TD Cowen Boosts DICK’S Sporting Goods (NYSE:DKS) Price Target to $270.00

DICK’S Sporting Goods (NYSE:DKS) had its price objective lifted by TD Cowen from $266.00 to $270.00 in a report issued on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the sporting goods retailer’s stock.

A number of other equities analysts have also weighed in on the company. UBS Group upped their price objective on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a neutral rating in a research note on Monday, August 26th. Telsey Advisory Group upped their price objective on DICK’S Sporting Goods from $255.00 to $260.00 and gave the stock an outperform rating in a research note on Friday, August 30th. Loop Capital dropped their price objective on DICK’S Sporting Goods from $230.00 to $200.00 and set a hold rating for the company in a research note on Tuesday, August 6th. Truist Financial upped their price objective on DICK’S Sporting Goods from $243.00 to $256.00 and gave the stock a buy rating in a research note on Thursday, May 30th. Finally, Oppenheimer upped their price objective on DICK’S Sporting Goods from $240.00 to $270.00 and gave the stock an outperform rating in a research note on Thursday, May 30th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $244.43.

DICK’S Sporting Goods Stock Performance

Shares of DKS opened at $214.85 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 1.71 and a debt-to-equity ratio of 0.55. The business has a 50-day simple moving average of $214.41 and a two-hundred day simple moving average of $207.43. The stock has a market cap of $17.51 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 2.59 and a beta of 1.65. DICK’S Sporting Goods has a 52 week low of $100.98 and a 52 week high of $239.30.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.60. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.44 billion. DICK’S Sporting Goods had a return on equity of 41.80% and a net margin of 7.73%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.82 earnings per share. On average, analysts expect that DICK’S Sporting Goods will post 13.8 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $4.40 annualized dividend and a yield of 2.05%. DICK’S Sporting Goods’s payout ratio is currently 36.42%.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, Director Desiree Ralls-Morrison sold 3,489 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $206.65, for a total transaction of $721,001.85. Following the transaction, the director now directly owns 5,609 shares in the company, valued at approximately $1,159,099.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 32.03% of the stock is currently owned by company insiders.

Institutional Trading of DICK’S Sporting Goods

Several hedge funds and other institutional investors have recently bought and sold shares of DKS. Sanctuary Advisors LLC acquired a new stake in shares of DICK’S Sporting Goods in the 2nd quarter worth $15,129,000. Cetera Investment Advisers boosted its position in shares of DICK’S Sporting Goods by 54.6% in the 2nd quarter. Cetera Investment Advisers now owns 11,672 shares of the sporting goods retailer’s stock worth $2,508,000 after purchasing an additional 4,124 shares in the last quarter. Truist Financial Corp boosted its position in shares of DICK’S Sporting Goods by 1.1% in the 2nd quarter. Truist Financial Corp now owns 18,055 shares of the sporting goods retailer’s stock worth $3,879,000 after purchasing an additional 198 shares in the last quarter. Creative Planning boosted its position in shares of DICK’S Sporting Goods by 2.6% in the 2nd quarter. Creative Planning now owns 16,775 shares of the sporting goods retailer’s stock worth $3,604,000 after purchasing an additional 425 shares in the last quarter. Finally, Scientech Research LLC boosted its position in shares of DICK’S Sporting Goods by 525.2% in the 2nd quarter. Scientech Research LLC now owns 14,579 shares of the sporting goods retailer’s stock worth $3,132,000 after purchasing an additional 12,247 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

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.