DICK’S Sporting Goods (NYSE:DKS) Price Target Raised to $255.00

DICK’S Sporting Goods (NYSE:DKS) had its target price upped by Morgan Stanley from $245.00 to $255.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the sporting goods retailer’s stock.

Several other research firms have also weighed in on DKS. Loop Capital lifted their target price on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their price target for the stock from $225.00 to $260.00 in a research report on Wednesday, November 27th. Wedbush reiterated a “neutral” rating and issued a $215.00 price objective (down from $250.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, November 27th. Truist Financial raised their target price on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, TD Cowen lifted their price target on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $246.57.

DICK’S Sporting Goods Price Performance

DICK’S Sporting Goods stock opened at $246.46 on Tuesday. The firm has a market capitalization of $20.08 billion, a P/E ratio of 17.62, a PEG ratio of 2.67 and a beta of 1.58. The business has a 50-day moving average of $220.70 and a 200-day moving average of $214.45. 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 1 year low of $148.92 and a 1 year high of $246.74.

DICK’S Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, beating the consensus estimate of $2.68 by $0.07. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.03 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.85 earnings per share. On average, equities analysts anticipate that DICK’S Sporting Goods will post 13.88 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Friday, December 13th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 31.45%.

Insider Activity

In other news, Chairman Edward W. Stack sold 160,600 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the sale, the chairman now directly owns 8,362,128 shares of the company’s stock, valued at approximately $1,917,017,844. This represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total value of $1,697,956.15. Following the transaction, the director now owns 50,997 shares of the company’s stock, valued at $11,808,355.35. The trade was a 12.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 172,933 shares of company stock valued at $39,655,456. 32.03% of the stock is owned by insiders.

Institutional Investors Weigh In On DICK’S Sporting Goods

A number of large investors have recently added to or reduced their stakes in DKS. Holocene Advisors LP bought a new position in DICK’S Sporting Goods during the third quarter worth $70,562,000. KBC Group NV raised its holdings in DICK’S Sporting Goods by 887.3% in the 3rd quarter. KBC Group NV now owns 250,374 shares of the sporting goods retailer’s stock valued at $52,253,000 after acquiring an additional 225,015 shares during the period. International Assets Investment Management LLC lifted its position in DICK’S Sporting Goods by 19,851.3% during the third quarter. International Assets Investment Management LLC now owns 208,491 shares of the sporting goods retailer’s stock worth $43,512,000 after acquiring an additional 207,446 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of DICK’S Sporting Goods by 1,718.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 200,000 shares of the sporting goods retailer’s stock worth $41,740,000 after acquiring an additional 189,000 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of DICK’S Sporting Goods by 40.2% in the second quarter. AQR Capital Management LLC now owns 545,045 shares of the sporting goods retailer’s stock valued at $117,103,000 after purchasing an additional 156,227 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

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.