Analysts Set DICK’S Sporting Goods, Inc. (NYSE:DKS) Target Price at $245.50

Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) have earned an average rating of “Moderate Buy” from the twenty-one brokerages that are covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $245.50.

A number of brokerages have weighed in on DKS. Citigroup reiterated a “neutral” rating and issued a $220.00 price objective (down previously from $230.00) on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Telsey Advisory Group reiterated an “outperform” rating and issued a $250.00 price target on shares of DICK’S Sporting Goods in a research report on Friday, March 14th. Truist Financial set a $245.00 price target on shares of DICK’S Sporting Goods in a research note on Tuesday, March 11th. Robert W. Baird dropped their price objective on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Finally, TD Cowen increased their target price on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th.

DICK’S Sporting Goods Price Performance

Shares of NYSE:DKS opened at $182.63 on Friday. DICK’S Sporting Goods has a 12 month low of $168.22 and a 12 month high of $254.60. The firm has a market capitalization of $14.88 billion, a P/E ratio of 13.05, a P/E/G ratio of 2.47 and a beta of 1.53. 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 company’s fifty day moving average price is $219.03 and its 200 day moving average price is $216.05.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.15. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The business’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.85 earnings per share. As a group, sell-side analysts predict that DICK’S Sporting Goods will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods announced that its board has initiated a stock buyback program on Tuesday, March 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $1.2125 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a dividend yield of 2.66%. DICK’S Sporting Goods’s dividend payout ratio is 34.54%.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the sale, the executive vice president now owns 16,504 shares in the company, valued at $3,762,746.96. This trade represents a 23.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the completion of the transaction, the chairman now directly owns 8,362,128 shares in the company, valued at approximately $1,917,017,844. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 32.03% of the stock is currently owned by company insiders.

Institutional Trading of DICK’S Sporting Goods

A number of hedge funds and other institutional investors have recently made changes to their positions in DKS. Brooklyn Investment Group bought a new position in DICK’S Sporting Goods during the 3rd quarter valued at $27,000. Park Square Financial Group LLC acquired a new stake in shares of DICK’S Sporting Goods in the 4th quarter valued at about $27,000. New Wave Wealth Advisors LLC acquired a new stake in shares of DICK’S Sporting Goods in the 4th quarter valued at about $28,000. Ancora Advisors LLC bought a new position in shares of DICK’S Sporting Goods during the fourth quarter worth about $28,000. Finally, Rialto Wealth Management LLC acquired a new position in DICK’S Sporting Goods in the fourth quarter worth about $30,000. Institutional investors 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.