DICK’S Sporting Goods, Inc. (NYSE:DKS) Receives $229.79 Average Target Price from Analysts

Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) have been given a consensus rating of “Hold” by the twenty ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $229.47.

A number of research analysts recently issued reports on DKS shares. Citigroup restated a “neutral” rating and set a $220.00 target price (down from $230.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. DA Davidson reissued a “buy” rating and issued a $273.00 price objective on shares of DICK’S Sporting Goods in a report on Friday, May 16th. Robert W. Baird lowered their target price on DICK’S Sporting Goods from $230.00 to $185.00 and set a “neutral” rating on the stock in a research note on Friday, May 16th. Stifel Nicolaus dropped 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, Truist Financial set a $245.00 price target on DICK’S Sporting Goods in a research report on Tuesday, March 11th.

Hedge Funds Weigh In On DICK’S Sporting Goods

Several hedge funds and other institutional investors have recently modified their holdings of DKS. Greenleaf Trust lifted its holdings in shares of DICK’S Sporting Goods by 3.0% in the 4th quarter. Greenleaf Trust now owns 1,721 shares of the sporting goods retailer’s stock worth $394,000 after acquiring an additional 50 shares during the last quarter. Oder Investment Management LLC increased its holdings in DICK’S Sporting Goods by 1.0% in the 1st quarter. Oder Investment Management LLC now owns 5,258 shares of the sporting goods retailer’s stock valued at $1,060,000 after purchasing an additional 51 shares during the last quarter. Independent Advisor Alliance raised its position in DICK’S Sporting Goods by 5.4% in the fourth quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer’s stock valued at $235,000 after purchasing an additional 53 shares during the period. US Bancorp DE raised its position in DICK’S Sporting Goods by 1.1% in the first quarter. US Bancorp DE now owns 4,740 shares of the sporting goods retailer’s stock valued at $955,000 after purchasing an additional 53 shares during the period. Finally, Atria Wealth Solutions Inc. lifted its stake in DICK’S Sporting Goods by 2.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer’s stock worth $577,000 after purchasing an additional 54 shares in the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

DICK’S Sporting Goods Price Performance

Shares of NYSE DKS opened at $167.36 on Monday. DICK’S Sporting Goods has a 52 week low of $166.37 and a 52 week high of $254.60. The business’s 50 day moving average price is $190.30 and its 200 day moving average price is $210.60. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The firm has a market cap of $13.37 billion, a P/E ratio of 11.96, a P/E/G ratio of 2.47 and a beta of 1.16.

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

DICK’S Sporting Goods Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $1.2125 dividend. 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. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.90%. DICK’S Sporting Goods’s payout ratio is currently 34.54%.

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

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.