce” rating and set a $170.00 price target for the company. in a report on Friday, May 16th. Finally, Wall Street Zen upgraded DICK’S Sporting Goods from a “sell” rating to a “hold” rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $220.11.

DICK’S Sporting Goods Price Performance

Shares of DKS stock opened at $173.64 on Friday. DICK’S Sporting Goods, Inc. has a 52-week low of $166.37 and a 52-week high of $254.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.47 and a current ratio of 1.62. The firm has a market capitalization of $13.90 billion, a P/E ratio of 12.42, a P/E/G ratio of 2.48 and a beta of 1.07. The stock has a 50 day moving average price of $183.45 and a 200 day moving average price of $206.98.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.37. DICK’S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.12 billion. As a group, sell-side analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a dividend of $1.2125 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $4.85 annualized dividend and a yield of 2.79%. DICK’S Sporting Goods’s payout ratio is currently 34.69%.

DICK’S Sporting Goods declared that its board has approved a stock repurchase program on Tuesday, March 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership 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.