Barclays Cuts DICK’S Sporting Goods (NYSE:DKS) Price Target to $223.00

DICK’S Sporting Goods (NYSE:DKS) had its target price decreased by Barclays from $254.00 to $223.00 in a research report sent to investors on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the sporting goods retailer’s stock.

DKS has been the topic of several other reports. Robert W. Baird reduced their target price on DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. StockNews.com upgraded DICK’S Sporting Goods from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Truist Financial set a $245.00 target price on DICK’S Sporting Goods in a report on Tuesday, March 11th. Stifel Nicolaus reduced their target price on DICK’S Sporting Goods from $226.00 to $192.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. Finally, Wedbush reiterated a “neutral” rating and set a $215.00 target price on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $240.78.

DICK’S Sporting Goods Price Performance

Shares of DKS opened at $210.05 on Monday. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. DICK’S Sporting Goods has a 1 year low of $166.37 and a 1 year high of $254.60. The stock has a market cap of $16.77 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 2.47 and a beta of 1.16. The stock’s 50-day moving average price is $192.97 and its two-hundred day moving average price is $211.62.

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

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

DICK’S Sporting Goods Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a yield of 2.31%. The ex-dividend date was Friday, March 28th. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio is presently 34.54%.

Institutional Trading of DICK’S Sporting Goods

Several institutional investors and hedge funds have recently bought and sold shares of the stock. B. Metzler seel. Sohn & Co. AG raised its holdings in DICK’S Sporting Goods by 90.2% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 8,202 shares of the sporting goods retailer’s stock worth $1,653,000 after acquiring an additional 3,890 shares in the last quarter. Avalon Global Asset Management LLC raised its holdings in DICK’S Sporting Goods by 31.8% during the first quarter. Avalon Global Asset Management LLC now owns 65,900 shares of the sporting goods retailer’s stock worth $13,283,000 after acquiring an additional 15,900 shares in the last quarter. Comerica Bank raised its holdings in DICK’S Sporting Goods by 368.2% during the first quarter. Comerica Bank now owns 129,085 shares of the sporting goods retailer’s stock worth $26,019,000 after acquiring an additional 101,514 shares in the last quarter. Jump Financial LLC bought a new stake in DICK’S Sporting Goods during the first quarter worth about $764,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in DICK’S Sporting Goods by 104.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,878 shares of the sporting goods retailer’s stock worth $580,000 after acquiring an additional 1,468 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

About DICK’S Sporting Goods

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.