In this article, we discuss 5 dividend challengers for 2022. To check out some more dividend stocks in this list, click 10 Dividend Challengers for 2022.
5. DICK’S Sporting Goods, Inc. (NYSE:DKS)
Number of Hedge Fund Holders: 37
Dividend Yield as of April 22: 1.96%
Number of Years of Consecutive Dividend Increases: 8
DICK’S Sporting Goods, Inc. (NYSE:DKS) is a Pennsylvania-based sporting equipment retailer that caters to customers in the eastern United States. The company was incorporated in 1948 and operates more than 700 storefronts across the country.
On March 16, DICK’S Sporting Goods, Inc. (NYSE:DKS) declared a $0.4875 per share quarterly dividend, an 11.4% increase from its prior dividend of $0.4375. The dividend was paid to shareholders on March 25, and the company delivers a dividend yield of 1.96% as of April 22.
Barclays analyst Adrienne Yih on April 1 maintained an Overweight rating on DICK’S Sporting Goods, Inc. (NYSE:DKS) but lowered the firm’s price target on the shares to $134 from $147. He downgraded the retail sector to Neutral, citing cost inflation, uncertain demand and supply, and heightened operational risk. However, on April 13, Cleveland Research announced that its checks reflect store sales at DICK’S Sporting Goods, Inc. (NYSE:DKS) appear on track to surpass consensus estimates in Q1-to-date, due to solid trends in February. Margins also look strong because of resilient full-price demand, less markdowns, and promotions in the current quarter.
In the fourth quarter of 2021, 37 hedge funds reported owning stakes in DICK’S Sporting Goods, Inc. (NYSE:DKS) according to Insider Monkey’s records, collectively worth approximately $1.3 billion. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital held one of the prominent positions in the company, with 1.6 million shares valued at $191 million.