Short Interest in DICK’S Sporting Goods, Inc. (NYSE:DKS) Increases By 7.3%

DICK’S Sporting Goods, Inc. (NYSE:DKS) saw a significant increase in short interest in December. As of December 31st, there was short interest totalling 5,170,000 shares, an increase of 7.3% from the December 15th total of 4,820,000 shares. Approximately 9.3% of the shares of the company are short sold. Based on an average trading volume of 1,070,000 shares, the days-to-cover ratio is currently 4.8 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wedbush reaffirmed a “neutral” rating and set a $215.00 price objective (down from $250.00) on shares of DICK’S Sporting Goods in a research report on Wednesday, November 27th. TD Cowen raised their price objective on DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. UBS Group raised shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their target price for the company from $225.00 to $260.00 in a report on Wednesday, November 27th. Loop Capital boosted their price objective on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Finally, Truist Financial upped their price objective on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $246.10.

Insider Activity at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the transaction, the chairman now directly owns 8,362,128 shares of the company’s stock, valued at approximately $1,917,017,844. The trade was a 1.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lawrence J. Schorr sold 7,333 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total value of $1,697,956.15. Following the completion of the transaction, the director now directly owns 50,997 shares of the company’s stock, valued at approximately $11,808,355.35. This trade represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 32.03% of the stock is owned by company insiders.

Institutional Trading of DICK’S Sporting Goods

Several institutional investors have recently made changes to their positions in the business. Holocene Advisors LP bought a new stake in DICK’S Sporting Goods in the third quarter valued at $70,562,000. KBC Group NV lifted its holdings in DICK’S Sporting Goods by 887.3% during the 3rd quarter. KBC Group NV now owns 250,374 shares of the sporting goods retailer’s stock valued at $52,253,000 after purchasing an additional 225,015 shares during the last quarter. International Assets Investment Management LLC grew its stake in DICK’S Sporting Goods by 19,851.3% during the third quarter. International Assets Investment Management LLC now owns 208,491 shares of the sporting goods retailer’s stock worth $43,512,000 after buying an additional 207,446 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of DICK’S Sporting Goods by 1,718.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 200,000 shares of the sporting goods retailer’s stock worth $41,740,000 after buying an additional 189,000 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in DICK’S Sporting Goods by 40.2% during the 2nd quarter. AQR Capital Management LLC now owns 545,045 shares of the sporting goods retailer’s stock worth $117,103,000 after acquiring an additional 156,227 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

DICK’S Sporting Goods Stock Performance

DICK’S Sporting Goods stock traded up $0.96 during mid-day trading on Monday, reaching $228.09. 1,054,586 shares of the company were exchanged, compared to its average volume of 906,565. The firm has a market cap of $18.58 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 2.62 and a beta of 1.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The firm’s 50-day simple moving average is $217.66 and its two-hundred day simple moving average is $213.64. DICK’S Sporting Goods has a twelve month low of $141.02 and a twelve month high of $239.30.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.07. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.03 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.85 EPS. Equities analysts predict that DICK’S Sporting Goods will post 13.88 earnings per share for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, December 13th. DICK’S Sporting Goods’s payout ratio is currently 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.