Stock Traders Purchase Large Volume of Put Options on DICK’S Sporting Goods (NYSE:DKS)

Posted by Defense World Staff on Jun 7th, 2023

DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) was the target of unusually large options trading on Tuesday. Investors purchased 27,822 put options on the stock. This is an increase of approximately 224% compared to the typical daily volume of 8,577 put options.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DKS. Stifel Nicolaus lifted their price target on DICK’S Sporting Goods from $112.00 to $157.00 and gave the company a “hold” rating in a research report on Wednesday, March 8th. StockNews.com began coverage on DICK’S Sporting Goods in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Jefferies Financial Group began coverage on DICK’S Sporting Goods in a research report on Tuesday, March 14th. They set a “hold” rating and a $155.00 price target on the stock. Williams Trading cut DICK’S Sporting Goods from a “buy” rating to a “hold” rating in a research report on Monday, February 13th. Finally, DA Davidson lifted their price target on DICK’S Sporting Goods from $145.00 to $178.00 and gave the company a “buy” rating in a research report on Wednesday, March 8th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.43.

DICK’S Sporting Goods Price Performance

DKS opened at $134.47 on Wednesday. The stock has a market cap of $11.60 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.63 and a beta of 1.44. DICK’S Sporting Goods has a 1 year low of $70.21 and a 1 year high of $152.61. The company has a current ratio of 1.96, a quick ratio of 0.76 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average price of $137.28 and a 200 day moving average price of $130.76.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last posted its earnings results on Tuesday, May 23rd. The sporting goods retailer reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.18. DICK’S Sporting Goods had a return on equity of 45.52% and a net margin of 8.69%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the company earned $2.85 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. Analysts forecast that DICK’S Sporting Goods will post 13.47 EPS for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $4.00 annualized dividend and a yield of 2.97%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is currently 34.19%.

Insider Buying and Selling

In related news, Director Anne Fink sold 3,174 shares of the firm’s stock in a transaction that occurred on Thursday, April 6th. The stock was sold at an average price of $139.08, for a total value of $441,439.92. Following the sale, the director now owns 14,481 shares of the company’s stock, valued at approximately $2,014,017.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Edward W. Stack sold 159,461 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $144.38, for a total value of $23,022,979.18. Following the sale, the chairman now directly owns 10,953,633 shares in the company, valued at approximately $1,581,485,532.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Anne Fink sold 3,174 shares of the firm’s stock in a transaction that occurred on Thursday, April 6th. The shares were sold at an average price of $139.08, for a total value of $441,439.92. Following the completion of the sale, the director now owns 14,481 shares in the company, valued at $2,014,017.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 294,467 shares of company stock valued at $42,164,431. Insiders own 30.79% of the company’s stock.

Hedge Funds Weigh In On DICK’S Sporting Goods

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

About DICK’S Sporting Goods

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DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as a sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories.