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

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

A number of other analysts have also issued reports on DKS. Truist Financial lifted their price target on 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. Wedbush reaffirmed a “neutral” rating and set a $215.00 target price (down previously from $250.00) on shares of DICK’S Sporting Goods in a report on Wednesday, November 27th. UBS Group raised shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their price target for the stock from $225.00 to $260.00 in a research note on Wednesday, November 27th. Loop Capital upped their price objective on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $260.00 price objective on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $246.10.

DICK’S Sporting Goods Price Performance

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

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly 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. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the prior year, the firm earned $2.85 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. As a group, research analysts predict that DICK’S Sporting Goods will post 13.88 EPS for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a 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 Activity

In other news, Chairman Edward W. Stack sold 160,600 shares of DICK’S Sporting Goods stock in a transaction on Monday, January 6th. The stock was sold at an average price of $229.25, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence J. Schorr sold 7,333 shares of the stock in a transaction dated 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 transaction, the director now directly owns 50,997 shares in the company, valued at approximately $11,808,355.35. The trade was a 12.57 % decrease in their position. The disclosure for this sale can be found here. Insiders own 32.03% of the company’s stock.

Institutional Trading of DICK’S Sporting Goods

A number of institutional investors and hedge funds have recently bought and sold shares of DKS. Hilltop National Bank grew its holdings in shares of DICK’S Sporting Goods by 29.3% in the fourth quarter. Hilltop National Bank now owns 5,709 shares of the sporting goods retailer’s stock valued at $1,306,000 after purchasing an additional 1,295 shares in the last quarter. Range Financial Group LLC acquired a new position in shares of DICK’S Sporting Goods in the fourth quarter worth $1,997,000. Bath Savings Trust Co increased its position in shares of DICK’S Sporting Goods by 95.3% during the fourth quarter. Bath Savings Trust Co now owns 9,202 shares of the sporting goods retailer’s stock worth $2,106,000 after acquiring an additional 4,491 shares during the period. Pensionfund Sabic acquired a new stake in shares of DICK’S Sporting Goods in the fourth quarter valued at $1,510,000. Finally, Everence Capital Management Inc. purchased a new position in DICK’S Sporting Goods in the fourth quarter valued at $350,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

DICK’S Sporting Goods Company Profile

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.