DICK’S Sporting Goods (NYSE:DKS) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of DICK’S Sporting Goods (NYSE:DKS) from a sell rating to a hold rating in a research note published on Friday morning.

A number of other equities analysts have also commented on the stock. Robert W. Baird lowered their price target on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. Loop Capital lowered their price target on shares of DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating on the stock in a research report on Thursday, March 13th. Morgan Stanley raised their price target on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Truist Financial set a $245.00 price target on shares of DICK’S Sporting Goods in a research report on Tuesday, March 11th. Finally, Citigroup reaffirmed a “neutral” rating and set a $220.00 price target (down from $230.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $241.61.

DICK’S Sporting Goods Price Performance

Shares of DKS opened at $190.57 on Friday. The firm has a market capitalization of $15.22 billion, a PE ratio of 13.62, a PEG ratio of 2.47 and a beta of 1.16. The company’s 50-day moving average is $193.20 and its 200-day moving average is $211.58. DICK’S Sporting Goods has a fifty-two week low of $166.37 and a fifty-two week high of $254.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.15. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.85 earnings per share. Equities analysts forecast that DICK’S Sporting Goods will post 13.89 EPS for the current year.

DICK’S Sporting Goods announced that its board has authorized a share repurchase plan on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

DICK’S Sporting Goods Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a yield of 2.54%. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date was Friday, March 28th. DICK’S Sporting Goods’s dividend payout ratio is presently 34.54%.

Institutional Investors Weigh In On DICK’S Sporting Goods

Hedge funds have recently made changes to their positions in the stock. Park Square Financial Group LLC acquired a new stake in shares of DICK’S Sporting Goods in the 4th quarter valued at approximately $27,000. New Wave Wealth Advisors LLC acquired a new stake in shares of DICK’S Sporting Goods in the 4th quarter valued at approximately $28,000. Ancora Advisors LLC acquired a new stake in shares of DICK’S Sporting Goods in the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC acquired a new stake in shares of DICK’S Sporting Goods in the 4th quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC boosted its stake in shares of DICK’S Sporting Goods by 590.0% in the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock valued at $32,000 after purchasing an additional 118 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

About DICK’S Sporting Goods

Dick’s Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.