Stifel Nicolaus Cuts DICK’S Sporting Goods (NYSE:DKS) Price Target to $226.00

DICK’S Sporting Goods (NYSE:DKS) had its price target cut by Stifel Nicolaus from $240.00 to $226.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a hold rating on the sporting goods retailer’s stock.

DKS has been the subject of a number of other reports. Wedbush restated a “neutral” rating and issued a $215.00 price target on shares of DICK’S Sporting Goods in a research note on Thursday, March 6th. TD Cowen lifted their price objective on DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Truist Financial boosted their price target on DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Telsey Advisory Group restated an “outperform” rating and set a $260.00 price objective on shares of DICK’S Sporting Goods in a research report on Friday, March 7th. Finally, UBS Group upgraded DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and upped their price target for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $245.57.

DICK’S Sporting Goods Trading Up 4.4 %

NYSE DKS opened at $194.74 on Wednesday. The stock has a 50-day simple moving average of $228.59 and a 200 day simple moving average of $218.26. The company has a market capitalization of $15.87 billion, a PE ratio of 13.92, a P/E/G ratio of 2.47 and a beta of 1.53. 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 $182.84 and a 12 month high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.15. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the prior year, the company earned $3.85 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Research analysts forecast that DICK’S Sporting Goods will post 13.89 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, March 28th. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a dividend yield of 2.49%. DICK’S Sporting Goods’s dividend payout ratio is 31.45%.

DICK’S Sporting Goods declared that its board has initiated a stock repurchase plan on Tuesday, March 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, Director Lawrence J. Schorr sold 7,333 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now directly owns 50,997 shares of the company’s stock, valued at $11,808,355.35. This trade represents a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of the firm’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 $1,917,017,844. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,933 shares of company stock valued at $39,655,456 over the last three months. Corporate insiders own 32.03% of the company’s stock.

Institutional Investors Weigh In On DICK’S Sporting Goods

Institutional investors and hedge funds have recently made changes to their positions in the business. Wealthfront Advisers LLC purchased a new position in shares of DICK’S Sporting Goods in the fourth quarter worth about $1,893,210,000. State Street Corp lifted its holdings in shares of DICK’S Sporting Goods by 1.2% during the third quarter. State Street Corp now owns 2,259,133 shares of the sporting goods retailer’s stock valued at $473,945,000 after purchasing an additional 27,155 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of DICK’S Sporting Goods by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,866,177 shares of the sporting goods retailer’s stock valued at $427,056,000 after purchasing an additional 77,357 shares during the last quarter. Geode Capital Management LLC raised its holdings in DICK’S Sporting Goods by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,057,793 shares of the sporting goods retailer’s stock worth $241,660,000 after acquiring an additional 15,011 shares during the last quarter. Finally, Norges Bank purchased a new position in DICK’S Sporting Goods in the 4th quarter worth approximately $221,693,000. Hedge funds and other 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.