DICK'S Sporting Goods (NYSE:DKS) Sets New 12-Month High - Here's Why

DICK'S Sporting Goods, Inc. (NYSE:DKS - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $241.71 and last traded at $240.29, with a volume of 85860 shares. The stock had previously closed at $236.46.

Analyst Upgrades and Downgrades

A number of research firms have commented on DKS. Morgan Stanley upped their price target on DICK'S Sporting Goods from $245.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday. TD Cowen raised their price target on DICK'S Sporting Goods from $270.00 to $294.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. UBS Group raised shares of DICK'S Sporting Goods from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $260.00 target price on shares of DICK'S Sporting Goods in a research report on Tuesday, November 26th. Finally, Truist Financial lifted their target price on shares of 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 analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, DICK'S Sporting Goods presently has an average rating of "Moderate Buy" and an average target price of $246.57.

DICK'S Sporting Goods Price Performance

The firm's fifty day simple moving average is $221.74 and its 200-day simple moving average is $214.79. The firm has a market capitalization of $20.37 billion, a PE ratio of 17.88, a PEG ratio of 2.69 and a beta of 1.58. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its quarterly earnings data on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, topping the consensus estimate of $2.68 by $0.07. The company had revenue of $3.06 billion during 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%. DICK'S Sporting Goods's revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the company earned $2.85 EPS. On average, research analysts forecast that DICK'S Sporting Goods, Inc. will post 13.88 earnings per share for the current fiscal year.

DICK'S Sporting Goods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Friday, December 13th. DICK'S Sporting Goods's dividend payout ratio is presently 31.45%.

Insider Activity

In other DICK'S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of the 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 completion of the sale, the director now owns 50,997 shares in the company, valued at approximately $11,808,355.35. This represents a 12.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the business'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 transaction, the executive vice president now owns 16,504 shares in the company, valued at $3,762,746.96. The trade was a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,933 shares of company stock valued at $39,655,456 in the last 90 days. Company insiders own 32.03% of the company's stock.

Institutional Trading of DICK'S Sporting Goods

Several institutional investors and hedge funds have recently added to or reduced their stakes in DKS. Greenleaf Trust lifted its position in shares of DICK'S Sporting Goods by 3.0% in the fourth quarter. Greenleaf Trust now owns 1,721 shares of the sporting goods retailer's stock worth $394,000 after buying an additional 50 shares in the last quarter. ORG Partners LLC increased its stake in DICK'S Sporting Goods by 37.0% in the 3rd quarter. ORG Partners LLC now owns 200 shares of the sporting goods retailer's stock worth $42,000 after acquiring an additional 54 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of DICK'S Sporting Goods by 1.7% during the 3rd quarter. CIBC Asset Management Inc now owns 3,232 shares of the sporting goods retailer's stock worth $675,000 after acquiring an additional 54 shares in the last quarter. Stonegate Investment Group LLC boosted its position in shares of DICK'S Sporting Goods by 2.9% during the 4th quarter. Stonegate Investment Group LLC now owns 2,066 shares of the sporting goods retailer's stock valued at $473,000 after acquiring an additional 58 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its holdings in shares of DICK'S Sporting Goods by 3.5% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 2,055 shares of the sporting goods retailer's stock valued at $470,000 after purchasing an additional 70 shares in the last quarter. 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.