DICK’S Sporting Goods (NYSE:DKS) Shares Up 4%

DICK’S Sporting Goods, Inc. (NYSE:DKS)’s share price shot up 4% during mid-day trading on Wednesday . The company traded as high as $234.20 and last traded at $233.50. 101,642 shares changed hands during trading, a decline of 91% from the average session volume of 1,116,949 shares. The stock had previously closed at $224.60.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on DKS shares. Oppenheimer boosted 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 research report on Thursday, May 30th. Loop Capital reduced their price target on DICK’S Sporting Goods from $230.00 to $200.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Evercore ISI lifted their price target on shares of DICK’S Sporting Goods from $240.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Telsey Advisory Group reissued an “outperform” rating and issued a $245.00 price objective on shares of DICK’S Sporting Goods in a research note on Wednesday, May 29th. Finally, Barclays raised their target price on DICK’S Sporting Goods from $231.00 to $247.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. 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, DICK’S Sporting Goods presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.05.

DICK’S Sporting Goods Price Performance

The firm has a market cap of $19.00 billion, a P/E ratio of 18.60, a P/E/G ratio of 2.26 and a beta of 1.65. The company has a fifty day moving average of $212.54 and a 200-day moving average of $202.18. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.71 and a quick ratio of 0.65.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Wednesday, May 29th. The sporting goods retailer reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.36. DICK’S Sporting Goods had a net margin of 7.73% and a return on equity of 41.80%. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the firm earned $3.40 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.76 EPS for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, June 14th. DICK’S Sporting Goods’s dividend payout ratio is presently 36.42%.

Insider Activity at DICK’S Sporting Goods

In other 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 completion of the transaction, the director now directly owns 5,609 shares of the company’s stock, valued at approximately $1,159,099.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Desiree Ralls-Morrison sold 3,489 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was 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 of the company’s stock, valued at approximately $1,159,099.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Julie Lodge-Jarrett sold 4,910 shares of DICK’S Sporting Goods stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $222.02, for a total value of $1,090,118.20. Following the completion of the sale, the executive vice president now directly owns 16,504 shares of the company’s stock, valued at approximately $3,664,218.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,400 shares of company stock worth $1,811,336. 32.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new stake in shares of DICK’S Sporting Goods during the fourth quarter valued at about $19,219,000. Cerity Partners LLC bought a new position in DICK’S Sporting Goods in the 4th quarter valued at $241,000. Daiwa Securities Group Inc. boosted its holdings in DICK’S Sporting Goods by 5.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,100 shares of the sporting goods retailer’s stock valued at $602,000 after purchasing an additional 200 shares during the period. Greenleaf Trust purchased a new stake in shares of DICK’S Sporting Goods in the fourth quarter worth $230,000. Finally, Signaturefd LLC increased its stake in DICK’S Sporting Goods by 30.5% in the 4th quarter. Signaturefd LLC now owns 638 shares of the sporting goods retailer’s stock worth $94,000 after acquiring an additional 149 shares during the last quarter. 89.83% of the stock is owned by institutional investors.

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.