Daiwa Securities Group Inc. Has $1.36 Million Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Daiwa Securities Group Inc. increased its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 32.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,950 shares of the sporting goods retailer’s stock after acquiring an additional 1,450 shares during the period. Daiwa Securities Group Inc.’s holdings in DICK’S Sporting Goods were worth $1,362,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DKS. Holocene Advisors LP acquired a new stake in shares of DICK’S Sporting Goods during the third quarter worth $70,562,000. KBC Group NV increased its stake in DICK’S Sporting Goods by 86.8% in the 4th quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer’s stock valued at $107,043,000 after buying an additional 217,390 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in DICK’S Sporting Goods by 1,718.2% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 200,000 shares of the sporting goods retailer’s stock valued at $41,740,000 after buying an additional 189,000 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in DICK’S Sporting Goods in the 3rd quarter valued at $32,093,000. Finally, World Investment Advisors LLC acquired a new stake in DICK’S Sporting Goods in the 3rd quarter valued at $29,991,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on DKS shares. Truist Financial set a $245.00 price target on shares of DICK’S Sporting Goods in a research note on Tuesday. UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and lifted their price target for the company from $225.00 to $260.00 in a research note on Wednesday, November 27th. Telsey Advisory Group reiterated an “outperform” rating and issued a $250.00 price target on shares of DICK’S Sporting Goods in a research note on Friday. TD Cowen lifted their price objective on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley lifted their price objective on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, DICK’S Sporting Goods presently has a consensus rating of “Moderate Buy” and an average price target of $245.50.

Insider Activity

In other news, Director Lawrence J. Schorr sold 7,333 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total value of $1,697,956.15. Following the completion of the transaction, the director now directly owns 50,997 shares in the company, valued at approximately $11,808,355.35. The trade was a 12.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the transaction, the executive vice president now owns 16,504 shares of the company’s stock, valued at $3,762,746.96. The trade was a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is currently owned by corporate insiders.

DICK’S Sporting Goods Price Performance

Shares of DICK’S Sporting Goods stock opened at $194.74 on Friday. DICK’S Sporting Goods, Inc. has a twelve month low of $182.84 and a twelve month high of $254.60. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The company has a 50-day simple moving average of $228.59 and a two-hundred day simple moving average of $218.14. The stock has a market capitalization of $15.87 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share 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 quarter in the previous year, the company earned $3.85 EPS. The business’s revenue was up .5% on a year-over-year basis. Analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $1.2125 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a dividend yield of 2.49%. DICK’S Sporting Goods’s payout ratio is presently 31.45%.

DICK’S Sporting Goods declared that its board has initiated a share buyback 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 repurchase up to 18.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

DICK’S Sporting Goods 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.