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

Daiwa Securities Group Inc. grew its stake in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 32.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,950 shares of the sporting goods retailer’s stock after buying 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 filing with the SEC.

Other large investors have also made changes to their positions in the company. New Wave Wealth Advisors LLC acquired a new position in shares of DICK’S Sporting Goods during the fourth quarter valued at about $28,000. Brooklyn Investment Group acquired a new position in DICK’S Sporting Goods in the third quarter worth about $27,000. Rialto Wealth Management LLC acquired a new position in DICK’S Sporting Goods in the fourth quarter worth about $30,000. Sound Income Strategies LLC raised its position 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 worth $32,000 after purchasing an additional 118 shares in the last quarter. Finally, True Wealth Design LLC raised its position in DICK’S Sporting Goods by 2,900.0% in the third quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock worth $31,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the sale, the chairman now directly owns 8,362,128 shares in the company, valued at approximately $1,917,017,844. This trade represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the sale, the executive vice president now owns 16,504 shares in the company, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,933 shares of company stock worth $39,655,456. Company insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Price Performance

Shares of DKS stock opened at $194.74 on Friday. DICK’S Sporting Goods, Inc. has a 52-week low of $182.84 and a 52-week high of $254.60. The stock has a market cap of $15.87 billion, a PE ratio of 13.92, a PEG ratio of 2.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The firm’s 50 day moving average price is $228.59 and its two-hundred day moving average price is $218.14.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same period last year, the firm earned $3.85 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. As a group, analysts forecast that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods announced that its Board of Directors has approved a share repurchase program on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid 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 dividend on an annualized basis and a yield of 2.49%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 31.45%.

Wall Street Analysts Forecast Growth

DKS has been the subject of several recent research reports. Morgan Stanley increased their price target on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Argus increased their price target on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. UBS Group raised shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and increased their price target for the stock from $225.00 to $260.00 in a research report on Wednesday, November 27th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $250.00 price objective on shares of DICK’S Sporting Goods in a research note on Friday. Finally, Citigroup reaffirmed a “neutral” rating and set a $220.00 price objective (down from $230.00) on shares of DICK’S Sporting Goods in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DICK’S Sporting Goods presently has an average rating of “Moderate Buy” and a consensus price target of $245.50.

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.