DICK’S Sporting Goods (NYSE:DKS) Price Target Increased to $250.00 by Analysts at Bank of America

DICK’S Sporting Goods (NYSE:DKS) had its price target hoisted by Bank of America from $240.00 to $250.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the sporting goods retailer’s stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company cut their price objective on shares of DICK’S Sporting Goods from $230.00 to $227.00 and set an equal weight rating for the company in a report on Monday, August 12th. Truist Financial increased their price objective on shares of DICK’S Sporting Goods from $243.00 to $256.00 and gave the company a buy rating in a report on Thursday, May 30th. DA Davidson reaffirmed a buy rating and set a $265.00 price objective on shares of DICK’S Sporting Goods in a report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of DICK’S Sporting Goods from $197.00 to $211.00 and gave the company a neutral rating in a report on Thursday, May 30th. Finally, UBS Group increased their price objective on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a neutral rating in a report on Monday, August 26th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $244.43.

DICK’S Sporting Goods Trading Down 2.7 %

DICK’S Sporting Goods stock opened at $214.85 on Thursday. The firm has a 50 day moving average of $214.41 and a 200 day moving average of $207.43. The firm has a market capitalization of $17.51 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 2.59 and a beta of 1.65. DICK’S Sporting Goods has a 12-month low of $100.98 and a 12-month high of $239.30. The company has a current ratio of 1.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.55.

DICK’S Sporting Goods (NYSE:DKS) last released its earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.60. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.44 billion. DICK’S Sporting Goods had a net margin of 7.73% and a return on equity of 41.80%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.82 EPS. As a group, research analysts predict that DICK’S Sporting Goods will post 13.8 earnings per share for the current year.

DICK’S Sporting Goods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be given a $1.10 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $4.40 dividend on an annualized basis and a yield of 2.05%. DICK’S Sporting Goods’s dividend payout ratio is presently 36.42%.

Insider Buying and Selling

In related news, Director Desiree Ralls-Morrison sold 3,489 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $206.65, for a total value of $721,001.85. Following the completion of the sale, the director now directly owns 5,609 shares in the company, valued at $1,159,099.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 32.03% of the stock is owned by corporate insiders.

Institutional Trading of DICK’S Sporting Goods

A number of institutional investors have recently bought and sold shares of DKS. Vanguard Group Inc. lifted its position in shares of DICK’S Sporting Goods by 3.2% during the first quarter. Vanguard Group Inc. now owns 5,380,645 shares of the sporting goods retailer’s stock worth $1,209,892,000 after purchasing an additional 166,687 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of DICK’S Sporting Goods by 51.4% during the second quarter. Renaissance Technologies LLC now owns 1,106,341 shares of the sporting goods retailer’s stock worth $237,697,000 after purchasing an additional 375,600 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of DICK’S Sporting Goods by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 807,203 shares of the sporting goods retailer’s stock worth $118,621,000 after purchasing an additional 10,091 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of DICK’S Sporting Goods by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 764,912 shares of the sporting goods retailer’s stock worth $164,341,000 after purchasing an additional 11,792 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of DICK’S Sporting Goods during the fourth quarter worth $108,908,000. 89.83% of the stock is currently owned by institutional investors.

DICK’S Sporting Goods Company Profile

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.