DICK’S Sporting Goods (NYSE:DKS) Sets New 1-Year High Following Better-Than-Expected Earnings

DICK’S Sporting Goods, Inc. (NYSE:DKSGet Free Report) shares reached a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $227.95 and last traded at $227.42, with a volume of 1381000 shares trading hands. The stock had previously closed at $195.00.

The sporting goods retailer reported $3.30 EPS for the quarter, topping the consensus estimate of $2.94 by $0.36. DICK’S Sporting Goods had a net margin of 8.06% and a return on equity of 42.99%. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the business posted $3.40 earnings per share. DICK’S Sporting Goods’s quarterly revenue was up 6.2% compared to the same quarter last year.

DICK’S Sporting Goods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $4.40 annualized dividend and a yield of 1.96%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 36.12%.

Analyst Ratings Changes

Several analysts have commented on the stock. Loop Capital raised their price objective on shares of DICK’S Sporting Goods from $150.00 to $220.00 and gave the stock a “hold” rating in a report on Monday, March 18th. JPMorgan Chase & Co. lifted their target price 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. Wedbush lifted their target price on shares of DICK’S Sporting Goods from $210.00 to $230.00 and gave the company a “neutral” rating in a report on Thursday. Gordon Haskett lifted their target price on shares of DICK’S Sporting Goods from $190.00 to $260.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Oppenheimer lifted their target price on shares of DICK’S Sporting Goods from $240.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.09.

Get Our Latest Analysis on DKS

Insider Activity at DICK’S Sporting Goods

In related news, CEO Lauren R. Hobart sold 40,167 shares of DICK’S Sporting Goods stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $223.95, for a total transaction of $8,995,399.65. Following the transaction, the chief executive officer now owns 280,136 shares in the company, valued at approximately $62,736,457.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Lauren R. Hobart sold 40,167 shares of DICK’S Sporting Goods stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $223.95, for a total transaction of $8,995,399.65. Following the transaction, the chief executive officer now owns 280,136 shares in the company, valued at approximately $62,736,457.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Edward W. Stack sold 151,210 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $220.93, for a total transaction of $33,406,825.30. Following the completion of the sale, the chairman now owns 10,899,110 shares in the company, valued at approximately $2,407,940,372.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,763 shares of company stock worth $46,483,438. 32.03% of the stock is owned by corporate insiders.

Institutional Trading of DICK’S Sporting Goods

Several hedge funds have recently bought and sold shares of DKS. Teacher Retirement System of Texas lifted its stake in DICK’S Sporting Goods by 3.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 4,853 shares of the sporting goods retailer’s stock worth $527,000 after purchasing an additional 162 shares in the last quarter. Sigma Planning Corp increased its holdings in shares of DICK’S Sporting Goods by 28.4% in the 3rd quarter. Sigma Planning Corp now owns 2,173 shares of the sporting goods retailer’s stock worth $236,000 after buying an additional 481 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of DICK’S Sporting Goods by 14.2% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 30,227 shares of the sporting goods retailer’s stock worth $3,282,000 after buying an additional 3,758 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of DICK’S Sporting Goods by 1.0% in the 3rd quarter. Arizona State Retirement System now owns 17,095 shares of the sporting goods retailer’s stock worth $1,856,000 after buying an additional 162 shares during the last quarter. Finally, South Dakota Investment Council bought a new stake in shares of DICK’S Sporting Goods in the 3rd quarter worth about $2,300,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Stock Performance

The business’s fifty day moving average price is $204.14 and its two-hundred day moving average price is $171.23. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.74 and a current ratio of 1.78. The stock has a market capitalization of $18.48 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.39 and a beta of 1.61.

About DICK’S Sporting Goods

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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.

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