DICK’S Sporting Goods (NYSE:DKS) Sees Large Volume Increase Following Earnings Beat

DICK’S Sporting Goods, Inc. (NYSE:DKS) saw unusually-strong trading volume on Tuesday after the company announced better than expected quarterly earnings. Approximately 70,574 shares were traded during trading, a decline of 96% from the previous session’s volume of 1,904,788 shares.The stock last traded at $130.60 and had previously closed at $140.28.

The sporting goods retailer reported $3.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.97 by $1.22. DICK’S Sporting Goods had a return on equity of 50.69% and a net margin of 10.69%. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the business earned $2.01 earnings per share. The business’s revenue was up 13.9% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 29th. Shareholders of record on Friday, December 10th will be paid a dividend of $0.4375 per share. The ex-dividend date of this dividend is Thursday, December 9th. This represents a $1.75 annualized dividend and a yield of 1.37%. DICK’S Sporting Goods’s dividend payout ratio is 14.60%.

Several research analysts have recently commented on DKS shares. Wells Fargo & Company initiated coverage on DICK’S Sporting Goods in a report on Wednesday, August 11th. They issued an “equal weight” rating on the stock. Barclays raised their target price on DICK’S Sporting Goods from $150.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, August 26th. Wedbush raised their price objective on shares of DICK’S Sporting Goods from $150.00 to $155.00 and gave the company a “sell” rating in a research report on Wednesday. Citigroup boosted their target price on shares of DICK’S Sporting Goods from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Stephens increased their price target on shares of DICK’S Sporting Goods from $95.00 to $129.00 and gave the company an “equal weight” rating in a research note on Friday, August 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, DICK’S Sporting Goods currently has a consensus rating of “Buy” and an average price target of $126.55.

In related news, EVP Vladimir Rak sold 10,011 shares of the stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $145.08, for a total transaction of $1,452,395.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Lee J. Belitsky sold 35,000 shares of the stock in a transaction on Friday, August 27th. The stock was sold at an average price of $134.86, for a total transaction of $4,720,100.00. The disclosure for this sale can be found here. Insiders sold 65,744 shares of company stock valued at $9,157,069 in the last quarter. 30.09% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Asset Management Inc. boosted its position in shares of DICK’S Sporting Goods by 2.0% during the second quarter. National Asset Management Inc. now owns 4,678 shares of the sporting goods retailer’s stock worth $469,000 after buying an additional 92 shares during the period. Utah Retirement Systems boosted its position in DICK’S Sporting Goods by 3.1% during the 2nd quarter. Utah Retirement Systems now owns 3,300 shares of the sporting goods retailer’s stock worth $331,000 after acquiring an additional 100 shares during the last quarter. Profund Advisors LLC grew its stake in shares of DICK’S Sporting Goods by 2.3% during the 2nd quarter. Profund Advisors LLC now owns 4,722 shares of the sporting goods retailer’s stock worth $474,000 after acquiring an additional 107 shares in the last quarter. CWM Advisors LLC raised its holdings in shares of DICK’S Sporting Goods by 1.1% in the second quarter. CWM Advisors LLC now owns 10,260 shares of the sporting goods retailer’s stock valued at $1,028,000 after purchasing an additional 114 shares during the last quarter. Finally, JustInvest LLC raised its holdings in shares of DICK’S Sporting Goods by 4.0% in the third quarter. JustInvest LLC now owns 3,217 shares of the sporting goods retailer’s stock valued at $385,000 after purchasing an additional 125 shares during the last quarter. 89.50% of the stock is currently owned by hedge funds and other institutional investors.

The firm has a market cap of $11.28 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 0.84 and a beta of 1.72. The company’s fifty day moving average is $127.15 and its 200 day moving average is $113.09. The company has a quick ratio of 0.94, a current ratio of 1.72 and a debt-to-equity ratio of 0.14.

About DICK’S Sporting Goods (NYSE:DKS)

Dick’s Sporting Goods, Inc engages in the retail of extensive assortment of authentic sports equipment, apparel, footwear, and accessories through a blend of associates, in-store services, and unique specialty shop-in-shops. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.

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