DICK’S Sporting Goods’ (DKS) Neutral Rating Reiterated at Guggenheim

Guggenheim reiterated their neutral rating on shares of DICK’S Sporting Goods (NYSE:DKS) in a research note issued to investors on Wednesday morning,Benzinga reports.

A number of other research analysts have also weighed in on DKS. Loop Capital raised their target price on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Stifel Nicolaus lowered their target price on DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating on the stock in a research note on Wednesday. Truist Financial set a $245.00 target price on DICK’S Sporting Goods in a research note on Tuesday. TD Cowen lifted their price target on DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $260.00 price target on shares of DICK’S Sporting Goods in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $245.57.

DICK’S Sporting Goods Trading Up 4.4 %

Shares of DKS stock opened at $194.74 on Wednesday. The stock has a market cap of $15.87 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 2.47 and a beta of 1.53. The stock has a 50-day moving average of $228.59 and a 200-day moving average of $218.26. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. 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 released its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping the consensus estimate 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 business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the firm posted $3.85 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. On average, equities research analysts forecast that DICK’S Sporting Goods will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods Increases Dividend

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

DICK’S Sporting Goods declared that its board has approved a stock buyback program on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the sporting goods retailer to buy up to 18.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $227.99, for a total value of $1,139,950.00. Following the completion of the sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 dated 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 completion of the sale, the chairman now directly owns 8,362,128 shares of the company’s stock, valued at approximately $1,917,017,844. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,933 shares of company stock worth $39,655,456. Corporate insiders own 32.03% of the company’s stock.

Institutional Trading of DICK’S Sporting Goods

Institutional investors have recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new stake in DICK’S Sporting Goods in the fourth quarter worth about $27,000. New Wave Wealth Advisors LLC bought a new stake in shares of DICK’S Sporting Goods during the fourth quarter valued at approximately $28,000. Ancora Advisors LLC bought a new stake in shares of DICK’S Sporting Goods during the fourth quarter valued at approximately $28,000. Brooklyn Investment Group bought a new stake in shares of DICK’S Sporting Goods during the third quarter valued at approximately $27,000. Finally, Rialto Wealth Management LLC bought a new stake in shares of DICK’S Sporting Goods during the fourth quarter valued at approximately $30,000. Institutional investors own 89.83% of the company’s stock.

About DICK’S Sporting Goods

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.