DICK’S Sporting Goods, Inc. (NYSE:DKS) Sees Large Decline in Short Interest

DICK’S Sporting Goods, Inc. (NYSE:DKS) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 3,560,000 shares, a drop of 7.8% from the October 31st total of 3,860,000 shares. Currently, 6.4% of the shares of the stock are short sold. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is currently 3.5 days.

DICK’S Sporting Goods Price Performance

Shares of NYSE:DKS traded up $1.67 during midday trading on Wednesday, hitting $211.16. The company had a trading volume of 686,771 shares, compared to its average volume of 1,096,966. DICK’S Sporting Goods has a twelve month low of $136.44 and a twelve month high of $239.30. 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 stock has a market cap of $17.19 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 2.45 and a beta of 1.61. The business’s 50-day simple moving average is $205.50 and its 200-day simple moving average is $211.15.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, beating the consensus estimate of $2.68 by $0.07. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter last year, the firm earned $2.85 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, research analysts predict that DICK’S Sporting Goods will post 13.88 earnings per share for the current year.

DICK’S Sporting Goods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.40 annualized dividend and a dividend yield of 2.08%. DICK’S Sporting Goods’s dividend payout ratio is presently 31.45%.

Institutional Investors Weigh In On DICK’S Sporting Goods

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC increased its stake in DICK’S Sporting Goods by 47.3% during the third quarter. Tidal Investments LLC now owns 7,597 shares of the sporting goods retailer’s stock worth $1,585,000 after acquiring an additional 2,441 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in DICK’S Sporting Goods during the third quarter worth $140,000. World Investment Advisors LLC acquired a new stake in DICK’S Sporting Goods during the third quarter worth $211,000. Toronto Dominion Bank increased its stake in DICK’S Sporting Goods by 29.1% during the third quarter. Toronto Dominion Bank now owns 7,322 shares of the sporting goods retailer’s stock worth $1,528,000 after acquiring an additional 1,650 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in DICK’S Sporting Goods by 5.7% during the third quarter. Coldstream Capital Management Inc. now owns 10,271 shares of the sporting goods retailer’s stock worth $2,143,000 after acquiring an additional 553 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on DKS shares. Evercore ISI reissued an “outperform” rating and set a $280.00 target price on shares of DICK’S Sporting Goods in a research note on Thursday, September 5th. Wells Fargo & Company decreased their target price on DICK’S Sporting Goods from $230.00 to $227.00 and set an “equal weight” rating on the stock in a research note on Monday, August 12th. Loop Capital lifted their target price on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. lifted their target price on DICK’S Sporting Goods from $211.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $225.00 to $260.00 in a research note on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $244.95.

About DICK’S Sporting Goods

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.