Harvest Fund Management Co. Ltd Invests $1.44 Million in DICK’S Sporting Goods, Inc. (NYSE:DKS)

Harvest Fund Management Co. Ltd acquired a new stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,300 shares of the sporting goods retailer’s stock, valued at approximately $1,442,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DKS. Xponance Inc. grew its holdings in shares of DICK’S Sporting Goods by 14.7% during the fourth quarter. Xponance Inc. now owns 10,793 shares of the sporting goods retailer’s stock valued at $2,470,000 after purchasing an additional 1,386 shares during the last quarter. Intech Investment Management LLC lifted its position in DICK’S Sporting Goods by 125.3% in the fourth quarter. Intech Investment Management LLC now owns 51,538 shares of the sporting goods retailer’s stock worth $11,794,000 after purchasing an additional 28,662 shares during the period. Generali Asset Management SPA SGR acquired a new stake in DICK’S Sporting Goods in the fourth quarter worth approximately $115,000. Thrivent Financial for Lutherans lifted its position in DICK’S Sporting Goods by 24.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 21,694 shares of the sporting goods retailer’s stock worth $4,865,000 after purchasing an additional 4,267 shares during the period. Finally, Kensington Investment Counsel LLC lifted its position in shares of DICK’S Sporting Goods by 60.5% during the 4th quarter. Kensington Investment Counsel LLC now owns 5,885 shares of the sporting goods retailer’s stock valued at $1,347,000 after acquiring an additional 2,219 shares during the last quarter. 89.83% of the stock is owned by institutional investors.

DICK’S Sporting Goods Price Performance

Shares of DKS stock opened at $198.42 on Thursday. The stock has a 50 day moving average of $226.60 and a two-hundred day moving average of $217.31. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. DICK’S Sporting Goods, Inc. has a 12 month low of $182.84 and a 12 month high of $254.60. The company has a market capitalization of $16.17 billion, a P/E ratio of 14.18, a P/E/G ratio of 2.47 and a beta of 1.53.

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, topping analysts’ consensus estimates of $3.47 by $0.15. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the company earned $3.85 EPS. The company’s quarterly revenue was up .5% on a year-over-year basis. As a group, equities analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods announced that its board has authorized a stock buyback program on Tuesday, March 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Friday, March 28th. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 34.54%.

Insider Buying and Selling

In other DICK’S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the completion of the transaction, the director now directly owns 50,997 shares of the company’s stock, valued at approximately $11,808,355.35. This trade represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Edward W. Stack sold 160,600 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the completion of the sale, the chairman now directly owns 8,362,128 shares in the company, valued at approximately $1,917,017,844. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 172,933 shares of company stock worth $39,655,456 in the last 90 days. 32.03% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

DKS has been the topic of several recent analyst reports. Truist Financial set a $245.00 target price on shares of DICK’S Sporting Goods in a research note on Tuesday, March 11th. Loop Capital decreased their price objective on shares of DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating for the company in a report on Thursday, March 13th. Guggenheim reiterated a “neutral” rating on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Telsey Advisory Group reiterated an “outperform” rating and issued a $250.00 price objective on shares of DICK’S Sporting Goods in a report on Friday, March 14th. Finally, Robert W. Baird lowered their price target on DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, DICK’S Sporting Goods currently has an average rating of “Moderate Buy” and an average price target of $245.50.

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.