Robert W. Baird Cuts DICK’S Sporting Goods (NYSE:DKS) Price Target to $230.00

DICK’S Sporting Goods (NYSE:DKS) had its target price trimmed by Robert W. Baird from $235.00 to $230.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the sporting goods retailer’s stock.

Several other research analysts also recently issued reports on the stock. UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $225.00 to $260.00 in a report on Wednesday, November 27th. Truist Financial increased their target price on DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Telsey Advisory Group reissued an “outperform” rating and set a $260.00 price target on shares of DICK’S Sporting Goods in a report on Friday, March 7th. Wedbush reaffirmed a “neutral” rating and set a $215.00 price objective on shares of DICK’S Sporting Goods in a research note on Thursday, March 6th. Finally, Loop Capital raised their price objective on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $245.57.

DICK’S Sporting Goods Price Performance

Shares of DICK’S Sporting Goods stock opened at $194.74 on Wednesday. The stock has a market capitalization of $15.87 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 2.47 and a beta of 1.53. DICK’S Sporting Goods has a 1-year low of $182.84 and a 1-year high of $254.60. 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 firm has a fifty day simple moving average of $228.59 and a 200-day simple moving average of $218.26.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.15. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the company posted $3.85 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. On average, sell-side analysts expect that DICK’S Sporting Goods will post 13.89 earnings per share for the current year.

DICK’S Sporting Goods declared that its board has authorized a stock buyback program on Tuesday, March 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the sporting goods retailer to purchase 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 stock is undervalued.

DICK’S Sporting Goods Increases Dividend

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

Insiders Place Their Bets

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of DICK’S Sporting Goods 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 sale, the executive vice president now owns 16,504 shares of the company’s stock, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the business’s stock in a transaction that occurred 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 sale, the chairman now owns 8,362,128 shares in the company, valued at $1,917,017,844. The trade was 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 over the last ninety days. 32.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DICK’S Sporting Goods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Park Square Financial Group LLC acquired a new stake in shares of DICK’S Sporting Goods in the fourth quarter valued at about $27,000. New Wave Wealth Advisors LLC acquired a new stake in DICK’S Sporting Goods in the fourth quarter valued at $28,000. Ancora Advisors LLC bought a new stake in shares of DICK’S Sporting Goods in the 4th quarter valued at about $28,000. Brooklyn Investment Group acquired a new stake in DICK’S Sporting Goods in the 3rd quarter valued at about $27,000. Finally, Rialto Wealth Management LLC bought a new position in DICK’S Sporting Goods during the fourth quarter worth about $30,000. 89.83% of the stock is currently 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.