DICK’S Sporting Goods (NYSE:DKS) Given New $280.00 Price Target at Argus

DICK’S Sporting Goods (NYSE:DKS) had its price objective increased by Argus from $255.00 to $280.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Argus currently has a buy rating on the sporting goods retailer’s stock.

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley lifted their target price on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Wedbush restated a “neutral” rating and set a $215.00 target price (down from $250.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, November 27th. Truist Financial upped 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 report on Wednesday, November 27th. Loop Capital upped their target price on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $260.00 price target on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $248.09.

DICK’S Sporting Goods Price Performance

Shares of DKS opened at $245.52 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48. DICK’S Sporting Goods has a twelve month low of $148.95 and a twelve month high of $254.60. The company has a market capitalization of $20.00 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 2.69 and a beta of 1.58. The firm has a 50 day moving average of $224.68 and a 200 day moving average of $215.65.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings data on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.07. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the firm posted $2.85 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities research analysts anticipate that DICK’S Sporting Goods will post 13.88 earnings per share for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $1.10 dividend. The ex-dividend date was Friday, December 13th. This represents a $4.40 annualized dividend and a dividend yield of 1.79%. DICK’S Sporting Goods’s payout ratio is presently 31.45%.

Insider Transactions at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $227.99, for a total value of $1,139,950.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chairman now directly owns 8,362,128 shares of the company’s stock, valued at approximately $1,917,017,844. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,933 shares of company stock valued at $39,655,456. Company insiders own 32.03% of the company’s stock.

Institutional Trading of DICK’S Sporting Goods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Holocene Advisors LP acquired a new stake in shares of DICK’S Sporting Goods during the third quarter worth approximately $70,562,000. KBC Group NV lifted its stake in DICK’S Sporting Goods by 887.3% in the third quarter. KBC Group NV now owns 250,374 shares of the sporting goods retailer’s stock valued at $52,253,000 after buying an additional 225,015 shares during the last quarter. International Assets Investment Management LLC lifted its stake in DICK’S Sporting Goods by 19,851.3% in the third quarter. International Assets Investment Management LLC now owns 208,491 shares of the sporting goods retailer’s stock valued at $43,512,000 after buying an additional 207,446 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in DICK’S Sporting Goods by 1,718.2% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 200,000 shares of the sporting goods retailer’s stock valued at $41,740,000 after buying an additional 189,000 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in DICK’S Sporting Goods in the third quarter valued at $32,093,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

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.