DICK’S Sporting Goods (NYSE:DKS) Reaches New 12-Month High – Here’s Why

Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $241.71 and last traded at $240.29, with a volume of 85860 shares. The stock had previously closed at $236.46.

Wall Street Analyst Weigh In

DKS has been the subject of a number of research reports. Telsey Advisory Group reissued an “outperform” rating and issued a $260.00 price target on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. Morgan Stanley increased their price objective on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday. Truist Financial increased their price target on DICK’S Sporting Goods from $256.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Wedbush reiterated a “neutral” rating and issued a $215.00 price objective (down previously from $250.00) on shares of DICK’S Sporting Goods in a report on Wednesday, November 27th. Finally, Loop Capital raised their target price on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $246.57.

DICK’S Sporting Goods Price Performance

The stock has a market capitalization of $20.37 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 2.69 and a beta of 1.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The company has a fifty day simple moving average of $221.74 and a two-hundred day simple moving average of $214.79.

DICK’S Sporting Goods (NYSE:DKS) last posted its 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 firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.03 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.85 earnings per share. As a group, equities research analysts expect that DICK’S Sporting Goods, Inc. will post 13.88 earnings per share for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.40 dividend on an annualized basis and a yield of 1.76%. DICK’S Sporting Goods’s payout ratio is 31.45%.

Insider Buying and Selling at DICK’S Sporting Goods

In other news, Director Lawrence J. Schorr sold 7,333 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total value of $1,697,956.15. Following the transaction, the director now directly owns 50,997 shares of the company’s stock, valued at $11,808,355.35. The trade was a 12.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK’S Sporting Goods stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at approximately $3,762,746.96. The trade was a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 172,933 shares of company stock worth $39,655,456. Insiders own 32.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Kerusso Capital Management LLC bought a new stake in DICK’S Sporting Goods in the third quarter worth about $1,554,000. National Pension Service purchased a new position in DICK’S Sporting Goods in the third quarter valued at approximately $4,195,000. Strategy Asset Managers LLC bought a new position in DICK’S Sporting Goods during the third quarter valued at $4,325,000. Marion Wealth Management purchased a new stake in DICK’S Sporting Goods in the fourth quarter worth $545,000. Finally, Landscape Capital Management L.L.C. raised its stake in DICK’S Sporting Goods by 402.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 15,344 shares of the sporting goods retailer’s stock valued at $3,202,000 after acquiring an additional 12,293 shares during the period. 89.83% of the stock is currently owned by institutional investors and hedge funds.

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.