Loop Capital Has Lowered Expectations for DICK’S Sporting Goods (NYSE:DKS) Stock Price

DICK’S Sporting Goods (NYSE:DKS) had its target price trimmed by Loop Capital from $195.00 to $180.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has a hold rating on the sporting goods retailer’s stock.

Other equities research analysts also recently issued reports about the stock. Guggenheim reaffirmed a “neutral” rating on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Stifel Nicolaus lowered their price target on shares of DICK’S Sporting Goods from $226.00 to $192.00 and set a “hold” rating for the company in a report on Thursday, April 10th. StockNews.com upgraded shares of DICK’S Sporting Goods from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Barclays lowered their price target on shares of DICK’S Sporting Goods from $254.00 to $223.00 and set an “overweight” rating for the company in a report on Monday, May 12th. Finally, TD Cowen cut shares of DICK’S Sporting Goods from a “buy” rating to a “hold” rating and set a $216.00 price target for the company. in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $229.79.

DICK’S Sporting Goods Price Performance

Shares of DKS opened at $184.01 on Friday. DICK’S Sporting Goods has a fifty-two week low of $166.37 and a fifty-two week high of $254.60. The firm’s 50 day moving average price is $192.01 and its 200 day moving average price is $211.50. The company has a market cap of $14.69 billion, a P/E ratio of 13.15, a PEG ratio of 2.47 and a beta of 1.16. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48.

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

DICK’S Sporting Goods Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $1.2125 dividend. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Friday, March 28th. This represents a $4.85 annualized dividend and a dividend yield of 2.64%. DICK’S Sporting Goods’s dividend payout ratio is presently 34.54%.

DICK’S Sporting Goods announced that its Board of Directors has authorized a share buyback program on Tuesday, March 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the sporting goods retailer to reacquire up to 18.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of DICK’S Sporting Goods

A number of large investors have recently bought and sold shares of DKS. SeaCrest Wealth Management LLC boosted its stake in DICK’S Sporting Goods by 4.8% during the 4th quarter. SeaCrest Wealth Management LLC now owns 1,765 shares of the sporting goods retailer’s stock worth $404,000 after purchasing an additional 81 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in DICK’S Sporting Goods by 3.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,055 shares of the sporting goods retailer’s stock worth $470,000 after purchasing an additional 70 shares during the period. Park Avenue Securities LLC boosted its stake in DICK’S Sporting Goods by 24.0% during the 4th quarter. Park Avenue Securities LLC now owns 4,088 shares of the sporting goods retailer’s stock worth $936,000 after purchasing an additional 792 shares during the period. Gateway Investment Advisers LLC boosted its stake in DICK’S Sporting Goods by 3.6% during the 4th quarter. Gateway Investment Advisers LLC now owns 26,795 shares of the sporting goods retailer’s stock worth $6,132,000 after purchasing an additional 939 shares during the period. Finally, Ritholtz Wealth Management purchased a new position in DICK’S Sporting Goods during the 4th quarter worth $200,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

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.