DICK’S Sporting Goods, Inc. (NYSE:DKS) Receives $245.50 Average Target Price from Analysts

DICK’S Sporting Goods, Inc. (NYSE:DKS) has been given an average recommendation of “Moderate Buy” by the twenty-one ratings firms that are presently covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $245.50.

A number of equities research analysts have weighed in on DKS shares. Morgan Stanley raised their target price on DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Wedbush reaffirmed a “neutral” rating and issued a $215.00 price objective on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Truist Financial set a $245.00 target price on DICK’S Sporting Goods in a research note on Tuesday, March 11th. Robert W. Baird decreased their price target on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Finally, TD Cowen increased their price objective on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th.

DICK’S Sporting Goods Trading Up 2.5 %

DKS opened at $206.50 on Friday. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. DICK’S Sporting Goods has a twelve month low of $182.84 and a twelve month high of $254.60. The stock has a market capitalization of $16.82 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 2.47 and a beta of 1.53. The company has a 50-day simple moving average of $222.12 and a 200 day simple moving average of $216.49.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.15. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.85 EPS. Analysts predict that DICK’S Sporting Goods will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods announced that its Board of Directors has approved a share repurchase plan on Tuesday, March 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.35%. 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. DICK’S Sporting Goods’s dividend payout ratio is 34.54%.

Insider Buying and Selling

In other news, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the completion of the transaction, the director now directly owns 50,997 shares in the company, valued at $11,808,355.35. This trade represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’s stock in a transaction dated 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 $3,762,746.96. This represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,933 shares of company stock valued at $39,655,456. 32.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On DICK’S Sporting Goods

Hedge funds have recently added to or reduced their stakes in the stock. Wealthfront Advisers LLC bought a new position in shares of DICK’S Sporting Goods in the fourth quarter valued at approximately $1,893,210,000. State Street Corp lifted its stake in DICK’S Sporting Goods by 1.2% during the 3rd quarter. State Street Corp now owns 2,259,133 shares of the sporting goods retailer’s stock valued at $473,945,000 after acquiring an additional 27,155 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in DICK’S Sporting Goods by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,866,177 shares of the sporting goods retailer’s stock valued at $427,056,000 after acquiring an additional 77,357 shares in the last quarter. Geode Capital Management LLC boosted its holdings in DICK’S Sporting Goods by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,057,793 shares of the sporting goods retailer’s stock worth $241,660,000 after acquiring an additional 15,011 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of DICK’S Sporting Goods in the 4th quarter worth $221,693,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

DICK’S Sporting Goods Company Profile

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.