Arizona State Retirement System raised its stake in shares of Dicks Sporting Goods Inc (NYSE:DKS) by 23.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,512 shares of the sporting goods retailer’s stock after buying an additional 11,492 shares during the period. Arizona State Retirement System owned about 0.06% of Dicks Sporting Goods worth $1,710,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in DKS. Okumus Fund Management Ltd. purchased a new stake in shares of Dicks Sporting Goods in the 3rd quarter worth $46,406,000. USS Investment Management Ltd purchased a new stake in shares of Dicks Sporting Goods in the 4th quarter worth $25,871,000. Prudential Financial Inc. increased its stake in shares of Dicks Sporting Goods by 316.5% in the 3rd quarter. Prudential Financial Inc. now owns 1,158,619 shares of the sporting goods retailer’s stock worth $31,295,000 after purchasing an additional 880,464 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Dicks Sporting Goods by 58.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,717,065 shares of the sporting goods retailer’s stock worth $46,379,000 after purchasing an additional 636,186 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of Dicks Sporting Goods by 256.7% in the 3rd quarter. Schroder Investment Management Group now owns 543,300 shares of the sporting goods retailer’s stock worth $14,903,000 after purchasing an additional 391,000 shares in the last quarter. Institutional investors and hedge funds own 71.27% of the company’s stock.
DKS has been the subject of several analyst reports. Credit Suisse Group reduced their price objective on Dicks Sporting Goods from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, November 15th. UBS Group upgraded Dicks Sporting Goods from a “neutral” rating to a “positive” rating in a research note on Tuesday, January 23rd. Cowen restated a “hold” rating and issued a $26.00 price objective on shares of Dicks Sporting Goods in a research note on Friday, November 17th. Susquehanna Bancshares upgraded Dicks Sporting Goods from a “neutral” rating to a “positive” rating and upped their price objective for the stock from $25.00 to $41.00 in a research note on Tuesday, January 23rd. Finally, Zacks Investment Research upgraded Dicks Sporting Goods from a “sell” rating to a “hold” rating in a research note on Thursday, November 16th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $33.96.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 9th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Thursday, March 8th. This is an increase from Dicks Sporting Goods’s previous quarterly dividend of $0.17. Dicks Sporting Goods’s dividend payout ratio is 33.21%.
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Dicks Sporting Goods Profile
Dick’s Sporting Goods, Inc is an omni-channel sporting goods retailer offering an assortment of sports equipment, apparel, footwear and accessories in its specialty retail stores primarily in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, and Dick’s Team Sports HQ, an all-in-one youth sports digital platform offering free league management services, mobile applications for scheduling, communications and live scorekeeping, custom uniforms and FanWear and access to donations and sponsorships.
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