Loop Capital Raises DICK’S Sporting Goods (NYSE:DKS) Price Target to $220.00

DICK’S Sporting Goods (NYSE:DKS) had its target price raised by Loop Capital from $200.00 to $220.00 in a report released on Thursday, Benzinga reports. They currently have a hold rating on the sporting goods retailer’s stock.

A number of other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on DICK’S Sporting Goods from $197.00 to $211.00 and gave the stock a neutral rating in a report on Thursday, May 30th. Wedbush reaffirmed a neutral rating and issued a $250.00 price objective on shares of DICK’S Sporting Goods in a research report on Thursday. Truist Financial lifted their price objective on DICK’S Sporting Goods from $243.00 to $256.00 and gave the company a buy rating in a research report on Thursday, May 30th. Oppenheimer lifted their price objective on DICK’S Sporting Goods from $240.00 to $270.00 and gave the company an outperform rating in a research report on Thursday, May 30th. Finally, Robert W. Baird reaffirmed a neutral rating and issued a $235.00 price objective on shares of DICK’S Sporting Goods in a research report on Wednesday, August 28th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, DICK’S Sporting Goods presently has a consensus rating of Moderate Buy and a consensus target price of $244.43.

DICK’S Sporting Goods Stock Performance

NYSE DKS opened at $208.04 on Thursday. DICK’S Sporting Goods has a fifty-two week low of $100.98 and a fifty-two week high of $239.30. The stock has a market cap of $16.95 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 2.59 and a beta of 1.64. The business has a fifty day moving average of $214.27 and a 200-day moving average of $207.99. The company has a quick ratio of 0.65, a current ratio of 1.71 and a debt-to-equity ratio of 0.55.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.60. DICK’S Sporting Goods had a return on equity of 41.80% and a net margin of 7.73%. The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same period in the previous year, the firm posted $2.82 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts predict that DICK’S Sporting Goods will post 13.8 earnings per share for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, September 19th. DICK’S Sporting Goods’s dividend payout ratio is presently 36.42%.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, Director Desiree Ralls-Morrison sold 3,489 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $206.65, for a total transaction of $721,001.85. Following the transaction, the director now owns 5,609 shares in the company, valued at $1,159,099.85. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 32.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DKS. Van ECK Associates Corp lifted its stake in shares of DICK’S Sporting Goods by 2.7% in the fourth quarter. Van ECK Associates Corp now owns 8,818 shares of the sporting goods retailer’s stock worth $1,296,000 after acquiring an additional 232 shares in the last quarter. Natixis Advisors L.P. lifted its stake in shares of DICK’S Sporting Goods by 156.1% in the fourth quarter. Natixis Advisors L.P. now owns 52,572 shares of the sporting goods retailer’s stock worth $7,725,000 after acquiring an additional 32,043 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of DICK’S Sporting Goods in the fourth quarter worth about $450,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of DICK’S Sporting Goods in the fourth quarter worth about $199,000. Finally, National Bank of Canada FI lifted its stake in shares of DICK’S Sporting Goods by 1,313.0% in the fourth quarter. National Bank of Canada FI now owns 13,989 shares of the sporting goods retailer’s stock worth $2,042,000 after acquiring an additional 12,999 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, 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.