DICK’S Sporting Goods (NYSE:DKS) Given New $294.00 Price Target at TD Cowen

DICK’S Sporting Goods (NYSE:DKS) had its price objective upped by TD Cowen from $270.00 to $294.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the sporting goods retailer’s stock.

Several other research analysts have also recently weighed in on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $260.00 price target on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. Loop Capital raised their price target on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Wedbush reissued a “neutral” rating and set a $215.00 price objective (down previously from $250.00) on shares of DICK’S Sporting Goods in a report on Wednesday, November 27th. Truist Financial raised their target price on shares of 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. Finally, UBS Group raised shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $225.00 to $260.00 in a research note on Wednesday, November 27th. Eight 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 has a consensus rating of “Moderate Buy” and a consensus price target of $246.10.

DICK’S Sporting Goods Price Performance

Shares of NYSE DKS opened at $232.72 on Wednesday. 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 fifty-two week low of $137.44 and a fifty-two week high of $239.30. The stock has a market cap of $18.96 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 2.52 and a beta of 1.58. The stock has a fifty day moving average of $213.50 and a 200-day moving average of $213.03.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share 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 for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the prior year, the business posted $2.85 earnings per share. The company’s revenue was up .5% on a year-over-year basis. Equities research analysts anticipate that DICK’S Sporting Goods will post 13.88 earnings per share for the current year.

DICK’S Sporting Goods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Friday, December 13th. DICK’S Sporting Goods’s dividend payout ratio is 31.45%.

Insider Activity

In related news, Director Lawrence J. Schorr sold 7,333 shares of the business’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 transaction, the director now owns 50,997 shares of the company’s stock, valued at $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the sale, the chairman now directly owns 8,362,128 shares in the company, valued at $1,917,017,844. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 32.03% of the company’s stock.

Institutional Trading of DICK’S Sporting Goods

Institutional investors have recently modified their holdings of the company. ICA Group Wealth Management LLC acquired a new stake in DICK’S Sporting Goods in the second quarter valued at approximately $28,000. Brooklyn Investment Group acquired a new stake in shares of DICK’S Sporting Goods in the 3rd quarter worth $27,000. ORG Wealth Partners LLC purchased a new position in DICK’S Sporting Goods during the 3rd quarter worth $30,000. True Wealth Design LLC increased its position in 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 valued at $31,000 after buying an additional 145 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new stake in DICK’S Sporting Goods in the second quarter valued at about $34,000. 89.83% of the stock is currently owned by institutional investors.

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.