Equities research analysts at Off Wall Street began coverage on shares of Dick’s Sporting Goods Inc. (NYSE:DKS) in a research report issued to clients and investors on Thursday, The Fly reports. The firm set a “sell” rating on the sporting goods retailer’s stock.
Several other research firms also recently commented on DKS. Argus restated a “buy” rating on shares of Dick’s Sporting Goods in a report on Wednesday, June 15th. Stifel Nicolaus assumed coverage on shares of Dick’s Sporting Goods in a report on Friday, June 24th. They set a “buy” rating and a $50.00 price target for the company. Goldman Sachs Group Inc. upgraded shares of Dick’s Sporting Goods from a “buy” rating to a “conviction-buy” rating and set a $53.00 price target for the company in a report on Tuesday, June 28th. MKM Partners restated a “buy” rating and set a $55.00 price target on shares of Dick’s Sporting Goods in a report on Wednesday, June 29th. Finally, Canaccord Genuity restated a “buy” rating and set a $52.00 price target on shares of Dick’s Sporting Goods in a report on Thursday, June 30th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-one have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $58.91.
Dick’s Sporting Goods (NYSE:DKS) traded down 3.03% during mid-day trading on Thursday, reaching $57.34. The company’s stock had a trading volume of 1,273,321 shares. Dick’s Sporting Goods has a 52 week low of $33.42 and a 52 week high of $61.94. The firm has a 50-day moving average of $58.83 and a 200-day moving average of $48.96. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 20.08 and a beta of 0.83.
Dick’s Sporting Goods (NYSE:DKS) last posted its earnings results on Tuesday, August 16th. The sporting goods retailer reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.13. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.88 billion. Dick’s Sporting Goods had a net margin of 4.32% and a return on equity of 18.43%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 earnings per share. On average, equities research analysts expect that Dick’s Sporting Goods will post $3.06 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be given a dividend of $0.1513 per share. The ex-dividend date is Wednesday, September 7th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.02%. Dick’s Sporting Goods’s dividend payout ratio is 21.33%.
In other news, EVP Michele Willoughby sold 36,737 shares of Dick’s Sporting Goods stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $58.78, for a total transaction of $2,159,400.86. Following the transaction, the executive vice president now directly owns 98,923 shares of the company’s stock, valued at $5,814,693.94. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 22.96% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP purchased a new position in shares of Dick’s Sporting Goods during the first quarter worth $103,767,000. Norges Bank purchased a new position in shares of Dick’s Sporting Goods during the fourth quarter worth $35,091,000. TIAA CREF Investment Management LLC boosted its position in shares of Dick’s Sporting Goods by 76.4% in the first quarter. TIAA CREF Investment Management LLC now owns 1,584,265 shares of the sporting goods retailer’s stock worth $74,064,000 after buying an additional 686,073 shares in the last quarter. TimesSquare Capital Management LLC purchased a new position in shares of Dick’s Sporting Goods during the second quarter worth $23,666,000. Finally, GLG Partners LP purchased a new position in shares of Dick’s Sporting Goods during the second quarter worth $19,853,000. 72.16% of the stock is currently owned by institutional investors.
About Dick’s Sporting Goods
DICK’S Sporting Goods, Inc is an omni-channel sporting goods retailer offering an assortment of sports equipment, apparel, footwear and accessories in its specialty retail stores in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, as well as e-commerce Websites at www.DICKS.com, www.golfgalaxy.com, www.fieldandstreamshop.com and www.caliastudio.com.
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