DICK’S Sporting Goods (NYSE:DKS) Given New $255.00 Price Target at Morgan Stanley

DICK’S Sporting Goods (NYSE:DKS) had its price target lifted by Morgan Stanley from $245.00 to $255.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the sporting goods retailer’s stock.

Other analysts also recently issued research reports about the company. UBS Group raised 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 report 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 research note on Wednesday, November 27th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $260.00 target price on shares of DICK’S Sporting Goods in a research note on Tuesday, November 26th. Loop Capital lifted their target price on 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, Truist Financial lifted their target price on DICK’S Sporting Goods from $256.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $246.57.

DICK’S Sporting Goods Price Performance

Shares of DKS opened at $234.03 on Tuesday. The firm has a market cap of $19.07 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 2.60 and a beta of 1.58. DICK’S Sporting Goods has a 52 week low of $146.86 and a 52 week high of $239.30. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $218.96 and a 200-day moving average of $214.06.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.07. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate 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 was up .5% on a year-over-year basis. During the same quarter last year, the business posted $2.85 EPS. As a group, analysts forecast that DICK’S Sporting Goods will post 13.88 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, December 13th. DICK’S Sporting Goods’s payout ratio is 31.45%.

Insider Buying and Selling

In other news, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the transaction, the director now owns 50,997 shares in the company, valued at approximately $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of DICK’S Sporting Goods stock in a transaction on Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the transaction, the chairman now owns 8,362,128 shares in the company, valued at $1,917,017,844. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 32.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DKS. Mercer Global Advisors Inc. ADV grew its holdings in shares of DICK’S Sporting Goods by 57.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 9,126 shares of the sporting goods retailer’s stock valued at $1,961,000 after buying an additional 3,322 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in DICK’S Sporting Goods by 13.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,464 shares of the sporting goods retailer’s stock valued at $315,000 after purchasing an additional 168 shares during the last quarter. Sei Investments Co. boosted its position in DICK’S Sporting Goods by 71.8% during the second quarter. Sei Investments Co. now owns 45,917 shares of the sporting goods retailer’s stock valued at $9,864,000 after purchasing an additional 19,191 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in DICK’S Sporting Goods by 21.1% during the second quarter. Thrivent Financial for Lutherans now owns 17,657 shares of the sporting goods retailer’s stock valued at $3,794,000 after purchasing an additional 3,079 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in DICK’S Sporting Goods during the second quarter valued at $214,000. Hedge funds and other institutional investors 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.