DICK'S Sporting Goods, Inc. (NYSE:DKS) Receives $245.50 Consensus Target Price from Analysts

Shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twenty-one brokerages that are currently covering the firm, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $245.50.

A number of equities analysts have issued reports on DKS shares. Citigroup reaffirmed a "neutral" rating and issued a $220.00 price objective (down from $230.00) on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Loop Capital reduced their price target on DICK'S Sporting Goods from $240.00 to $195.00 and set a "hold" rating on the stock in a research report on Thursday, March 13th. Stifel Nicolaus dropped their price objective on DICK'S Sporting Goods from $240.00 to $226.00 and set a "hold" rating for the company in a report on Wednesday, March 12th. Truist Financial set a $245.00 target price on DICK'S Sporting Goods in a research note on Tuesday, March 11th. Finally, TD Cowen boosted 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.

DICK'S Sporting Goods Price Performance

Shares of NYSE DKS traded up $5.12 during trading on Friday, reaching $211.53. The company had a trading volume of 960,011 shares, compared to its average volume of 1,113,951. DICK'S Sporting Goods has a 52 week low of $182.84 and a 52 week high of $254.60. The business's 50 day moving average price is $221.61 and its 200-day moving average price is $216.45. The stock has a market cap of $17.23 billion, a PE ratio of 15.12, a PEG ratio of 2.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72.

Remove Ads

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.15. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.76 billion. DICK'S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. DICK'S Sporting Goods's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $3.85 earnings per share. Analysts expect that DICK'S Sporting Goods will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, March 28th. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.10. DICK'S Sporting Goods's dividend payout ratio (DPR) is 34.54%.

DICK'S Sporting Goods declared that its Board of Directors has authorized a share repurchase program on Tuesday, March 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the sporting goods retailer to reacquire up to 18.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other DICK'S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of the company's 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 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 position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 value of $1,697,956.15. Following the sale, the director now directly owns 50,997 shares of the company's stock, valued at $11,808,355.35. This represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,933 shares of company stock valued at $39,655,456. 32.03% of the stock is owned by insiders.

Hedge Funds Weigh In On DICK'S Sporting Goods

Several institutional investors and hedge funds have recently modified their holdings of DKS. Wealthfront Advisers LLC acquired a new position in shares of DICK'S Sporting Goods during the 4th quarter worth approximately $1,893,210,000. State Street Corp increased its stake 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 period. Charles Schwab Investment Management Inc. raised its holdings in DICK'S Sporting Goods by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,866,177 shares of the sporting goods retailer's stock valued at $427,056,000 after acquiring an additional 77,357 shares in the last quarter. Geode Capital Management LLC raised its holdings in DICK'S Sporting Goods by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,057,793 shares of the sporting goods retailer's stock valued at $241,660,000 after acquiring an additional 15,011 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of DICK'S Sporting Goods during the 4th quarter valued at $221,693,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

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.