DICK’S Sporting Goods, Inc. (NYSE:DKS) Announces Dividend Increase – $1.21 Per Share

DICK’S Sporting Goods, Inc. (NYSE:DKS) announced a quarterly dividend on Tuesday, March 11th, RTT News reports. Stockholders of record on Friday, March 28th will be given a dividend of 1.2125 per share by the sporting goods retailer on Friday, April 11th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.29%. This is a 10.2% increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10.

DICK’S Sporting Goods has increased its dividend payment by an average of 40.1% annually over the last three years. DICK’S Sporting Goods has a payout ratio of 27.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect DICK’S Sporting Goods to earn $14.79 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 29.7%.

DICK’S Sporting Goods Stock Down 1.4 %

Shares of DICK’S Sporting Goods stock opened at $211.36 on Tuesday. DICK’S Sporting Goods has a twelve month low of $178.21 and a twelve month high of $254.60. The stock has a market cap of $17.22 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. 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 fifty day moving average price of $231.36 and a 200 day moving average price of $219.22.

DICK’S Sporting Goods (NYSE:DKS) last posted its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.15. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.85 earnings per share. Equities research analysts forecast that DICK’S Sporting Goods will post 13.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Truist Financial boosted their target price on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Loop Capital increased their price target on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Argus raised their price objective on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Wedbush reaffirmed a “neutral” rating and set a $215.00 price target on shares of DICK’S Sporting Goods in a research report on Thursday, March 6th. Finally, TD Cowen lifted their price target on DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $248.09.

Insider Activity at DICK’S Sporting Goods

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the sale, the executive vice president now directly owns 16,504 shares of the company’s stock, valued at $3,762,746.96. This represents a 23.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of the company’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 completion of the transaction, the chairman now directly owns 8,362,128 shares in the company, valued at $1,917,017,844. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 172,933 shares of company stock worth $39,655,456 in the last 90 days. Corporate insiders own 32.03% of the company’s stock.

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.