DICK’S Sporting Goods (NYSE:DKS) Given New $144.00 Price Target at Citigroup

Posted by Defense World Staff on Mar 9th, 2023

DICK’S Sporting Goods (NYSE:DKS – Get Rating) had its price target boosted by Citigroup from $140.00 to $144.00 in a research report released on Wednesday, The Fly reports. Citigroup currently has a neutral rating on the sporting goods retailer’s stock.

A number of other equities research analysts also recently weighed in on the stock. Williams Trading downgraded shares of DICK’S Sporting Goods from a buy rating to a hold rating in a research note on Monday, February 13th. Cowen raised their target price on shares of DICK’S Sporting Goods from $155.00 to $166.00 in a research note on Monday, February 6th. Wedbush raised their target price on shares of DICK’S Sporting Goods from $130.00 to $140.00 and gave the company an outperform rating in a research note on Wednesday, November 23rd. Cowen raised their target price on shares of DICK’S Sporting Goods from $150.00 to $155.00 in a research note on Wednesday, November 23rd. Finally, Argus raised their target price on shares of DICK’S Sporting Goods from $130.00 to $140.00 in a research note on Tuesday, December 6th. Ten investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $155.52.

DICK’S Sporting Goods Price Performance

DKS stock opened at $149.73 on Wednesday. The firm has a 50 day moving average of $128.97 and a 200-day moving average of $117.78. The company has a current ratio of 1.81, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. DICK’S Sporting Goods has a 12 month low of $63.45 and a 12 month high of $150.18. The firm has a market capitalization of $11.86 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 2.21 and a beta of 1.41.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last released its quarterly earnings data on Tuesday, March 7th. The sporting goods retailer reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.07. DICK’S Sporting Goods had a net margin of 9.52% and a return on equity of 52.43%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period last year, the business earned $3.64 earnings per share. DICK’S Sporting Goods’s revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts predict that DICK’S Sporting Goods will post 11.95 earnings per share for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be issued a $1.00 dividend. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $4.00 annualized dividend and a dividend yield of 2.67%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is currently 17.21%.

Insider Transactions at DICK’S Sporting Goods

In other news, EVP Vladimir Rak sold 29,144 shares of the firm’s stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $112.43, for a total value of $3,276,659.92. Following the transaction, the executive vice president now owns 48,260 shares in the company, valued at $5,425,871.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP John Edward Hayes III sold 1,000 shares of DICK’S Sporting Goods stock in a transaction on Friday, December 9th. The shares were sold at an average price of $120.57, for a total value of $120,570.00. Following the sale, the senior vice president now owns 26,231 shares in the company, valued at $3,162,671.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Vladimir Rak sold 29,144 shares of DICK’S Sporting Goods stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $112.43, for a total transaction of $3,276,659.92. Following the completion of the sale, the executive vice president now owns 48,260 shares in the company, valued at approximately $5,425,871.80. The disclosure for this sale can be found here. Company insiders own 32.83% of the company’s stock.

Institutional Trading of DICK’S Sporting Goods

Several large investors have recently added to or reduced their stakes in DKS. Balyasny Asset Management LLC boosted its holdings in DICK’S Sporting Goods by 6,908.1% in the third quarter. Balyasny Asset Management LLC now owns 1,244,493 shares of the sporting goods retailer’s stock valued at $130,224,000 after acquiring an additional 1,226,735 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of DICK’S Sporting Goods by 1,226.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,209,479 shares of the sporting goods retailer’s stock valued at $91,158,000 after buying an additional 1,118,279 shares in the last quarter. Samlyn Capital LLC boosted its holdings in shares of DICK’S Sporting Goods by 179.0% during the 3rd quarter. Samlyn Capital LLC now owns 1,179,258 shares of the sporting goods retailer’s stock valued at $123,397,000 after buying an additional 756,539 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of DICK’S Sporting Goods by 116.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,174,456 shares of the sporting goods retailer’s stock valued at $141,275,000 after buying an additional 632,420 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of DICK’S Sporting Goods by 155.1% during the 2nd quarter. AQR Capital Management LLC now owns 636,689 shares of the sporting goods retailer’s stock valued at $47,446,000 after buying an additional 387,139 shares in the last quarter. Institutional investors own 75.08% of the company’s stock.

About DICK’S Sporting Goods

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Dick’s Sporting Goods, Inc engages in the retail of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories through a blend of associates, in-store services, and unique specialty shop-in-shops. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.