DICK’S Sporting Goods (NYSE:DKS) Releases Quarterly Earnings Results, Beats Expectations By $0.18 EPS

DICK’S Sporting Goods (NYSE:DKS – Get Rating) posted its quarterly earnings results on Tuesday. The sporting goods retailer reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.18, Briefing.com reports. DICK’S Sporting Goods had a net margin of 8.43% and a return on equity of 45.97%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the previous year, the firm posted $2.85 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. DICK’S Sporting Goods updated its FY24 guidance to $12.90-13.80 EPS.

DICK’S Sporting Goods Trading Down 1.4 %

Shares of DKS stock opened at $124.58 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.88 and a quick ratio of 0.81. The business has a 50-day moving average of $140.34 and a 200 day moving average of $129.26. The stock has a market capitalization of $10.67 billion, a PE ratio of 11.57, a P/E/G ratio of 1.73 and a beta of 1.44. DICK’S Sporting Goods has a 1-year low of $63.45 and a 1-year high of $152.61.

DICK’S Sporting Goods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be issued a $1.00 dividend. The ex-dividend date is Thursday, June 15th. This represents a $4.00 annualized dividend and a dividend yield of 3.21%. DICK’S Sporting Goods’s dividend payout ratio is currently 37.14%.

Insider Buying and Selling at DICK’S Sporting Goods

In other news, Director Anne Fink sold 3,174 shares of the firm’s stock in a transaction that occurred on Thursday, April 6th. The shares were sold at an average price of $139.08, for a total value of $441,439.92. Following the transaction, the director now owns 14,481 shares in the company, valued at $2,014,017.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Lauren R. Hobart sold 83,392 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $145.21, for a total transaction of $12,109,352.32. Following the transaction, the chief executive officer now owns 233,269 shares in the company, valued at approximately $33,872,991.49. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anne Fink sold 3,174 shares of the stock in a transaction that occurred on Thursday, April 6th. The stock was sold at an average price of $139.08, for a total value of $441,439.92. Following the completion of the sale, the director now owns 14,481 shares of the company’s stock, valued at approximately $2,014,017.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 285,382 shares of company stock worth $41,042,070. 30.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DICK’S Sporting Goods

Hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC boosted its holdings in DICK’S Sporting Goods by 198.3% in the first quarter. Advisory Services Network LLC now owns 3,663 shares of the sporting goods retailer’s stock valued at $520,000 after acquiring an additional 2,435 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of DICK’S Sporting Goods by 18.5% during the 1st quarter. Rockefeller Capital Management L.P. now owns 83,540 shares of the sporting goods retailer’s stock valued at $11,852,000 after purchasing an additional 13,056 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of DICK’S Sporting Goods by 43.6% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 7,676 shares of the sporting goods retailer’s stock valued at $1,089,000 after purchasing an additional 2,331 shares in the last quarter. Atlas Capital Advisors LLC boosted its stake in shares of DICK’S Sporting Goods by 4.8% during the 1st quarter. Atlas Capital Advisors LLC now owns 1,733 shares of the sporting goods retailer’s stock valued at $246,000 after purchasing an additional 79 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of DICK’S Sporting Goods by 5.7% during the 1st quarter. State Street Corp now owns 1,692,324 shares of the sporting goods retailer’s stock valued at $240,124,000 after purchasing an additional 91,716 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DKS has been the topic of several research reports. Wells Fargo & Company lowered their price target on shares of DICK’S Sporting Goods from $146.00 to $140.00 in a research report on Wednesday. Telsey Advisory Group reissued an “outperform” rating and issued a $165.00 price target on shares of DICK’S Sporting Goods in a research report on Friday, March 17th. Bank of America boosted their price target on shares of DICK’S Sporting Goods from $145.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, March 8th. JPMorgan Chase & Co. boosted their price target on shares of DICK’S Sporting Goods from $125.00 to $148.00 and gave the company a “neutral” rating in a research report on Wednesday, March 8th. Finally, Oppenheimer upped their target price on shares of DICK’S Sporting Goods from $138.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, March 8th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, DICK’S Sporting Goods currently has an average rating of “Moderate Buy” and a consensus target price of $156.43.

About DICK’S Sporting Goods

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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.