DICK’S Sporting Goods (NYSE:DKS) Given Buy Rating at DA Davidson

DA Davidson restated their buy rating on shares of DICK’S Sporting Goods (NYSE:DKS) in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a $230.00 price target on the sporting goods retailer’s stock.

Other equities analysts have also issued research reports about the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $220.00 price target on shares of DICK’S Sporting Goods in a research note on Wednesday, May 28th. Barclays upped their price target on DICK’S Sporting Goods from $217.00 to $232.00 and gave the company an “overweight” rating in a research note on Thursday, May 29th. Gordon Haskett lowered DICK’S Sporting Goods from a “buy” rating to a “reduce” rating and set a $170.00 price target on the stock. in a research note on Friday, May 16th. TD Cowen lowered DICK’S Sporting Goods from a “buy” rating to a “hold” rating and set a $216.00 price target on the stock. in a research note on Thursday, May 15th. Finally, Truist Financial set a $230.00 price target on DICK’S Sporting Goods in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, DICK’S Sporting Goods currently has a consensus rating of “Hold” and a consensus target price of $219.56.

DICK’S Sporting Goods Price Performance

Shares of DKS stock opened at $202.98 on Friday. The stock’s fifty day moving average is $183.82 and its 200-day moving average is $206.11. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.47 and a current ratio of 1.62. The stock has a market capitalization of $16.25 billion, a PE ratio of 14.52, a PEG ratio of 2.79 and a beta of 1.07. DICK’S Sporting Goods has a 52 week low of $166.37 and a 52 week high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last announced its earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 EPS for the quarter, hitting the consensus estimate of $3.37. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.12 billion. DICK’S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. Equities research analysts expect that DICK’S Sporting Goods will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods announced that its Board of Directors has initiated a stock repurchase program on Tuesday, March 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

DICK’S Sporting Goods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a $1.2125 dividend. The ex-dividend date was Friday, June 13th. This represents a $4.85 annualized dividend and a dividend yield of 2.39%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is currently 34.69%.

Insiders Place Their Bets

In related news, EVP Julie Lodge-Jarrett sold 3,541 shares of DICK’S Sporting Goods stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $187.00, for a total value of $662,167.00. Following the sale, the executive vice president now owns 19,165 shares of the company’s stock, valued at approximately $3,583,855. This trade represents a 15.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Eddy bought 1,280 shares of the company’s stock in a transaction that occurred on Thursday, June 26th. The stock was purchased at an average cost of $194.99 per share, for a total transaction of $249,587.20. Following the transaction, the director now owns 6,048 shares in the company, valued at $1,179,299.52. The trade was a 26.85% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 32.55% of the company’s stock.

Institutional Investors Weigh In On DICK’S Sporting Goods

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc grew its stake in DICK’S Sporting Goods by 9.4% in the fourth quarter. IFP Advisors Inc now owns 769 shares of the sporting goods retailer’s stock valued at $176,000 after purchasing an additional 66 shares in the last quarter. Advisor OS LLC bought a new position in DICK’S Sporting Goods in the fourth quarter valued at approximately $318,000. National Pension Service grew its stake in DICK’S Sporting Goods by 0.5% in the fourth quarter. National Pension Service now owns 20,200 shares of the sporting goods retailer’s stock valued at $4,623,000 after purchasing an additional 100 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in DICK’S Sporting Goods by 24.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 7,810 shares of the sporting goods retailer’s stock valued at $1,787,000 after purchasing an additional 1,532 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in DICK’S Sporting Goods in the fourth quarter valued at approximately $12,413,000. Institutional investors and hedge funds 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.