DICK’S Sporting Goods (NYSE:DKS) Price Target Raised to $294.00

DICK’S Sporting Goods (NYSE:DKS) had its price objective increased by TD Cowen from $270.00 to $294.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the sporting goods retailer’s stock.

Several other equities research analysts have also commented on DKS. Telsey Advisory Group restated an “outperform” rating and issued a $260.00 price target on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. Truist Financial boosted their price objective on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Loop Capital increased their target price on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $225.00 to $260.00 in a research report on Wednesday, November 27th. Finally, Wedbush reaffirmed a “neutral” rating and set a $215.00 price objective (down previously from $250.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.10.

DICK’S Sporting Goods Stock Down 1.4 %

Shares of NYSE DKS opened at $230.32 on Wednesday. DICK’S Sporting Goods has a 52-week low of $137.44 and a 52-week high of $239.30. The firm has a market capitalization of $18.77 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 2.52 and a beta of 1.58. The stock has a 50 day moving average price of $214.24 and a 200 day moving average price of $213.17. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72.

DICK’S Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.07. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.03 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.85 EPS. Sell-side analysts expect that DICK’S Sporting Goods will post 13.88 earnings per share for the current year.

DICK’S Sporting Goods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, December 13th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 31.45%.

Insider Buying and Selling

In related news, Director Lawrence J. Schorr sold 7,333 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total value of $1,697,956.15. Following the sale, the director now owns 50,997 shares in the company, valued at $11,808,355.35. This 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 at this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the transaction, the chairman now directly owns 8,362,128 shares of the company’s stock, valued at $1,917,017,844. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 32.03% of the stock is currently owned by company insiders.

Institutional Trading of DICK’S Sporting Goods

Several large investors have recently made changes to their positions in DKS. Kerusso Capital Management LLC acquired a new stake in shares of DICK’S Sporting Goods during the 3rd quarter worth approximately $1,554,000. National Pension Service purchased a new stake in DICK’S Sporting Goods during the third quarter worth $4,195,000. Strategy Asset Managers LLC acquired a new stake in DICK’S Sporting Goods during the third quarter valued at $4,325,000. Landscape Capital Management L.L.C. increased its holdings in DICK’S Sporting Goods by 402.9% in the third quarter. Landscape Capital Management L.L.C. now owns 15,344 shares of the sporting goods retailer’s stock valued at $3,202,000 after buying an additional 12,293 shares in the last quarter. Finally, Bridgewater Associates LP raised its position in shares of DICK’S Sporting Goods by 245.7% in the third quarter. Bridgewater Associates LP now owns 6,002 shares of the sporting goods retailer’s stock worth $1,253,000 after acquiring an additional 4,266 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

About DICK’S Sporting Goods

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.