DICK’S Sporting Goods, Inc. (DKS) To Go Ex-Dividend on March 28th

DICK’S Sporting Goods, Inc. (NYSE:DKS) announced a quarterly dividend on Monday, March 10th, RTT News reports. Shareholders of record on Friday, March 28th will be paid a dividend of 1.2125 per share by the sporting goods retailer on Friday, April 11th. This represents a $4.85 annualized dividend and a yield of 2.33%. The ex-dividend date is Friday, March 28th. This is a 10.2% increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10.

DICK’S Sporting Goods has increased its dividend by an average of 40.1% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. DICK’S Sporting Goods has a dividend payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect DICK’S Sporting Goods to earn $14.79 per share next year, which means the company should continue to be able to cover its $4.85 annual dividend with an expected future payout ratio of 32.8%.

DICK’S Sporting Goods Stock Performance

Shares of DICK’S Sporting Goods stock opened at $207.97 on Wednesday. The company has a market capitalization of $16.94 billion, a PE ratio of 14.87, a P/E/G ratio of 2.47 and a beta of 1.53. The company has a 50-day simple moving average of $224.43 and a two-hundred day simple moving average of $216.65. DICK’S Sporting Goods has a one year low of $182.84 and a one year high of $254.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping the consensus estimate of $3.47 by $0.15. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. DICK’S Sporting Goods’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.85 EPS. Research analysts expect that DICK’S Sporting Goods will post 13.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on DKS. TD Cowen upped their target price on DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Truist Financial set a $245.00 price objective on shares of DICK’S Sporting Goods in a report on Tuesday, March 11th. Robert W. Baird lowered their target price on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Guggenheim reissued a “neutral” rating on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Finally, Morgan Stanley raised their price target on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, DICK’S Sporting Goods currently has an average rating of “Moderate Buy” and a consensus price target of $245.50.

Insider Transactions at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, Director Lawrence J. Schorr sold 7,333 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 approximately $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the firm’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 sale, the executive vice president now directly owns 16,504 shares in the company, valued at $3,762,746.96. The trade was a 23.25 % 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 over the last quarter. 32.03% of the stock is currently owned by insiders.

DICK’S Sporting Goods announced that its board has authorized a share buyback program on Tuesday, March 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the sporting goods retailer to buy up to 18.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.