DICK’S Sporting Goods (NYSE:DKS) Shares Gap Down – Here’s What Happened

DICK’S Sporting Goods, Inc. (NYSE:DKS)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $211.02, but opened at $206.04. DICK’S Sporting Goods shares last traded at $201.54, with a volume of 1,248,631 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DKS shares. UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $225.00 to $260.00 in a report on Wednesday, November 27th. 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 note on Wednesday, January 8th. Argus boosted their price target on DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Morgan Stanley raised their price objective on DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Loop Capital upped their target price on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $248.09.

DICK’S Sporting Goods Stock Down 5.7 %

The firm has a 50-day simple moving average of $231.36 and a 200 day simple moving average of $219.22. The company has a market capitalization of $16.22 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56.

DICK’S Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, beating the consensus estimate of $3.47 by $0.15. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company’s revenue was up .5% on a year-over-year basis. During the same period last year, the business posted $3.85 EPS. On average, research analysts predict that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a yield of 2.44%. 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%.

Insiders Place Their Bets

In related news, Chairman Edward W. Stack sold 160,600 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $229.25, for a total value of $36,817,550.00. Following the transaction, the chairman now owns 8,362,128 shares in the company, valued at approximately $1,917,017,844. The trade was a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lawrence J. Schorr sold 7,333 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total value of $1,697,956.15. Following the completion of the transaction, the director now directly owns 50,997 shares of the company’s stock, valued at $11,808,355.35. This represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 172,933 shares of company stock worth $39,655,456 in the last quarter. 32.03% of the stock is owned by corporate insiders.

Institutional Trading of DICK’S Sporting Goods

Hedge funds and other 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 3rd quarter worth $27,000. Park Square Financial Group LLC acquired a new position in DICK’S Sporting Goods in the fourth quarter worth about $27,000. New Wave Wealth Advisors LLC bought a new stake in DICK’S Sporting Goods in the fourth quarter valued at about $28,000. Ancora Advisors LLC bought a new stake in DICK’S Sporting Goods in the fourth quarter valued at about $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in DICK’S Sporting Goods during the fourth quarter valued at approximately $30,000. Institutional investors own 89.83% of the company’s stock.

About DICK’S Sporting Goods

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.