Loop Capital Cuts DICK’S Sporting Goods (NYSE:DKS) Price Target to $195.00

DICK’S Sporting Goods (NYSE:DKS) had its price target cut by Loop Capital from $240.00 to $195.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a hold rating on the sporting goods retailer’s stock.

A number of other brokerages have also weighed in on DKS. Telsey Advisory Group reissued an “outperform” rating and set a $260.00 price target on shares of DICK’S Sporting Goods in a research note on Friday, March 7th. Wedbush reaffirmed a “neutral” rating and issued a $215.00 target price on shares of DICK’S Sporting Goods in a research report on Wednesday. UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and increased their target price for the stock from $225.00 to $260.00 in a research report on Wednesday, November 27th. TD Cowen increased their target price on DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley increased their price target 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. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $245.50.

DICK’S Sporting Goods Stock Performance

DKS opened at $194.74 on Thursday. The stock has a market cap of $15.87 billion, a P/E ratio of 13.92, a P/E/G ratio of 2.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The stock’s 50 day simple moving average is $228.59 and its 200 day simple moving average is $218.14. DICK’S Sporting Goods has a 1-year low of $182.84 and a 1-year high of $254.60.

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

DICK’S Sporting Goods announced that its board has initiated a stock repurchase plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the sporting goods retailer to reacquire up to 18.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $1.2125 dividend. This represents a $4.85 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s payout ratio is presently 31.45%.

Insider Activity at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the transaction, the executive vice president now owns 16,504 shares of the company’s stock, valued at $3,762,746.96. The trade was a 23.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of the business’s stock in a transaction 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 approximately $1,917,017,844. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 172,933 shares of company stock valued at $39,655,456. Insiders own 32.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wealthfront Advisers LLC acquired a new position in DICK’S Sporting Goods during the 4th quarter worth $1,893,210,000. State Street Corp lifted its position 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 worth $473,945,000 after acquiring an additional 27,155 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 worth $427,056,000 after acquiring an additional 77,357 shares during the last quarter. Geode Capital Management LLC lifted its position 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 acquired a new position in DICK’S Sporting Goods during 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.