DICK’S Sporting Goods (NYSE:DKS) Hits New 52-Week High – Still a Buy?

DICK’S Sporting Goods, Inc. (NYSE:DKS)’s stock price reached a new 52-week high on Thursday . The company traded as high as $241.71 and last traded at $240.29, with a volume of 85860 shares. The stock had previously closed at $236.46.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. UBS Group raised shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and increased their price target for the stock from $225.00 to $260.00 in a report on Wednesday, November 27th. Telsey Advisory Group reissued an “outperform” rating and set a $260.00 price target on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. Loop Capital increased their price target on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. TD Cowen increased their price target on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Truist Financial increased their price target on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $246.57.

DICK’S Sporting Goods Trading Up 3.7 %

The company’s 50 day moving average price is $219.75 and its two-hundred day moving average price is $214.22. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The stock has a market capitalization of $19.98 billion, a PE ratio of 17.46, a P/E/G ratio of 2.67 and a beta of 1.58.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.07. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.03 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm posted $2.85 earnings per share. As a group, analysts expect that DICK’S Sporting Goods, Inc. will post 13.88 earnings per share for the current year.

DICK’S Sporting Goods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.79%. The ex-dividend date was Friday, December 13th. DICK’S Sporting Goods’s payout ratio is currently 31.45%.

Insider Buying and Selling

In other DICK’S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the completion of the sale, the director now directly owns 50,997 shares in the company, valued at $11,808,355.35. This trade represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of DICK’S Sporting Goods stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the sale, the chairman now owns 8,362,128 shares of the company’s stock, valued at approximately $1,917,017,844. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,933 shares of company stock worth $39,655,456. Insiders own 32.03% of the company’s stock.

Institutional Investors Weigh In On DICK’S Sporting Goods

A number of institutional investors have recently made changes to their positions in DKS. Brooklyn Investment Group acquired a new stake in shares of DICK’S Sporting Goods during the third quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new stake in shares of DICK’S Sporting Goods during the third quarter valued at about $30,000. True Wealth Design LLC increased its position in shares of DICK’S Sporting Goods by 2,900.0% during the third quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock valued at $31,000 after acquiring an additional 145 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of DICK’S Sporting Goods by 590.0% during the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock valued at $32,000 after acquiring an additional 118 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of DICK’S Sporting Goods by 454.8% during the third quarter. UMB Bank n.a. now owns 172 shares of the sporting goods retailer’s stock valued at $36,000 after acquiring an additional 141 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

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.