Short Interest in DICK’S Sporting Goods, Inc. (NYSE:DKS) Increases By 9.3%

DICK’S Sporting Goods, Inc. (NYSE:DKS) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 4,600,000 shares, an increase of 9.3% from the January 15th total of 4,210,000 shares. Based on an average daily trading volume, of 1,190,000 shares, the days-to-cover ratio is presently 3.9 days. Approximately 8.3% of the company’s shares are short sold.

DICK’S Sporting Goods Stock Performance

DKS stock traded down $4.63 during trading on Friday, hitting $237.98. The company had a trading volume of 860,970 shares, compared to its average volume of 1,028,015. The firm has a market cap of $19.39 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 2.57 and a beta of 1.57. DICK’S Sporting Goods has a 1-year low of $165.31 and a 1-year high of $254.60. The firm has a 50-day moving average price of $231.62 and a 200-day moving average price of $218.15. The company has a quick ratio of 0.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.48.

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 (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.07. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.85 EPS. On average, analysts expect that DICK’S Sporting Goods will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Friday, December 13th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 31.45%.

Wall Street Analyst Weigh In

DKS has been the subject of a number of research reports. Loop Capital lifted their price objective on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Morgan Stanley lifted their price objective on DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Truist Financial lifted their price objective on 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. Wedbush reaffirmed a “neutral” rating and issued a $215.00 price objective (down from $250.00) on shares of DICK’S Sporting Goods in a research note on Wednesday, November 27th. Finally, Argus boosted their target price on DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.09.

Insider Buying and Selling

In other DICK’S Sporting Goods news, Chairman Edward W. Stack sold 160,600 shares of the firm’s stock in a transaction 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 completion of the sale, the chairman now owns 8,362,128 shares of the company’s stock, valued at $1,917,017,844. This trade represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lawrence J. Schorr sold 7,333 shares of the firm’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 sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DICK’S Sporting Goods

Institutional investors have recently added to or reduced their stakes in the stock. Wealthfront Advisers LLC acquired a new position in DICK’S Sporting Goods during the 4th quarter worth approximately $1,893,210,000. Norges Bank acquired a new position in DICK’S Sporting Goods during the 4th quarter worth approximately $221,693,000. Wellington Management Group LLP acquired a new position in DICK’S Sporting Goods during the 4th quarter worth approximately $125,285,000. Holocene Advisors LP acquired a new position in DICK’S Sporting Goods during the 3rd quarter worth approximately $70,562,000. Finally, KBC Group NV increased its position 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 worth $52,253,000 after purchasing an additional 225,015 shares during the period. Institutional investors and hedge funds own 89.83% 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.