DICK’S Sporting Goods (NYSE:DKS) Given New $175.00 Price Target at TD Cowen

Posted by Defense World Staff on Mar 9th, 2023

DICK’S Sporting Goods (NYSE:DKS – Get Rating) had its price target increased by TD Cowen from $166.00 to $175.00 in a report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the sporting goods retailer’s stock.

Other research analysts have also recently issued reports about the stock. UBS Group raised 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. Argus raised their price target on shares of DICK’S Sporting Goods from $130.00 to $140.00 in a report on Tuesday, December 6th. Barclays raised their price target on shares of DICK’S Sporting Goods from $139.00 to $174.00 and gave the stock an overweight rating in a report on Wednesday. Cowen raised their price target on shares of DICK’S Sporting Goods from $150.00 to $155.00 in a report on Wednesday, November 23rd. Finally, Wedbush raised their price target 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. Ten equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, DICK’S Sporting Goods has a consensus rating of Moderate Buy and a consensus price target of $155.52.

DICK’S Sporting Goods Stock Performance

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

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last announced its earnings results 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 company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period last year, the company posted $3.64 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts anticipate that DICK’S Sporting Goods will post 11.95 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, March 31st. Stockholders of record on Friday, March 17th will be given a $1.00 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 2.67%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is currently 17.21%.

Insider Activity

In other news, EVP Vladimir Rak sold 29,144 shares of DICK’S Sporting Goods 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 of the company’s stock, valued at $5,425,871.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP John Edward Hayes III sold 1,000 shares of the business’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 owns 26,231 shares of the company’s stock, valued at $3,162,671.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vladimir Rak sold 29,144 shares of the business’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 approximately $5,425,871.80. The disclosure for this sale can be found here. Insiders own 32.83% of the company’s stock.

Hedge Funds Weigh In On DICK’S Sporting Goods

A number of institutional investors and hedge funds have recently bought and sold shares of DKS. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in DICK’S Sporting Goods by 7.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,056 shares of the sporting goods retailer’s stock worth $2,306,000 after acquiring an additional 1,541 shares during the period. Great West Life Assurance Co. Can increased its holdings in DICK’S Sporting Goods by 14.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 40,257 shares of the sporting goods retailer’s stock valued at $4,161,000 after buying an additional 5,111 shares during the period. Yousif Capital Management LLC increased its holdings in DICK’S Sporting Goods by 0.6% in the 1st quarter. Yousif Capital Management LLC now owns 36,694 shares of the sporting goods retailer’s stock valued at $3,670,000 after buying an additional 217 shares during the period. Sei Investments Co. increased its holdings in DICK’S Sporting Goods by 20.3% in the 1st quarter. Sei Investments Co. now owns 30,737 shares of the sporting goods retailer’s stock valued at $3,160,000 after buying an additional 5,182 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in DICK’S Sporting Goods by 34.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,047 shares of the sporting goods retailer’s stock valued at $204,000 after buying an additional 524 shares during the period. Institutional investors own 75.08% of the company’s stock.

DICK’S Sporting Goods Company Profile

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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.