Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 5.38MM shares of Dick's Sporting Goods, Inc. (DKS). This represents 8.99% of the company.
In their previous filing dated February 9, 2022 they reported 5.34MM shares and 8.49% of the company, an increase in shares of 0.73% and an increase in total ownership of 0.50% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 5.80% Upside
As of February 8, 2023, the average one-year price target for Dick's Sporting Goods is $139.63. The forecasts range from a low of $113.12 to a high of $173.25. The average price target represents an increase of 5.80% from its latest reported closing price of $131.98.
The projected annual revenue for Dick's Sporting Goods is $12,300MM, an increase of 1.45%. The projected annual EPS is $12.04, a decrease of 19.23%.
What is the Fund Sentiment?
There are 1017 funds or institutions reporting positions in Dick's Sporting Goods. This is a decrease of 9 owner(s) or 0.88% in the last quarter. Average portfolio weight of all funds dedicated to DKS is 0.29%, an increase of 25.65%. Total shares owned by institutions decreased in the last three months by 5.71% to 66,790K shares. The put/call ratio of DKS is 3.21, indicating a bearish outlook.
What are large shareholders doing?
Lone Pine Capital holds 5,015K shares representing 6.01% ownership of the company. No change in the last quarter.
FCNTX - Fidelity Contrafund holds 2,307K shares representing 2.77% ownership of the company. In it's prior filing, the firm reported owning 2,123K shares, representing an increase of 7.94%. The firm increased its portfolio allocation in DKS by 61.23% over the last quarter.
Atreides Management holds 2,173K shares representing 2.61% ownership of the company. In it's prior filing, the firm reported owning 1,872K shares, representing an increase of 13.86%. The firm increased its portfolio allocation in DKS by 14.05% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,663K shares representing 1.99% ownership of the company. In it's prior filing, the firm reported owning 1,669K shares, representing a decrease of 0.37%. The firm increased its portfolio allocation in DKS by 39.01% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,575K shares representing 1.89% ownership of the company. In it's prior filing, the firm reported owning 1,590K shares, representing a decrease of 0.95%. The firm increased its portfolio allocation in DKS by 43.36% over the last quarter.
Dick's Sporting Goods Declares $0.49 Dividend
On November 22, 2022 the company declared a regular quarterly dividend of $0.49 per share ($1.95 annualized). Shareholders of record as of December 8, 2022 received the payment on December 30, 2022. Previously, the company paid $0.49 per share.
At the current share price of $131.98 / share, the stock's dividend yield is 1.48%. Looking back five years and taking a sample every week, the average dividend yield has been 2.38%, the lowest has been 1.23%, and the highest has been 7.34%. The standard deviation of yields is 0.83 (n=237).
The current dividend yield is 1.09 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.14. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.77%, demonstrating that it has increased its dividend over time.
Dicks Sporting Goods Background Information
(This description is provided by the company.)
Founded in 1948, DICK'S Sporting Goods, Inc. is a leading omni-channel sporting goods retailer offering an extensive assortment of authentic, high-quality sports equipment, apparel, footwear and accessories. As of January 30, 2021, the Company operated 728 DICK'S Sporting Goods locations across the United States, serving and inspiring athletes and outdoor enthusiasts to achieve their personal best through a blend of dedicated teammates, in-store services and unique specialty shop-in-shops dedicated to Team Sports, Athletic Apparel, Golf, Lodge/Outdoor, Fitness and Footwear. Headquartered in Pittsburgh, PA, DICK'S also owns and operates Golf Galaxy and Field & Stream specialty stores, as well as GameChanger, a youth sports mobile app for scheduling, communications and live scorekeeping. DICK'S offers its products through a dynamic eCommerce platform that is integrated with its store network and provides customers with the convenience and expertise of a 24-hour storefront.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
