DICK’S Sporting Goods Target of Unusually High Options Trading (NYSE:DKS)

August 24, 2022 Abraham Smith

DICK'S sporting goods logo DICK’s Sporting Goods, Inc. (NYSE:DKS – Get Rating) was the recipient of some unusual activity in options trading on Tuesday. Stock traders bought 18,137 call options on the stock. This is an increase of approximately 121% over the typical daily volume of 8,223 call options.

Changes in analyst ratings

DKS has been the subject of several recent analyst reports. Bank of America has raised its price target on shares of DICK’S Sporting Goods to $125.00 from $105.00 and gave the stock a “buy” rating in a report on Friday, August 19. Gordon Haskett upgraded shares of DICK’S Sporting Goods from a “reduce” rating to a “hold” rating and placed a price target on the stock of $78.00 in a research report on Thursday, May 26. UBS Group lowered its price target for shares of DICK’S Sporting Goods to $85.00 in a research report on Thursday, May 26. Cowen raised his target price on DICK’S Sporting Goods shares to $128.00 from $126.00 and gave the company a rating of “outperform” in a research report on Wednesday, August 17. Finally, on Wednesday, July 20, Stifel Nicolaus raised his target price on shares of DICK’S Sporting Goods from $75.00 to $84.00 in a research report. One equities research analyst has rated the stock with a sell rating, nine with a hold rating and nine with a buy rating. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $118.24.

DICK’S sporting goods retail increased by 0.7%

DICK’S Sporting Goods shares opened at $111.14 on Wednesday. The company’s 50-day simple moving average is $90.60 and its 200-day simple moving average is $95.88. The company has a market cap of $8.95 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 2.06, and a beta of 1.63. The company has a current ratio of 1.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89. DICK’S Sporting Goods has a 1 year low of $63.45 and a 1 year high of $147.39.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last released its quarterly earnings results on Tuesday, August 23rd. The sporting goods retailer reported earnings per share of $3.68 for the quarter, beating analyst consensus estimates of $3.51 by $0.17. DICK’S Sporting Goods had a net margin of 11.75% and a return on equity of 58.42%. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.07 billion. In the same quarter last year, the company generated earnings per share of $5.08. The company’s sales fell by 5.0% compared to the same quarter of the previous year. As a group, sell-side analysts expect DICK’s Sporting Goods to post 10.78 year-to-date EPS.

Insider buying and selling at DICK’S sporting goods

In other news, SVP John Edward Hayes III sold 1,200 shares of the company’s shares in a transaction on Thursday, May 26th. The shares sold at an average price of $84.57 for a total transaction of $101,484.00. Upon closing of the transaction, the senior vice president now owns 34,231 shares of the company, valued at approximately $2,894,915.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. In other news, SVP John Edward Hayes III sold 1,200 shares of the company’s shares in a transaction on Thursday, May 26th. The shares sold at an average price of $84.57 for a total transaction of $101,484.00. Upon closing of the transaction, the senior vice president now owns 34,231 shares of the company, valued at approximately $2,894,915.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. In addition, Director William J. Colombo purchased 5,000 shares of DICK’S Sporting Goods in a transaction dated Tuesday, May 31. The shares were purchased at an average price of $80.99 per share for a total value of $404,950.00. Following the transaction, the director now owns 162,003 shares of the Company, valued at approximately $13,120,622.97. The disclosure for this purchase can be found here. 32.83% of the shares are owned by company insiders.

Institutional inflows and outflows

A number of institutional investors have recently changed their positions in the business. HS Management Partners LLC increased its stake in DICK’S Sporting Goods by 368.8% during the first quarter. HS Management Partners LLC now owns 1,418,366 shares of the sporting goods retailer worth $141,865,000 after purchasing an additional 1,115,841 shares last quarter. Renaissance Technologies LLC increased its position in shares of DICK’S Sporting Goods by 1,226.2% during the second quarter. Renaissance Technologies LLC now owns 1,209,479 shares of the sporting goods retailer valued at $91,158,000 after purchasing an additional 1,118,279 shares during the period. Geode Capital Management LLC increased its position in DICK’S Sporting Goods by 17.0% during the fourth quarter. Geode Capital Management LLC now owns 1,088,733 shares of the sporting goods retailer worth $125,197,000 after purchasing an additional 158,201 shares last quarter. AQR Capital Management LLC increased its position in DICK’S Sporting Goods by 155.1% during the second quarter. AQR Capital Management LLC now owns 636,689 shares of the sporting goods retailer valued at $47,446,000 after acquiring an additional 387,139 shares last quarter. Finally, Fiera Capital Corp increased its position in DICK’S Sporting Goods by 43.5% during the second quarter. Fiera Capital Corp now owns 600,006 shares of the sporting goods retailer, valued at $45,223,000, after acquiring an additional 181,836 shares last quarter. 78.92% of the shares are owned by institutional investors.

DICK’S Sporting Goods Company Profile

(received rating)

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

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