DICK’S Sporting Goods (NYSE:DKS) Price Target Raised to $250.00

DICK’S Sporting Goods (NYSE:DKS) had its price target lifted by Bank of America from $240.00 to $250.00 in a report released on Thursday, Benzinga reports. Bank of America currently has a buy rating on the sporting goods retailer’s stock.

A number of other brokerages have also weighed in on DKS. DA Davidson restated a buy rating and set a $265.00 price target on shares of DICK’S Sporting Goods in a research note on Thursday. Oppenheimer boosted their price target on DICK’S Sporting Goods from $240.00 to $270.00 and gave the stock an outperform rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. boosted their price target on DICK’S Sporting Goods from $197.00 to $211.00 and gave the stock a neutral rating in a research note on Thursday, May 30th. Barclays boosted their price target on DICK’S Sporting Goods from $247.00 to $254.00 and gave the stock an overweight rating in a research note on Thursday. Finally, Stifel Nicolaus boosted their price target on DICK’S Sporting Goods from $215.00 to $232.00 and gave the stock a hold rating in a research note on Thursday, May 30th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $244.43.

DICK’S Sporting Goods Price Performance

DKS opened at $208.04 on Thursday. The business’s 50-day moving average is $214.27 and its two-hundred day moving average is $207.99. DICK’S Sporting Goods has a 1 year low of $100.98 and a 1 year high of $239.30. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.71 and a quick ratio of 0.65. The firm has a market capitalization of $16.95 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 2.59 and a beta of 1.64.

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 (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.60. DICK’S Sporting Goods had a return on equity of 41.80% and a net margin of 7.73%. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the previous year, the firm earned $2.82 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. Research analysts anticipate that DICK’S Sporting Goods will post 13.8 earnings per share for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

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

Insider Buying and Selling at DICK’S Sporting Goods

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

Institutional Inflows and Outflows

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

DICK’S Sporting Goods Company Profile

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.