Robert W. Baird Cuts DICK’S Sporting Goods (NYSE:DKS) Price Target to $185.00

DICK’S Sporting Goods (NYSE:DKS) had its price target trimmed by Robert W. Baird from $230.00 to $185.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the sporting goods retailer’s stock.

A number of other research firms have also commented on DKS. Wedbush reaffirmed a “neutral” rating and set a $215.00 price target on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. Argus raised their target price on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. StockNews.com raised shares of DICK’S Sporting Goods from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Telsey Advisory Group reiterated an “outperform” rating and issued a $250.00 price target on shares of DICK’S Sporting Goods in a report on Thursday. Finally, Morgan Stanley raised their price objective on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $229.79.

DICK’S Sporting Goods Stock Up 2.8%

DICK’S Sporting Goods stock opened at $184.01 on Friday. The firm has a market capitalization of $14.69 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 2.47 and a beta of 1.16. The company’s 50 day simple moving average is $192.01 and its 200 day simple moving average is $211.50. 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 has a fifty-two week low of $166.37 and a fifty-two week high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the previous year, the business earned $3.85 EPS. The firm’s revenue was up .5% on a year-over-year basis. As a group, sell-side analysts anticipate that DICK’S Sporting Goods will post 13.89 EPS for the current year.

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

DICK’S Sporting Goods Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a dividend of $1.2125 per share. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date was Friday, March 28th. This represents a $4.85 annualized dividend and a dividend yield of 2.64%. DICK’S Sporting Goods’s payout ratio is 34.54%.

Hedge Funds Weigh In On DICK’S Sporting Goods

Institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in DICK’S Sporting Goods during the fourth quarter worth $485,000. Argus Investors Counsel Inc. bought a new position in DICK’S Sporting Goods during the fourth quarter worth $257,000. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in DICK’S Sporting Goods by 78.2% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,495 shares of the sporting goods retailer’s stock worth $2,631,000 after purchasing an additional 5,046 shares during the period. Principal Securities Inc. boosted its position in DICK’S Sporting Goods by 11.8% during the fourth quarter. Principal Securities Inc. now owns 3,589 shares of the sporting goods retailer’s stock worth $821,000 after purchasing an additional 380 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in DICK’S Sporting Goods by 15.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,144 shares of the sporting goods retailer’s stock worth $491,000 after purchasing an additional 281 shares during the period. 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.