DICK’S Sporting Goods, Inc. (NYSE:DKS) Short Interest Down 10.6% in September

DICK’S Sporting Goods, Inc. (NYSE:DKS) saw a significant drop in short interest in September. As of September 15th, there was short interest totalling 4,620,000 shares, a drop of 10.6% from the August 31st total of 5,170,000 shares. Based on an average daily volume of 1,030,000 shares, the days-to-cover ratio is presently 4.5 days. Approximately 8.3% of the company’s shares are short sold.

DICK’S Sporting Goods Price Performance

Shares of DKS stock traded down $8.08 during trading hours on Friday, hitting $209.14. 1,390,820 shares of the company’s stock were exchanged, compared to its average volume of 1,119,630. The company has a current ratio of 1.77, a quick ratio of 0.69 and a debt-to-equity ratio of 0.51. DICK’S Sporting Goods has a 12-month low of $100.98 and a 12-month high of $239.30. The company has a market capitalization of $17.04 billion, a PE ratio of 17.31, a PEG ratio of 2.45 and a beta of 1.64. The business’s 50 day simple moving average is $215.69 and its 200-day simple moving average is $211.66.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.60. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.44 billion. DICK’S Sporting Goods had a net margin of 8.46% and a return on equity of 45.14%. DICK’S Sporting Goods’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.82 earnings per share. On average, equities research analysts anticipate that DICK’S Sporting Goods will post 13.9 earnings per share for the current year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders 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 2.10%. DICK’S Sporting Goods’s dividend payout ratio is currently 36.42%.

Insider Transactions at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, Director Desiree Ralls-Morrison sold 3,489 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $206.65, for a total transaction of $721,001.85. Following the transaction, the director now owns 5,609 shares in the company, valued at approximately $1,159,099.85. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 32.03% of the company’s stock.

Institutional Trading of DICK’S Sporting Goods

A number of institutional investors have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund boosted its position in DICK’S Sporting Goods by 755.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,000 shares of the sporting goods retailer’s stock worth $2,363,000 after purchasing an additional 9,714 shares during the period. American Trust acquired a new stake in shares of DICK’S Sporting Goods in the second quarter worth $309,000. Sanctuary Advisors LLC purchased a new stake in shares of DICK’S Sporting Goods during the second quarter worth $15,129,000. Cetera Investment Advisers increased its holdings in shares of DICK’S Sporting Goods by 54.6% during the 2nd quarter. Cetera Investment Advisers now owns 11,672 shares of the sporting goods retailer’s stock valued at $2,508,000 after acquiring an additional 4,124 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in DICK’S Sporting Goods by 1.1% in the 2nd quarter. Truist Financial Corp now owns 18,055 shares of the sporting goods retailer’s stock valued at $3,879,000 after buying an additional 198 shares during the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on DKS shares. Wedbush reiterated a “neutral” rating and issued a $250.00 target price on shares of DICK’S Sporting Goods in a research note on Thursday, September 5th. Loop Capital raised their price target on DICK’S Sporting Goods from $200.00 to $220.00 and gave the company a “hold” rating in a report on Thursday, September 5th. DA Davidson reissued a “buy” rating and issued a $265.00 price objective on shares of DICK’S Sporting Goods in a report on Thursday, September 5th. Evercore ISI reiterated an “outperform” rating and issued a $280.00 price target on shares of DICK’S Sporting Goods in a research note on Thursday, September 5th. Finally, Citigroup reduced their price target on DICK’S Sporting Goods from $243.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.62.

About DICK’S Sporting Goods

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.