Truist Financial Increases DICK’S Sporting Goods (NYSE:DKS) Price Target to $256.00

DICK’S Sporting Goods (NYSE:DKSFree Report) had its price target lifted by Truist Financial from $243.00 to $256.00 in a report released on Thursday, Benzinga reports. Truist Financial currently has a buy rating on the sporting goods retailer’s stock.

A number of other equities research analysts have also recently commented on DKS. Williams Trading upgraded DICK’S Sporting Goods from a hold rating to a buy rating and increased their price target for the company from $154.00 to $235.00 in a research note on Thursday, March 14th. Evercore ISI raised their price objective on DICK’S Sporting Goods from $200.00 to $240.00 and gave the stock an outperform rating in a research note on Friday, March 15th. Morgan Stanley raised their price objective on DICK’S Sporting Goods from $235.00 to $245.00 and gave the stock an overweight rating in a research note on Thursday. Oppenheimer raised their price objective on DICK’S Sporting Goods from $240.00 to $270.00 and gave the stock an outperform rating in a research note on Thursday. Finally, Barclays reduced their price objective on DICK’S Sporting Goods from $239.00 to $231.00 and set an overweight rating for the company in a research note on Monday, May 13th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $237.09.

Read Our Latest Stock Report on DICK’S Sporting Goods

DICK’S Sporting Goods Price Performance

Shares of DKS stock opened at $227.64 on Thursday. The stock’s 50-day moving average is $204.27 and its 200 day moving average is $172.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.71 and a quick ratio of 0.74. DICK’S Sporting Goods has a 1-year low of $100.98 and a 1-year high of $229.56. The company has a market cap of $18.77 billion, a P/E ratio of 18.84, a PEG ratio of 2.71 and a beta of 1.61.

DICK’S Sporting Goods (NYSE:DKSGet Free Report) last released its quarterly earnings results on Wednesday, May 29th. The sporting goods retailer reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.36. DICK’S Sporting Goods had a return on equity of 41.80% and a net margin of 7.73%. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the business posted $3.40 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. Research analysts predict that DICK’S Sporting Goods will post 13.72 earnings per share for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.93%. The ex-dividend date is Thursday, June 13th. DICK’S Sporting Goods’s payout ratio is currently 36.42%.

Insider Buying and Selling at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, SVP Elizabeth H. Baran sold 2,175 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $221.78, for a total value of $482,371.50. Following the sale, the senior vice president now directly owns 11,051 shares of the company’s stock, valued at $2,450,890.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other DICK’S Sporting Goods news, SVP Elizabeth H. Baran sold 2,175 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $221.78, for a total value of $482,371.50. Following the sale, the senior vice president now directly owns 11,051 shares of the company’s stock, valued at $2,450,890.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder William Colombo Trustee U/A Dt purchased 40,000 shares of the stock in a transaction dated Friday, March 15th. The stock was purchased at an average cost of $213.93 per share, for a total transaction of $8,557,200.00. Following the completion of the purchase, the insider now directly owns 8,818,615 shares of the company’s stock, valued at $1,886,566,306.95. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 209,763 shares of company stock valued at $46,483,438. Company insiders own 32.03% of the company’s stock.

Institutional Trading of DICK’S Sporting Goods

A number of institutional investors have recently made changes to their positions in DKS. Norges Bank acquired a new stake in shares of DICK’S Sporting Goods in the fourth quarter worth approximately $108,908,000. AQR Capital Management LLC lifted its position in DICK’S Sporting Goods by 145.0% during the third quarter. AQR Capital Management LLC now owns 789,482 shares of the sporting goods retailer’s stock worth $85,722,000 after buying an additional 467,243 shares in the last quarter. Barclays PLC lifted its position in DICK’S Sporting Goods by 148.3% during the third quarter. Barclays PLC now owns 592,991 shares of the sporting goods retailer’s stock worth $64,388,000 after buying an additional 354,217 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in DICK’S Sporting Goods during the fourth quarter worth approximately $47,196,000. Finally, Invesco Ltd. lifted its position in DICK’S Sporting Goods by 230.0% during the third quarter. Invesco Ltd. now owns 427,767 shares of the sporting goods retailer’s stock worth $46,447,000 after buying an additional 298,121 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

About DICK’S Sporting Goods

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

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Analyst Recommendations for DICK'S Sporting Goods (NYSE:DKS)

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