DICK’S Sporting Goods (NYSE:DKS) Price Target Raised to $200.00 at Evercore ISI

Posted by Defense World Staff on Mar 9th, 2023

DICK’S Sporting Goods (NYSE:DKS – Get Rating) had its target price hoisted by Evercore ISI from $160.00 to $200.00 in a research report sent to investors on Wednesday morning, The Fly reports.

DKS has been the topic of several other reports. Robert W. Baird increased their target price on DICK’S Sporting Goods from $120.00 to $150.00 in a research note on Tuesday. Bank of America increased their price target on DICK’S Sporting Goods from $145.00 to $170.00 and gave the company a buy rating in a report on Wednesday. Williams Trading cut DICK’S Sporting Goods from a buy rating to a hold rating in a report on Monday, February 13th. Barclays increased their price target on DICK’S Sporting Goods from $139.00 to $174.00 and gave the company an overweight rating in a report on Wednesday. Finally, Stifel Nicolaus increased their price target on DICK’S Sporting Goods from $100.00 to $112.00 in a report on Wednesday, November 23rd. Ten investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $155.52.

DICK’S Sporting Goods Stock Performance

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

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last posted its quarterly earnings results on Tuesday, March 7th. The sporting goods retailer reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.07. DICK’S Sporting Goods had a return on equity of 52.43% and a net margin of 9.52%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the prior year, the business posted $3.64 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities research 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 firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Thursday, March 16th. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $0.49. DICK’S Sporting Goods’s dividend payout ratio is presently 17.21%.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, SVP John Edward Hayes III sold 1,000 shares of the stock in a transaction on Friday, December 9th. The stock was sold at an average price of $120.57, for a total value of $120,570.00. Following the completion of the sale, the senior vice president now owns 26,231 shares in the company, valued at approximately $3,162,671.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP John Edward Hayes III sold 1,000 shares of the firm’s stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $120.57, for a total transaction of $120,570.00. Following the completion of the transaction, the senior vice president now owns 26,231 shares in the company, valued at $3,162,671.67. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Vladimir Rak sold 29,144 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,425,871.80. The disclosure for this sale can be found here. 32.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. CWM LLC grew its position in shares of DICK’S Sporting Goods by 1.8% during the fourth quarter. CWM LLC now owns 4,506 shares of the sporting goods retailer’s stock valued at $542,000 after purchasing an additional 81 shares in the last quarter. Symmetry Partners LLC grew its position in shares of DICK’S Sporting Goods by 1.1% during the third quarter. Symmetry Partners LLC now owns 8,648 shares of the sporting goods retailer’s stock valued at $905,000 after purchasing an additional 92 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of DICK’S Sporting Goods by 0.4% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 23,723 shares of the sporting goods retailer’s stock valued at $2,854,000 after purchasing an additional 94 shares in the last quarter. Cetera Advisors LLC grew its position in DICK’S Sporting Goods by 3.2% in the fourth quarter. Cetera Advisors LLC now owns 3,197 shares of the sporting goods retailer’s stock worth $385,000 after acquiring an additional 99 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in DICK’S Sporting Goods by 10.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,038 shares of the sporting goods retailer’s stock worth $125,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other 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.