Stifel Nicolaus Has Lowered Expectations for DICK’S Sporting Goods (NYSE:DKS) Stock Price

DICK’S Sporting Goods (NYSE:DKS) had its price objective trimmed by Stifel Nicolaus from $240.00 to $226.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the sporting goods retailer’s stock.

Several other research analysts have also recently issued reports on the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $260.00 price objective on shares of DICK’S Sporting Goods in a research report on Friday, March 7th. Wedbush reiterated a “neutral” rating and issued a $215.00 price objective on shares of DICK’S Sporting Goods in a research report on Thursday, March 6th. UBS Group upgraded DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $225.00 to $260.00 in a research report on Wednesday, November 27th. Loop Capital increased their price objective 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. Finally, TD Cowen increased their price objective on DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $246.91.

DICK’S Sporting Goods Price Performance

DICK’S Sporting Goods stock opened at $194.63 on Wednesday. DICK’S Sporting Goods has a 12 month low of $182.25 and a 12 month high of $254.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The business has a 50 day simple moving average of $230.08 and a 200-day simple moving average of $218.77. The stock has a market capitalization of $15.86 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings results 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. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.85 earnings per share. Equities analysts predict that DICK’S Sporting Goods will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods announced that its board has approved a share repurchase plan on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $1.2125 per share. The ex-dividend date is Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.49%. 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 (DPR) is presently 31.45%.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction dated 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 directly owns 16,504 shares of the company’s stock, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 8,362,128 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 172,933 shares of company stock valued at $39,655,456. Insiders own 32.03% of the company’s stock.

Institutional Trading of DICK’S Sporting Goods

A number of hedge funds have recently added to or reduced their stakes in the business. Wood Tarver Financial Group LLC acquired a new stake in DICK’S Sporting Goods in the 4th quarter worth about $114,000. Siemens Fonds Invest GmbH acquired a new position in shares of DICK’S Sporting Goods in the 4th quarter valued at about $3,384,000. Park Square Financial Group LLC acquired a new position in shares of DICK’S Sporting Goods in the 4th quarter valued at about $27,000. Total Wealth Planning & Management Inc. acquired a new position in shares of DICK’S Sporting Goods in the 4th quarter valued at about $258,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of DICK’S Sporting Goods in the 4th quarter valued at about $6,483,000. 89.83% of the stock is owned by institutional investors and hedge funds.

About DICK’S Sporting Goods

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.