DICK'S Sporting Goods (NYSE:DKS) Shares Down 15.4% - Should You Sell?

DICK'S Sporting Goods, Inc. (NYSE:DKS - Get Free Report)'s stock price dropped 15.4% during mid-day trading on Thursday . The stock traded as low as $178.85 and last traded at $178.70. Approximately 547,273 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 1,112,806 shares. The stock had previously closed at $211.32.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DKS shares. Truist Financial set a $245.00 price target on shares of DICK'S Sporting Goods in a research note on Tuesday, March 11th. Guggenheim reiterated a "neutral" rating on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Wedbush reissued a "neutral" rating and set a $215.00 price target on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Robert W. Baird dropped their price objective on DICK'S Sporting Goods from $235.00 to $230.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. Finally, Argus boosted their target price on DICK'S Sporting Goods from $255.00 to $280.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $245.50.

DICK'S Sporting Goods Stock Down 3.4 %

The firm's 50-day moving average is $217.64 and its 200 day moving average is $215.80. The stock has a market cap of $13.67 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 2.47 and a beta of 1.32. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.15. DICK'S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the company earned $3.85 EPS. The company's revenue was up .5% on a year-over-year basis. Sell-side analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $1.2125 per share. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, March 28th. DICK'S Sporting Goods's dividend payout ratio (DPR) is presently 34.54%.

DICK'S Sporting Goods declared that its board has authorized a share 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 reacquire up to 18.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at DICK'S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK'S Sporting Goods stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the sale, the executive vice president now directly owns 16,504 shares of the company's stock, valued at approximately $3,762,746.96. The trade was a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 32.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DICK'S Sporting Goods

A number of hedge funds have recently bought and sold shares of DKS. Park Square Financial Group LLC acquired a new stake in shares of DICK'S Sporting Goods during the fourth quarter worth approximately $27,000. New Wave Wealth Advisors LLC acquired a new position in DICK'S Sporting Goods during the 4th quarter worth $28,000. Ancora Advisors LLC bought a new stake in shares of DICK'S Sporting Goods in the 4th quarter worth about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of DICK'S Sporting Goods in the 4th quarter valued at about $30,000. Finally, Sound Income Strategies LLC raised its stake in shares of DICK'S Sporting Goods by 590.0% in the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer's stock valued at $32,000 after purchasing an additional 118 shares in the last quarter. Institutional investors and hedge funds 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.