Argus Issues Positive Forecast for DICK’S Sporting Goods (NYSE:DKS) Stock Price

DICK’S Sporting Goods (NYSE:DKS) had its price objective hoisted by Argus from $255.00 to $280.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the sporting goods retailer’s stock.

DKS has been the subject of a number of other research reports. Morgan Stanley increased their price target on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Telsey Advisory Group reiterated an “outperform” rating and issued a $260.00 target price on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. UBS Group upgraded DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and increased their price target for the company from $225.00 to $260.00 in a report on Wednesday, November 27th. Truist Financial lifted their price objective on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Wedbush reissued a “neutral” rating and issued a $215.00 target price (down previously from $250.00) on shares of DICK’S Sporting Goods in a research note on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, DICK’S Sporting Goods has an average rating of “Moderate Buy” and a consensus price target of $248.09.

DICK’S Sporting Goods Price Performance

Shares of DICK’S Sporting Goods stock opened at $240.11 on Wednesday. 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 12 month low of $148.95 and a 12 month high of $254.60. The stock has a 50 day moving average of $226.27 and a 200 day moving average of $216.06. The firm has a market cap of $19.56 billion, a PE ratio of 17.16, a PEG ratio of 2.79 and a beta of 1.58.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.07. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.03 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. DICK’S Sporting Goods’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm posted $2.85 earnings per share. On average, research analysts expect that DICK’S Sporting Goods will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a dividend of $1.10 per share. The ex-dividend date was Friday, December 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.83%. DICK’S Sporting Goods’s dividend payout ratio is presently 31.45%.

Insider Buying and Selling

In other news, Chairman Edward W. Stack sold 160,600 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $229.25, for a total value of $36,817,550.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lawrence J. Schorr sold 7,333 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total value of $1,697,956.15. Following the sale, the director now directly owns 50,997 shares in the company, valued at approximately $11,808,355.35. The trade was a 12.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 172,933 shares of company stock valued at $39,655,456 over the last 90 days. Corporate insiders own 32.03% of the company’s stock.

Hedge Funds Weigh In On DICK’S Sporting Goods

A number of large investors have recently made changes to their positions in DKS. Brooklyn Investment Group purchased a new position in DICK’S Sporting Goods during the 3rd quarter worth $27,000. New Wave Wealth Advisors LLC acquired a new stake in DICK’S Sporting Goods in the fourth quarter worth about $28,000. ORG Wealth Partners LLC purchased a new stake in shares of DICK’S Sporting Goods during the third quarter worth about $30,000. True Wealth Design LLC increased its holdings in shares of DICK’S Sporting Goods by 2,900.0% during the third quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock valued at $31,000 after acquiring an additional 145 shares in the last quarter. Finally, Sound Income Strategies LLC raised its position 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 during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

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.