DICK’S Sporting Goods (NYSE:DKS) Price Target Increased to $178.00 by Analysts at DA Davidson

Posted by Defense World Staff on Mar 9th, 2023

DICK’S Sporting Goods (NYSE:DKS – Get Rating) had its price objective upped by DA Davidson from $145.00 to $178.00 in a research note released on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the sporting goods retailer’s stock.

A number of other equities research analysts have also issued reports on DKS. Citigroup increased their target price on shares of DICK’S Sporting Goods from $140.00 to $144.00 and gave the stock a neutral rating in a report on Wednesday. Cowen increased their target price on shares of DICK’S Sporting Goods from $150.00 to $155.00 in a report on Wednesday, November 23rd. Wedbush increased their target price on shares of DICK’S Sporting Goods from $140.00 to $155.00 and gave the stock an outperform rating in a report on Wednesday. UBS Group increased their target price on shares of DICK’S Sporting Goods from $120.00 to $130.00 and gave the stock a neutral rating in a report on Friday, January 6th. Finally, Telsey Advisory Group reiterated an outperform rating and set a $135.00 target price on shares of DICK’S Sporting Goods in a report on Friday, March 3rd. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $155.52.

DICK’S Sporting Goods Stock Performance

DICK’S Sporting Goods stock opened at $149.73 on Wednesday. The firm has a 50 day simple moving average of $128.97 and a 200-day simple moving average of $117.78. DICK’S Sporting Goods has a 1-year low of $63.45 and a 1-year high of $150.18. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.81 and a quick ratio of 0.59. The stock has a market cap of $11.86 billion, a price-to-earnings 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 issued its quarterly earnings data on Tuesday, March 7th. The sporting goods retailer reported $2.93 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period in the prior year, the business posted $3.64 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, analysts expect that DICK’S Sporting Goods will post 11.95 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

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

Insider Activity at DICK’S Sporting Goods

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DKS. Balyasny Asset Management LLC boosted its holdings in shares of 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% in the second quarter. Renaissance Technologies LLC now owns 1,209,479 shares of the sporting goods retailer’s stock valued at $91,158,000 after acquiring 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% in the third quarter. Samlyn Capital LLC now owns 1,179,258 shares of the sporting goods retailer’s stock valued at $123,397,000 after acquiring 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% in the fourth 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 acquiring an additional 632,420 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of DICK’S Sporting Goods by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 881,663 shares of the sporting goods retailer’s stock valued at $106,366,000 after acquiring an additional 6,374 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

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.