DICK’S Sporting Goods, Inc. (NYSE:DKS) Plans Dividend Increase – $1.21 Per Share

DICK’S Sporting Goods, Inc. (NYSE:DKS) announced a quarterly dividend on Tuesday, March 11th, RTT News reports. Shareholders of record on Friday, March 28th will be paid a dividend of 1.2125 per share by the sporting goods retailer on Friday, April 11th. This represents a $4.85 annualized dividend and a yield of 2.48%. This is a 10.2% increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10.

DICK’S Sporting Goods has increased its dividend payment by an average of 40.1% per year over the last three years. DICK’S Sporting Goods has a dividend payout ratio of 27.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect DICK’S Sporting Goods to earn $14.79 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 29.7%.

DICK’S Sporting Goods Stock Down 1.6 %

Shares of DKS stock traded down $3.12 during trading hours on Wednesday, hitting $195.85. 386,068 shares of the company were exchanged, compared to its average volume of 1,160,790. DICK’S Sporting Goods has a 52 week low of $182.25 and a 52 week high of $254.60. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average of $230.77 and a two-hundred day moving average of $218.94. The company has a market capitalization of $15.96 billion, a PE ratio of 14.00, a PEG ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last released 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. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.85 EPS. Analysts anticipate that DICK’S Sporting Goods will post 13.89 earnings per share for the current fiscal year.

Insider Buying and Selling

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 transaction of $1,697,956.15. Following the transaction, the director now owns 50,997 shares in the company, valued at $11,808,355.35. This trade represents a 12.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the business’s stock in a transaction dated 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 approximately $1,917,017,844. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,933 shares of company stock valued at $39,655,456. Insiders own 32.03% of the company’s stock.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on DKS. Guggenheim reaffirmed a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday. Loop Capital lifted their price target on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. UBS Group raised shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $225.00 to $260.00 in a research report on Wednesday, November 27th. Telsey Advisory Group restated an “outperform” rating and issued a $260.00 price objective on shares of DICK’S Sporting Goods in a report on Friday, March 7th. Finally, Argus raised their price target on DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $247.00.

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.