DICK’S Sporting Goods (NYSE:DKS) Price Target Raised to $255.00

DICK’S Sporting Goods (NYSE:DKS) had its price target lifted by Morgan Stanley from $245.00 to $255.00 in a report published on Tuesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the sporting goods retailer’s stock.

Several other research analysts also recently issued reports on DKS. Telsey Advisory Group restated an “outperform” rating and set a $260.00 price objective on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. TD Cowen boosted their price target on DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. UBS Group upgraded DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $225.00 to $260.00 in a research report on Wednesday, November 27th. Truist Financial lifted their price objective on DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Loop Capital upped 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. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, DICK’S Sporting Goods presently has a consensus rating of “Moderate Buy” and an average target price of $246.57.

DICK’S Sporting Goods Price Performance

NYSE DKS opened at $246.46 on Tuesday. The stock has a market capitalization of $20.08 billion, a PE ratio of 17.62, a P/E/G ratio of 2.67 and a beta of 1.58. The stock has a 50-day simple moving average of $220.70 and a 200 day simple moving average of $214.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. DICK’S Sporting Goods has a twelve month low of $148.92 and a twelve month high of $246.74.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.07. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.03 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.85 earnings per share. Research analysts anticipate that DICK’S Sporting Goods will post 13.88 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $1.10 per share. The ex-dividend date was Friday, December 13th. This represents a $4.40 dividend on an annualized basis and a yield of 1.79%. DICK’S Sporting Goods’s dividend payout ratio is 31.45%.

Insiders Place Their Bets

In related news, Director Lawrence J. Schorr sold 7,333 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total value of $1,697,956.15. Following the completion of the sale, the director now owns 50,997 shares of the company’s stock, valued at $11,808,355.35. This trade represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’s stock in a transaction on Friday, January 17th. The stock was 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 in the company, valued at approximately $3,762,746.96. This represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,933 shares of company stock valued at $39,655,456. 32.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DICK’S Sporting Goods

A number of institutional investors and hedge funds have recently made changes to their positions in DKS. Brooklyn Investment Group bought a new position in DICK’S Sporting Goods in the third quarter valued at about $27,000. New Wave Wealth Advisors LLC acquired a new position in DICK’S Sporting Goods during the 4th quarter valued at about $28,000. ORG Wealth Partners LLC acquired a new stake in shares of DICK’S Sporting Goods during the 3rd quarter worth approximately $30,000. True Wealth Design LLC grew its position in shares of DICK’S Sporting Goods by 2,900.0% during the 3rd quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock worth $31,000 after buying an additional 145 shares during the period. Finally, Sound Income Strategies LLC raised its stake in shares of DICK’S Sporting Goods by 590.0% during the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock worth $32,000 after buying an additional 118 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Company Profile

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.