DICK’S Sporting Goods, Inc. (NYSE:DKS) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

DICK’S Sporting Goods, Inc. (NYSE:DKS) has earned a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are covering the company, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $248.09.

Several brokerages have recently issued reports on DKS. Loop Capital boosted their price objective 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. Telsey Advisory Group restated an “outperform” rating and set a $260.00 target price on shares of DICK’S Sporting Goods in a report on Friday, March 7th. Wedbush restated a “neutral” rating and set a $215.00 target price on shares of DICK’S Sporting Goods in a report on Thursday, March 6th. Argus lifted their target price on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and lifted their target price for the company from $225.00 to $260.00 in a report on Wednesday, November 27th.

Insider Activity

In other news, Director Lawrence J. Schorr sold 7,333 shares of the company’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 owns 50,997 shares in the company, valued at approximately $11,808,355.35. This represents a 12.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the sale, the executive vice president now owns 16,504 shares in the company, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DICK’S Sporting Goods

A number of institutional investors have recently modified their holdings of the stock. First Trust Direct Indexing L.P. grew its position in shares of DICK’S Sporting Goods by 20.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,229 shares of the sporting goods retailer’s stock valued at $256,000 after buying an additional 205 shares during the last quarter. US Bancorp DE grew its position in shares of DICK’S Sporting Goods by 3.4% during the 3rd quarter. US Bancorp DE now owns 4,879 shares of the sporting goods retailer’s stock valued at $1,018,000 after buying an additional 162 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of DICK’S Sporting Goods by 7.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 16,977 shares of the sporting goods retailer’s stock valued at $3,543,000 after buying an additional 1,230 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of DICK’S Sporting Goods by 122.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,860 shares of the sporting goods retailer’s stock valued at $1,849,000 after buying an additional 4,869 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of DICK’S Sporting Goods by 10.2% during the 3rd quarter. Van ECK Associates Corp now owns 11,928 shares of the sporting goods retailer’s stock valued at $2,454,000 after buying an additional 1,105 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

DICK’S Sporting Goods Stock Down 5.6 %

Shares of NYSE DKS opened at $199.20 on Wednesday. DICK’S Sporting Goods has a 52-week low of $180.80 and a 52-week high of $254.60. The firm has a fifty day moving average of $230.77 and a 200-day moving average of $218.94. The stock has a market capitalization of $16.23 billion, a PE ratio of 14.24, a P/E/G ratio of 2.47 and a beta of 1.53. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the previous year, the company earned $3.85 EPS. The business’s quarterly revenue was up .5% compared to the same quarter last year. On average, analysts anticipate that DICK’S Sporting Goods will post 13.89 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.43%. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio is 31.45%.

DICK’S Sporting Goods announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the sporting goods retailer to reacquire up to 18.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

DICK’S Sporting Goods Company Profile

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.