Norges Bank Purchases New Stake in Dicks Sporting Goods Inc (DKS)

Norges Bank purchased a new stake in Dicks Sporting Goods Inc (NYSE:DKS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,595,000 shares of the sporting goods retailer’s stock, valued at approximately $49,764,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DKS. Boston Partners raised its position in Dicks Sporting Goods by 58.8% in the 4th quarter. Boston Partners now owns 3,324,592 shares of the sporting goods retailer’s stock valued at $103,728,000 after buying an additional 1,230,592 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Dicks Sporting Goods by 2,975.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 945,235 shares of the sporting goods retailer’s stock valued at $30,000 after buying an additional 914,503 shares during the last quarter. Bank of New York Mellon Corp raised its position in Dicks Sporting Goods by 36.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,312,654 shares of the sporting goods retailer’s stock valued at $117,532,000 after buying an additional 877,277 shares during the last quarter. FMR LLC raised its position in Dicks Sporting Goods by 504.5% in the 3rd 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 last quarter. Finally, Brown Advisory Inc. purchased a new stake in Dicks Sporting Goods in the 4th quarter valued at $14,913,000. 83.11% of the stock is owned by institutional investors and hedge funds.

DKS stock opened at $41.18 on Thursday. The company has a quick ratio of 0.20, a current ratio of 1.41 and a debt-to-equity ratio of 0.03. The firm has a market cap of $3.91 billion, a PE ratio of 12.71, a PEG ratio of 2.13 and a beta of 0.56. Dicks Sporting Goods Inc has a fifty-two week low of $29.69 and a fifty-two week high of $41.19.

Dicks Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Tuesday, March 12th. The sporting goods retailer reported $1.07 earnings per share for the quarter, hitting the consensus estimate of $1.07. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.22 EPS. On average, equities analysts forecast that Dicks Sporting Goods Inc will post 3.26 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.275 per share. This is an increase from Dicks Sporting Goods’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, March 14th. This represents a $1.10 annualized dividend and a dividend yield of 2.67%. Dicks Sporting Goods’s dividend payout ratio is presently 33.95%.

A number of research firms recently commented on DKS. Citigroup began coverage on Dicks Sporting Goods in a research report on Wednesday. They issued a “neutral” rating and a $40.00 price target for the company. Telsey Advisory Group reissued an “outperform” rating and issued a $41.00 price target (down from $44.00) on shares of Dicks Sporting Goods in a research report on Wednesday, March 13th. Zacks Investment Research lowered Dicks Sporting Goods from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. ValuEngine raised Dicks Sporting Goods from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Canaccord Genuity set a $54.00 target price on Dicks Sporting Goods and gave the company a “buy” rating in a research report on Thursday, December 20th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Dicks Sporting Goods presently has a consensus rating of “Hold” and a consensus target price of $41.17.

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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 for scheduling, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.

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Institutional Ownership by Quarter for Dicks Sporting Goods (NYSE:DKS)

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