Citigroup Cuts DICK’S Sporting Goods (NYSE:DKS) Price Target to $230.00

DICK’S Sporting Goods (NYSE:DKS) had its price objective reduced by Citigroup from $243.00 to $230.00 in a research note published on Thursday, Benzinga reports. Citigroup currently has a neutral rating on the sporting goods retailer’s stock.

A number of other analysts have also recently weighed in on DKS. Evercore ISI reaffirmed an outperform rating and set a $280.00 target price on shares of DICK’S Sporting Goods in a research note on Thursday. Loop Capital boosted their target price on shares of DICK’S Sporting Goods from $200.00 to $220.00 and gave the stock a hold rating in a research note on Thursday. DA Davidson reiterated a buy rating and set a $265.00 price target on shares of DICK’S Sporting Goods in a report on Thursday. TD Cowen lifted their price target on shares of DICK’S Sporting Goods from $266.00 to $270.00 and gave the stock a buy rating in a report on Tuesday, September 3rd. Finally, Robert W. Baird reiterated a neutral rating and set a $235.00 price target on shares of DICK’S Sporting Goods in a report on Wednesday, August 28th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $244.43.

DICK’S Sporting Goods Stock Performance

Shares of NYSE:DKS opened at $208.04 on Thursday. The company’s 50 day simple moving average is $214.27 and its 200 day simple moving average is $208.28. The stock has a market capitalization of $16.95 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 2.59 and a beta of 1.64. DICK’S Sporting Goods has a 1 year low of $100.98 and a 1 year high of $239.30. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.71 and a quick ratio of 0.65.

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

DICK’S Sporting Goods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $4.40 annualized dividend and a dividend yield of 2.11%. DICK’S Sporting Goods’s dividend payout ratio is currently 36.42%.

Insider Activity

In other news, Director Desiree Ralls-Morrison sold 3,489 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $206.65, for a total transaction of $721,001.85. Following the transaction, the director now owns 5,609 shares in the company, valued at $1,159,099.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 32.03% of the company’s stock.

Hedge Funds Weigh In On DICK’S Sporting Goods

Several institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new position in shares of DICK’S Sporting Goods during the second quarter valued at about $15,129,000. Cetera Investment Advisers raised its holdings in shares of DICK’S Sporting Goods by 54.6% during the second quarter. Cetera Investment Advisers now owns 11,672 shares of the sporting goods retailer’s stock valued at $2,508,000 after purchasing an additional 4,124 shares during the period. Truist Financial Corp increased its position in shares of DICK’S Sporting Goods by 1.1% during the second quarter. Truist Financial Corp now owns 18,055 shares of the sporting goods retailer’s stock worth $3,879,000 after acquiring an additional 198 shares in the last quarter. Creative Planning increased its position in shares of DICK’S Sporting Goods by 2.6% during the second quarter. Creative Planning now owns 16,775 shares of the sporting goods retailer’s stock worth $3,604,000 after acquiring an additional 425 shares in the last quarter. Finally, Scientech Research LLC increased its position in shares of DICK’S Sporting Goods by 525.2% during the second quarter. Scientech Research LLC now owns 14,579 shares of the sporting goods retailer’s stock worth $3,132,000 after acquiring an additional 12,247 shares in the last quarter. Institutional investors and hedge funds 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.