DICK’S Sporting Goods (NYSE:DKS) Price Target Lowered to $145.00 at Morgan Stanley

DICK’S Sporting Goods (NYSE:DKS) had its target price trimmed by Morgan Stanley from $150.00 to $145.00 in a research report released on Tuesday, Benzinga reports. The firm currently has an overweight rating on the sporting goods retailer’s stock.

Several other equities analysts also recently issued reports on the stock. Telsey Advisory Group restated an outperform rating and set a $140.00 price objective (down previously from $160.00) on shares of DICK’S Sporting Goods in a report on Tuesday, August 22nd. Bank of America cut shares of DICK’S Sporting Goods from a buy rating to a neutral rating and decreased their price target for the stock from $180.00 to $125.00 in a report on Wednesday, August 23rd. Citigroup dropped their price objective on shares of DICK’S Sporting Goods from $153.00 to $118.00 and set a neutral rating on the stock in a report on Wednesday, August 23rd. Stephens reaffirmed an equal weight rating and set a $141.00 price target on shares of DICK’S Sporting Goods in a research report on Tuesday, August 22nd. Finally, The Goldman Sachs Group cut their price objective on DICK’S Sporting Goods from $164.00 to $145.00 and set a buy rating on the stock in a report on Wednesday, August 23rd. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, DICK’S Sporting Goods has an average rating of Hold and an average price target of $142.96.

DICK’S Sporting Goods Stock Performance

Shares of DICK’S Sporting Goods stock opened at $113.97 on Tuesday. DICK’S Sporting Goods has a one year low of $98.01 and a one year high of $152.61. The company has a market capitalization of $9.69 billion, a PE ratio of 10.11, a P/E/G ratio of 1.89 and a beta of 1.49. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.78 and a current ratio of 1.81. The company has a 50-day simple moving average of $108.99 and a two-hundred day simple moving average of $124.76.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Tuesday, August 22nd. The sporting goods retailer reported $2.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.76 by ($0.94). DICK’S Sporting Goods had a return on equity of 40.52% and a net margin of 8.03%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the company posted $3.68 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Research analysts expect that DICK’S Sporting Goods will post 11.81 EPS for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.51%. The ex-dividend date was Thursday, September 14th. DICK’S Sporting Goods’s payout ratio is currently 35.49%.

Insider Transactions at DICK’S Sporting Goods

In related news, Director William J. Colombo purchased 2,200 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were purchased at an average price of $110.00 per share, with a total value of $242,000.00. Following the purchase, the director now owns 170,192 shares of the company’s stock, valued at $18,721,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Sandeep Mathrani acquired 1,300 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was bought at an average cost of $113.54 per share, for a total transaction of $147,602.00. Following the purchase, the director now owns 6,647 shares in the company, valued at $754,700.38. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William J. Colombo bought 2,200 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was purchased at an average price of $110.00 per share, for a total transaction of $242,000.00. Following the transaction, the director now owns 170,192 shares of the company’s stock, valued at $18,721,120. The disclosure for this purchase can be found here. Corporate insiders own 30.79% of the company’s stock.

Institutional Trading of DICK’S Sporting Goods

Large investors have recently made changes to their positions in the company. FMR LLC grew its holdings in shares of DICK’S Sporting Goods by 1.0% during the first quarter. FMR LLC now owns 9,005,968 shares of the sporting goods retailer’s stock worth $1,277,857,000 after buying an additional 87,329 shares in the last quarter. BlackRock Inc. grew its stake in DICK’S Sporting Goods by 8.3% during the 2nd quarter. BlackRock Inc. now owns 6,478,747 shares of the sporting goods retailer’s stock valued at $856,426,000 after acquiring an additional 494,939 shares in the last quarter. Victory Capital Management Inc. raised its holdings in DICK’S Sporting Goods by 9,735.6% in the 3rd quarter. Victory Capital Management Inc. now owns 2,239,273 shares of the sporting goods retailer’s stock valued at $243,140,000 after acquiring an additional 2,216,506 shares during the last quarter. State Street Corp lifted its stake in DICK’S Sporting Goods by 17.1% in the 2nd quarter. State Street Corp now owns 1,981,489 shares of the sporting goods retailer’s stock worth $261,933,000 after purchasing an additional 289,165 shares in the last quarter. Finally, Atreides Management LP lifted its stake in DICK’S Sporting Goods by 2.6% in the 1st quarter. Atreides Management LP now owns 1,664,889 shares of the sporting goods retailer’s stock worth $236,231,000 after purchasing an additional 42,367 shares in the last quarter. 68.21% of the stock is currently owned by hedge funds and other institutional investors.

DICK’S Sporting Goods Company Profile

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