Loop Capital Has Lowered Expectations for DICK'S Sporting Goods (NYSE:DKS) Stock Price

DICK'S Sporting Goods (NYSE:DKS - Free Report) had its price objective trimmed by Loop Capital from $240.00 to $195.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a hold rating on the sporting goods retailer's stock.

Other equities research analysts have also recently issued reports about the stock. TD Cowen increased their price objective on shares of DICK'S Sporting Goods from $270.00 to $294.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Truist Financial set a $245.00 price objective on shares of DICK'S Sporting Goods in a research note on Tuesday, March 11th. Wedbush reissued a "neutral" rating and issued a $215.00 price objective on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Citigroup reissued 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. Finally, Guggenheim reissued a "neutral" rating on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, DICK'S Sporting Goods has a consensus rating of "Moderate Buy" and a consensus target price of $245.50.

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DICK'S Sporting Goods Price Performance

Shares of NYSE:DKS traded up $0.88 on Thursday, reaching $195.38. 478,472 shares of the company were exchanged, compared to its average volume of 1,215,830. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. DICK'S Sporting Goods has a 1-year low of $182.84 and a 1-year high of $254.60. The firm has a market cap of $15.92 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. The company has a 50-day moving average of $228.59 and a 200-day moving average of $218.02.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last posted its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share 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 business had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $3.76 billion. During the same period in the prior year, the company posted $3.85 EPS. The business's revenue for the quarter was up .5% on a year-over-year basis. Equities analysts forecast that DICK'S Sporting Goods will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods declared that its board has approved a stock buyback plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the sporting goods retailer to buy up to 18.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

DICK'S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $1.2125 dividend. This is a positive change from DICK'S Sporting Goods's previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 28th. This represents a $4.85 annualized dividend and a yield of 2.48%. DICK'S Sporting Goods's dividend payout ratio (DPR) is presently 34.54%.

Insider Activity at DICK'S Sporting Goods

In other DICK'S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 16,504 shares of the company's stock, valued at $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction 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 $1,917,017,844. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,933 shares of company stock worth $39,655,456. Company insiders own 32.03% of the company's stock.

Institutional Trading of DICK'S Sporting Goods

A number of hedge funds have recently made changes to their positions in DKS. Brooklyn Investment Group acquired a new stake in shares of DICK'S Sporting Goods during the third quarter worth approximately $27,000. 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 stake in shares of DICK'S Sporting Goods during the fourth quarter worth approximately $28,000. Ancora Advisors LLC acquired a new stake in shares of DICK'S Sporting Goods during the fourth quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of DICK'S Sporting Goods during the fourth quarter worth approximately $30,000. 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.