DICK’S Sporting Goods (NYSE:DKS) Price Target Cut to $273.00 by Analysts at DA Davidson

DICK’S Sporting Goods (NYSE:DKS) had its target price decreased by DA Davidson from $280.00 to $273.00 in a report published on Wednesday morning,Benzinga reports. DA Davidson currently has a buy rating on the sporting goods retailer’s stock.

Several other equities research analysts also recently commented on DKS. Robert W. Baird reduced their price objective on DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday. Wedbush reissued a “neutral” rating and issued a $215.00 target price on shares of DICK’S Sporting Goods in a research report on Wednesday. Loop Capital raised their target price on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Stifel Nicolaus dropped their target price on DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Truist Financial set a $245.00 target price on DICK’S Sporting Goods in a research report on Tuesday. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $246.91.

DICK’S Sporting Goods Price Performance

NYSE DKS opened at $194.63 on Wednesday. DICK’S Sporting Goods has a one year low of $182.25 and a one year high of $254.60. The stock has a 50-day moving average of $230.08 and a 200 day moving average of $218.77. The company has a market capitalization of $15.86 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 2.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 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 last year, the company earned $3.85 EPS. DICK’S Sporting Goods’s revenue for the quarter was up .5% on a year-over-year basis. On average, sell-side analysts forecast that DICK’S Sporting Goods will post 13.89 EPS for the current year.

DICK’S Sporting Goods declared that its board has approved a share buyback program on Tuesday, March 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $1.2125 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 dividend on an annualized basis and a yield of 2.49%. DICK’S Sporting Goods’s payout ratio is currently 31.45%.

Insider Buying and Selling

In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK’S Sporting Goods stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $227.99, for a total value of $1,139,950.00. Following the sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at $3,762,746.96. The trade was a 23.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction that occurred 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 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. In the last three months, insiders have sold 172,933 shares of company stock valued at $39,655,456. Corporate insiders own 32.03% of the company’s stock.

Institutional Trading of DICK’S Sporting Goods

A number of large investors have recently added to or reduced their stakes in DKS. Brooklyn Investment Group bought a new stake in DICK’S Sporting Goods in the 3rd quarter worth approximately $27,000. Park Square Financial Group LLC bought a new stake in DICK’S Sporting Goods in the 4th quarter worth approximately $27,000. New Wave Wealth Advisors LLC bought a new stake in DICK’S Sporting Goods in the 4th quarter worth approximately $28,000. Ancora Advisors LLC bought a new stake in DICK’S Sporting Goods in the 4th quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC bought a new position in shares of DICK’S Sporting Goods during the 4th quarter valued at approximately $30,000. 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.