DICK’S Sporting Goods, Inc. (NYSE:DKS) Receives Average Recommendation of “Moderate Buy” from Brokerages

DICK’S Sporting Goods, Inc. (NYSE:DKS) has received a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are currently covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $245.50.

A number of brokerages have recently weighed in on DKS. Guggenheim reiterated a “neutral” rating on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. TD Cowen increased their target price on DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Argus boosted their price target on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. 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 report on Wednesday, March 12th. Finally, Stifel Nicolaus reduced their target price on shares of DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating for the company in a research note on Wednesday, March 12th.

DICK’S Sporting Goods Stock Down 1.3 %

DKS stock opened at $182.63 on Friday. The firm has a market cap of $14.88 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods has a 1-year low of $168.22 and a 1-year high of $254.60. The firm has a fifty day moving average price of $219.03 and a two-hundred day moving average price of $216.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings results 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 analyst estimates of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $3.85 EPS. Research analysts predict that DICK’S Sporting Goods will post 13.89 EPS for the current year.

DICK’S Sporting Goods announced that its Board of Directors has initiated a share 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 repurchase up to 18.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.66%. 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. DICK’S Sporting Goods’s dividend payout ratio is 34.54%.

Insider Activity

In other news, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK’S Sporting Goods stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $227.99, for a total value of $1,139,950.00. Following the transaction, the executive vice president now directly owns 16,504 shares of the company’s stock, valued at $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the completion of the transaction, the chairman now directly owns 8,362,128 shares of the company’s stock, valued at $1,917,017,844. This represents a 1.88 % decrease in their position. 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 have recently modified their holdings of the business. Brooklyn Investment Group purchased a new position in shares of DICK’S Sporting Goods during the third quarter valued at $27,000. Park Square Financial Group LLC purchased a new position in DICK’S Sporting Goods during the 4th quarter valued at about $27,000. New Wave Wealth Advisors LLC acquired a new position in shares of DICK’S Sporting Goods in the 4th quarter valued at about $28,000. Ancora Advisors LLC purchased a new stake in shares of DICK’S Sporting Goods in the fourth quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of DICK’S Sporting Goods in the fourth quarter worth approximately $30,000. Hedge funds and other 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.