DICK’S Sporting Goods (NYSE:DKS) Price Target Lowered to $195.00 at Loop Capital

DICK’S Sporting Goods (NYSE:DKS) had its price target cut by Loop Capital from $240.00 to $195.00 in a research note published on Thursday morning,Benzinga reports. They currently have a hold rating on the sporting goods retailer’s stock.

Several other research firms have also weighed in on DKS. Robert W. Baird reduced their price objective on DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday. Argus increased their price target on DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Wedbush restated a “neutral” rating and set a $215.00 price objective on shares of DICK’S Sporting Goods in a report on Wednesday. DA Davidson reduced their price objective on shares of DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, TD Cowen lifted their target price on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $245.55.

DICK’S Sporting Goods Price Performance

NYSE:DKS opened at $186.69 on Thursday. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. The business’s 50-day moving average price is $230.08 and its 200 day moving average price is $218.77. DICK’S Sporting Goods has a 52-week low of $182.84 and a 52-week high of $254.60. The firm has a market cap of $15.21 billion, a P/E ratio of 13.34, a PEG ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.15. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the previous year, the company posted $3.85 EPS. The business’s revenue was up .5% compared to the same quarter last year. As a group, sell-side analysts predict that DICK’S Sporting Goods will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 31.45%.

DICK’S Sporting Goods announced that its board has approved a stock buyback program on Tuesday, March 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the sporting goods retailer to purchase up to 18.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 172,933 shares of company stock valued at $39,655,456 over the last ninety days. Corporate insiders own 32.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in DICK’S Sporting Goods during the third quarter valued at approximately $27,000. Park Square Financial Group LLC bought a new stake in shares of DICK’S Sporting Goods during the 4th quarter worth $27,000. New Wave Wealth Advisors LLC acquired a new position in DICK’S Sporting Goods in the 4th quarter valued at $28,000. Ancora Advisors LLC bought a new position in DICK’S Sporting Goods in the 4th quarter worth $28,000. Finally, Rialto Wealth Management LLC acquired a new position in DICK’S Sporting Goods during the 4th quarter worth $30,000. 89.83% of the stock is owned by institutional investors.

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.