DICK’S Sporting Goods, Inc. (DKS) to Issue Quarterly Dividend of $1.10 on October 4th

DICK’S Sporting Goods, Inc. (NYSE:DKS) declared a quarterly dividend on Tuesday, September 3rd, Zacks reports. Investors of record on Friday, September 20th will be paid a dividend of 1.10 per share by the sporting goods retailer on Friday, October 4th. This represents a $4.40 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Thursday, September 19th.

DICK’S Sporting Goods has raised its dividend by an average of 47.4% annually over the last three years. DICK’S Sporting Goods has a dividend payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect DICK’S Sporting Goods to earn $14.78 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 29.8%.

DICK’S Sporting Goods Price Performance

Shares of DKS opened at $212.33 on Tuesday. The company has a market cap of $17.30 billion, a P/E ratio of 17.58, a PEG ratio of 2.39 and a beta of 1.64. The stock has a fifty day moving average price of $215.46 and a 200 day moving average price of $209.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 0.69. DICK’S Sporting Goods has a 12 month low of $100.98 and a 12 month high of $239.30.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings data on Wednesday, September 4th. The sporting goods retailer reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.60. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.44 billion. DICK’S Sporting Goods had a return on equity of 45.14% and a net margin of 8.46%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.82 EPS. On average, research analysts forecast that DICK’S Sporting Goods will post 13.89 earnings per share for the current year.

Insider Activity

In other news, Director Desiree Ralls-Morrison sold 3,489 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $206.65, for a total transaction of $721,001.85. Following the completion of the sale, 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 document filed with the SEC, which is available at the SEC website. 32.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DKS. Robert W. Baird reissued a “neutral” rating and issued a $235.00 price target on shares of DICK’S Sporting Goods in a research note on Wednesday, August 28th. Wells Fargo & Company decreased their price target on DICK’S Sporting Goods from $230.00 to $227.00 and set an “equal weight” rating for the company in a research note on Monday, August 12th. Truist Financial increased their price target on DICK’S Sporting Goods from $243.00 to $256.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. UBS Group increased their price target 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. Finally, Barclays increased 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, September 5th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $244.62.

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.