DICK’S Sporting Goods’ (DKS) “Neutral” Rating Reiterated at Guggenheim

Guggenheim reaffirmed their neutral rating on shares of DICK’S Sporting Goods (NYSE:DKS) in a report published on Wednesday,Benzinga reports.

A number of other brokerages also recently commented on DKS. Citigroup restated a “neutral” rating and set a $220.00 price objective (down previously from $230.00) on shares of DICK’S Sporting Goods in a research report on Wednesday. Telsey Advisory Group restated an “outperform” rating and set a $260.00 target price on shares of DICK’S Sporting Goods in a report on Friday, March 7th. Stifel Nicolaus decreased their price target on shares of DICK’S Sporting Goods from $240.00 to $226.00 and set a “hold” rating on the stock in a research note on Wednesday. TD Cowen raised their target price on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Robert W. Baird decreased their target price on shares of DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $245.57.

DICK’S Sporting Goods Stock Up 4.4 %

Shares of DICK’S Sporting Goods stock opened at $194.74 on Wednesday. The firm has a market cap of $15.87 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 2.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. DICK’S Sporting Goods has a 1 year low of $182.84 and a 1 year high of $254.60. The company has a 50-day moving average of $228.59 and a 200 day moving average of $218.26.

DICK’S Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.15. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the business posted $3.85 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. As a group, sell-side analysts anticipate that DICK’S Sporting Goods will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods declared that its Board of Directors has initiated a share buyback program on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the sporting goods retailer to buy up to 18.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $1.2125 dividend. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 28th. This represents a $4.85 annualized dividend and a yield of 2.49%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is currently 31.45%.

Insiders Place Their Bets

In other news, Chairman Edward W. Stack sold 160,600 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the sale, the chairman now owns 8,362,128 shares in the company, valued at $1,917,017,844. This represents a 1.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $227.99, for a total value of $1,139,950.00. Following the transaction, the executive vice president now directly owns 16,504 shares in the company, valued at $3,762,746.96. The trade was a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,933 shares of company stock worth $39,655,456. Insiders own 32.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DKS. Greenleaf Trust grew its holdings in shares of DICK’S Sporting Goods by 3.0% during the 4th quarter. Greenleaf Trust now owns 1,721 shares of the sporting goods retailer’s stock worth $394,000 after purchasing an additional 50 shares in the last quarter. Independent Advisor Alliance grew its holdings in shares of DICK’S Sporting Goods by 5.4% during the 4th quarter. Independent Advisor Alliance now owns 1,026 shares of the sporting goods retailer’s stock worth $235,000 after purchasing an additional 53 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of DICK’S Sporting Goods by 1.7% during the 3rd quarter. CIBC Asset Management Inc now owns 3,232 shares of the sporting goods retailer’s stock worth $675,000 after purchasing an additional 54 shares in the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of DICK’S Sporting Goods by 2.2% during the 4th quarter. Atria Wealth Solutions Inc. now owns 2,521 shares of the sporting goods retailer’s stock worth $577,000 after purchasing an additional 54 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in shares of DICK’S Sporting Goods by 5.9% during the 4th quarter. EP Wealth Advisors LLC now owns 1,016 shares of the sporting goods retailer’s stock worth $232,000 after purchasing an additional 57 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

About DICK’S Sporting Goods

Dick’s Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.