Short Interest in DICK’S Sporting Goods, Inc. (NYSE:DKS) Expands By 7.3%

DICK’S Sporting Goods, Inc. (NYSE:DKS) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totalling 5,170,000 shares, an increase of 7.3% from the December 31st total of 4,820,000 shares. Approximately 9.3% of the company’s stock are short sold. Based on an average trading volume of 1,070,000 shares, the days-to-cover ratio is presently 4.8 days.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DKS. Truist Financial upped their price objective on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their price objective for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Morgan Stanley raised their price target on DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $260.00 price target on shares of DICK’S Sporting Goods in a research report on Tuesday, November 26th. Finally, Argus boosted their target price on DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $248.09.

Insider Transactions at DICK’S Sporting Goods

In other news, Chairman Edward W. Stack sold 160,600 shares of the company’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 sale, the chairman now directly owns 8,362,128 shares in the company, valued at $1,917,017,844. This represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the transaction, the executive vice president now owns 16,504 shares in the company, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,933 shares of company stock worth $39,655,456 in the last quarter. 32.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DICK’S Sporting Goods

A number of hedge funds and other institutional investors have recently made changes to their positions in DKS. Brooklyn Investment Group bought a new stake in DICK’S Sporting Goods during the third quarter valued at about $27,000. New Wave Wealth Advisors LLC bought a new stake in DICK’S Sporting Goods during the fourth quarter valued at about $28,000. ORG Wealth Partners LLC acquired a new stake in DICK’S Sporting Goods in the third quarter worth about $30,000. True Wealth Design LLC boosted its holdings in DICK’S Sporting Goods by 2,900.0% in the third quarter. True Wealth Design LLC now owns 150 shares of the sporting goods retailer’s stock worth $31,000 after acquiring an additional 145 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in DICK’S Sporting Goods by 590.0% in the fourth quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock worth $32,000 after acquiring an additional 118 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Trading Up 0.9 %

NYSE:DKS traded up $2.18 during midday trading on Tuesday, hitting $239.45. 82,363 shares of the company traded hands, compared to its average volume of 1,046,900. The firm’s fifty day moving average is $226.71 and its 200-day moving average is $216.16. DICK’S Sporting Goods has a 12-month low of $152.42 and a 12-month high of $254.60. The firm has a market capitalization of $19.51 billion, a P/E ratio of 17.10, a P/E/G ratio of 2.73 and a beta of 1.57. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48.

DICK’S Sporting Goods (NYSE:DKS) last released its earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter last year, the firm posted $2.85 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. On average, sell-side analysts predict that DICK’S Sporting Goods will post 13.89 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Friday, December 13th. DICK’S Sporting Goods’s payout ratio is 31.45%.

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.