TD Cowen Raises DICK’S Sporting Goods (NYSE:DKS) Price Target to $270.00

DICK’S Sporting Goods (NYSE:DKS) had its price objective increased by TD Cowen from $266.00 to $270.00 in a research report sent to investors on Tuesday morning, Benzinga reports. TD Cowen currently has a buy rating on the sporting goods retailer’s stock.

Several other research firms have also recently issued reports on DKS. UBS Group raised their target price on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a neutral rating in a research note on Monday, August 26th. DA Davidson raised their price objective on DICK’S Sporting Goods from $250.00 to $265.00 and gave the stock a buy rating in a research report on Wednesday, May 29th. Barclays boosted their price objective on shares of DICK’S Sporting Goods from $231.00 to $247.00 and gave the company an overweight rating in a report on Thursday, May 30th. Wedbush increased their target price on shares of DICK’S Sporting Goods from $230.00 to $250.00 and gave the stock a neutral rating in a research note on Wednesday, August 28th. Finally, Evercore ISI lifted their price target on shares of DICK’S Sporting Goods from $240.00 to $280.00 and gave the company an outperform rating in a research report on Thursday, May 30th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $244.43.

DICK’S Sporting Goods Trading Down 3.2 %

Shares of DKS opened at $208.04 on Tuesday. DICK’S Sporting Goods has a 12-month low of $100.98 and a 12-month high of $239.30. The firm has a market capitalization of $16.95 billion, a P/E ratio of 17.22, a P/E/G ratio of 2.59 and a beta of 1.65. The firm has a 50-day moving average price of $214.27 and a 200 day moving average price of $207.70. The company has a current ratio of 1.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.55.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.60. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.44 billion. DICK’S Sporting Goods had a net margin of 7.73% and a return on equity of 41.80%. DICK’S Sporting Goods’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.82 EPS. Sell-side analysts forecast that DICK’S Sporting Goods will post 13.8 EPS for the current year.

DICK’S Sporting Goods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $4.40 annualized dividend and a yield of 2.11%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 36.42%.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, Director Desiree Ralls-Morrison sold 3,489 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $206.65, for a total value of $721,001.85. Following the sale, the director now directly owns 5,609 shares of the company’s stock, valued at approximately $1,159,099.85. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 32.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DICK’S Sporting Goods

Hedge funds and other institutional investors have recently made changes to their positions in the business. TFO Wealth Partners LLC increased its stake in DICK’S Sporting Goods by 37,250.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,241 shares of the sporting goods retailer’s stock valued at $329,000 after purchasing an additional 2,235 shares during the last quarter. Franklin Resources Inc. raised its stake in DICK’S Sporting Goods by 22.0% during the 4th quarter. Franklin Resources Inc. now owns 118,140 shares of the sporting goods retailer’s stock worth $17,361,000 after acquiring an additional 21,342 shares in the last quarter. National Bank of Canada FI raised its stake in DICK’S Sporting Goods by 1,313.0% during the 4th quarter. National Bank of Canada FI now owns 13,989 shares of the sporting goods retailer’s stock worth $2,042,000 after acquiring an additional 12,999 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in DICK’S Sporting Goods in the fourth quarter valued at $956,000. Finally, Russell Investments Group Ltd. boosted its stake in DICK’S Sporting Goods by 12.5% in the first quarter. Russell Investments Group Ltd. now owns 97,880 shares of the sporting goods retailer’s stock valued at $22,009,000 after acquiring an additional 10,894 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

About DICK’S Sporting Goods

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.