DICK’S Sporting Goods (NYSE:DKS) Reaches New 52-Week High at $236.62

DICK’S Sporting Goods, Inc. (NYSE:DKS) shares hit a new 52-week high on Thursday . The company traded as high as $236.62 and last traded at $235.77, with a volume of 156589 shares traded. The stock had previously closed at $235.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DKS shares. Robert W. Baird lifted their price target on shares of DICK’S Sporting Goods from $225.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Barclays boosted their price objective on DICK’S Sporting Goods from $231.00 to $247.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Morgan Stanley lifted their price objective on DICK’S Sporting Goods from $235.00 to $245.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Wedbush reiterated a “neutral” rating and issued a $230.00 target price on shares of DICK’S Sporting Goods in a research note on Wednesday, June 5th. Finally, Evercore ISI boosted their target price on shares of DICK’S Sporting Goods from $240.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $236.05.

DICK’S Sporting Goods Stock Performance

The company has a current ratio of 1.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.55. The firm has a market cap of $19.23 billion, a PE ratio of 19.50, a P/E/G ratio of 2.26 and a beta of 1.65. The stock’s 50 day moving average price is $212.54 and its 200 day moving average price is $202.18.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Wednesday, May 29th. The sporting goods retailer reported $3.30 EPS for the quarter, beating the consensus estimate of $2.94 by $0.36. DICK’S Sporting Goods had a return on equity of 41.80% and a net margin of 7.73%. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the company posted $3.40 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts forecast that DICK’S Sporting Goods, Inc. will post 13.76 earnings per share for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $1.10 per share. The ex-dividend date was Friday, June 14th. This represents a $4.40 dividend on an annualized basis and a yield of 1.86%. DICK’S Sporting Goods’s payout ratio is currently 36.42%.

Insider Buying and Selling

In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 4,910 shares of DICK’S Sporting Goods stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $222.02, for a total value of $1,090,118.20. Following the transaction, the executive vice president now owns 16,504 shares in the company, valued at $3,664,218.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Julie Lodge-Jarrett sold 4,910 shares of DICK’S Sporting Goods stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $222.02, for a total transaction of $1,090,118.20. Following the completion of the sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at $3,664,218.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Desiree Ralls-Morrison sold 3,489 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $206.65, for a total value of $721,001.85. Following the completion of the transaction, the director now directly owns 5,609 shares in the company, valued at $1,159,099.85. The disclosure for this sale can be found here. Insiders have sold a total of 8,400 shares of company stock valued at $1,811,336 over the last three months. Company insiders own 32.03% of the company’s stock.

Institutional Investors Weigh In On DICK’S Sporting Goods

A number of hedge funds have recently added to or reduced their stakes in DKS. V Square Quantitative Management LLC acquired a new position in DICK’S Sporting Goods in the first quarter valued at about $25,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in DICK’S Sporting Goods by 280.0% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 190 shares of the sporting goods retailer’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in DICK’S Sporting Goods during the 2nd quarter worth approximately $28,000. Covestor Ltd lifted its stake in DICK’S Sporting Goods by 70.5% in the first quarter. Covestor Ltd now owns 133 shares of the sporting goods retailer’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. Finally, ORG Partners LLC acquired a new position in shares of DICK’S Sporting Goods in the second quarter valued at approximately $30,000. Institutional investors own 89.83% of the company’s stock.

About DICK’S Sporting Goods

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.