DICK’S Sporting Goods, Inc. (NYSE:DKS) Given Average Recommendation of “Moderate Buy” by Brokerages

June 19, 2023 Abraham Smith

DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) has received an average rating of Moderate Buy from the 22 research firms covering the stock, reports Marketbeat.com. Eight investment analysts have given a hold rating and fourteen have given a buy rating to the stock. The average 1-year target price among brokers who have covered the stock over the past year is $156.43.

DKS has been the subject of several research reports. Jefferies Financial Group began reporting on shares of DICK’S Sporting Goods in a research note on Tuesday, March 14th. They put a “hold” rating on the company and a price target of $155.00. DA Davidson increased his price target on shares of DICK’S Sporting Goods to $178.00 from $145.00 and gave the stock a “buy” rating in a research report on Wednesday, March 8th. Loop Capital lowered its price target on shares of DICK’S Sporting Goods from $150.00 to $135.00 in a research report on Wednesday, May 24. Gordon Haskett raised his price target on shares of DICK’S Sporting Goods from $135.00 to $170.00 in a research report on Tuesday, March 7th. Finally, Citigroup lowered its price target on shares of DICK’S Sporting Goods from $144.00 to $135.00 in a research report on Wednesday, May 24.

DICK’S Sporting Goods Stock Up 0.0%

NYSE DKS shares opened at $135.10 on Monday. DICK’S Sporting Goods has a 12-month low of $71.31 and a 12-month high of $152.61. The stock has a market cap of $11.65 billion, a P/E of 11.55, a P/E ratio of 1.72, and a beta of 1.44. The company has a current ratio of 1.96, a short-term ratio of 0.76 and a leverage ratio of 0.55. The company has a 50-day moving average of $136.45 and a 200-day moving average of $131.75.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last reported its quarterly earnings data on Tuesday, May 23rd. The sporting goods retailer reported earnings per share (EPS) of $3.40 for the quarter, beating the consensus estimate of $3.22 by $0.18. DICK’S Sporting Goods had a net margin of 8.69% and a return on equity of 45.52%. The company made $2.84 billion in revenue for the quarter, compared to analysts’ expectations of $2.80 billion. In the same quarter last year, the company generated earnings per share of $2.85. DICK’S Sporting Goods sales increased 5.3% compared to the same quarter last year. As a group, sell-side analysts expect DICK’S Sporting Goods to post earnings per share of $13.48 for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. A dividend of $1.00 per share will be paid to shareholders of record on Friday, June 16. That equates to an annual dividend of $4.00 and a yield of 2.96%. The ex-dividend date is Thursday June 15th. DICK’S Sporting Goods’ Dividend Payout Ratio (DPR) is currently 34.19%.

Insiders place their bets

In other news from DICK’S Sporting Goods, SVP John Edward Hayes III sold 1,733 shares of the company’s stock in a transaction that took place on Wednesday, June 7th. The shares sold at an average price of $136.66 for a total transaction of $236,831.78. Following the closing of the transaction, the Senior Vice President now owns 18,416 shares of the Company, valued at approximately $2,516,730.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, available at this hyperlink. In addition, Director Mark J. Barrenechea sold 9,085 shares of the Company’s shares in a transaction on Thursday, May 25. The shares sold at an average price of $123.54 for a total value of $1,122,360.90. Following the closing of the transaction, the Director now owns 2,816 shares of the Company, valued at approximately $347,888.64. The sale was disclosed in a document filed with the SEC, available at this link. In addition, SVP John Edward Hayes III sold 1,733 shares of the company’s shares in a transaction on Wednesday, June 7th. The shares sold at an average price of $136.66 for a total transaction of $236,831.78. Following the closing of the transaction, the Senior Vice President now owns 18,416 shares of the Company, valued at approximately $2,516,730.56. The disclosure for this sale can be found here. Insiders have sold 69,668 shares of the company’s stock valued at $9,493,157 over the past 90 days. Company insiders own 30.79% of the company’s shares.

Institutional inflows and outflows

Large investors have recently changed their stock holdings. Brown Brothers Harriman & Co. increased its stake in DICK’S Sporting Goods stock by 196.7% during the first quarter. Brown Brothers Harriman & Co. now owns 178 shares of the sporting goods retailer, valued at $25,000, after buying another 118 shares last quarter. Heritage Wealth Management LLC increased its stake in DICK’S Sporting Goods by 100.0% in the fourth quarter. Heritage Wealth Management LLC now owns 216 shares of the sporting goods retailer, valued at $26,000, after purchasing an additional 108 shares during the period. Ridgewood Investments LLC acquired a new $28,000 interest in DICK’S Sporting Goods during the first quarter. Fortis Capital Advisors LLC acquired a new $28,000 interest in DICK’S Sporting Goods during the first quarter. Finally, in Q1, Proficio Capital Partners LLC acquired a new $29,000 interest in DICK’S Sporting Goods. Institutional investors and hedge funds own 75.08% of the company’s shares.

DICK’S Sporting Goods Company Profile

(Get rating

DICK’S Sporting Goods, Inc., together with its subsidiaries, operates as a sporting goods retailer primarily in the United States. The Company offers hardlines including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; Clothing; as well as shoes and accessories.

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