Short Interest in DICK’S Sporting Goods, Inc. (NYSE:DKS) Increases By 19.6%

DICK’S Sporting Goods, Inc. (NYSE:DKS) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 4,820,000 shares, a growth of 19.6% from the November 30th total of 4,030,000 shares. Approximately 8.6% of the shares of the stock are sold short. Based on an average daily volume of 1,060,000 shares, the days-to-cover ratio is presently 4.5 days.

Institutional Investors Weigh In On DICK’S Sporting Goods

Institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of DICK’S Sporting Goods by 5.5% during the second quarter. Principal Financial Group Inc. now owns 239,451 shares of the sporting goods retailer’s stock worth $51,446,000 after purchasing an additional 12,396 shares during the last quarter. Kerusso Capital Management LLC purchased a new position in shares of DICK’S Sporting Goods during the 3rd quarter valued at about $1,554,000. National Pension Service purchased a new position in shares of DICK’S Sporting Goods during the 3rd quarter valued at about $4,195,000. Strategy Asset Managers LLC acquired a new position in shares of DICK’S Sporting Goods in the 3rd quarter valued at about $4,325,000. Finally, Landscape Capital Management L.L.C. boosted its stake in shares of DICK’S Sporting Goods by 402.9% in the third quarter. Landscape Capital Management L.L.C. now owns 15,344 shares of the sporting goods retailer’s stock worth $3,202,000 after buying an additional 12,293 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

DKS has been the subject of a number of recent research reports. Truist Financial lifted their price objective on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. UBS Group upgraded DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and upped their price objective for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Bank of America lifted their target price on DICK’S Sporting Goods from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. DA Davidson restated a “buy” rating and issued a $265.00 price target on shares of DICK’S Sporting Goods in a research report on Thursday, September 5th. Finally, TD Cowen boosted their price objective on shares of DICK’S Sporting Goods from $266.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, DICK’S Sporting Goods has an average rating of “Moderate Buy” and a consensus target price of $244.95.

DICK’S Sporting Goods Stock Down 0.4 %

Shares of DKS stock traded down $0.98 during trading hours on Friday, reaching $234.07. 720,277 shares of the company’s stock were exchanged, compared to its average volume of 1,104,324. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The company has a market cap of $19.07 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 2.52 and a beta of 1.61. DICK’S Sporting Goods has a fifty-two week low of $137.06 and a fifty-two week high of $239.30. The stock’s 50 day moving average is $209.71 and its 200-day moving average is $212.78.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.07. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.03 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.85 earnings per share. Analysts predict that DICK’S Sporting Goods will post 13.88 earnings per share for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.40 annualized dividend and a yield of 1.88%. DICK’S Sporting Goods’s payout ratio is presently 31.45%.

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.