Monness Crespi & Hardt reiterated their buy rating on shares of Dick’s Sporting Goods Inc (NYSE:DKS) in a report published on Wednesday, May 17th, MarketBeat Ratings reports. They currently have a $52.00 price target on the sporting goods retailer’s stock, down from their prior price target of $60.00.
DKS has been the topic of a number of other research reports. MKM Partners reaffirmed a buy rating and set a $67.00 price objective on shares of Dick’s Sporting Goods in a research report on Tuesday, March 7th. Credit Suisse Group set a $55.00 target price on Dick’s Sporting Goods and gave the company a hold rating in a report on Wednesday, March 8th. B. Riley reissued a buy rating and issued a $64.00 target price on shares of Dick’s Sporting Goods in a report on Friday, May 12th. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Dick’s Sporting Goods in a report on Saturday, May 13th. Finally, Wolfe Research raised Dick’s Sporting Goods from a peer perform rating to an outperform rating and set a $59.00 target price on the stock in a report on Tuesday, March 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $57.91.
Dick’s Sporting Goods (DKS) traded down 1.70% during midday trading on Wednesday, hitting $39.99. The company had a trading volume of 2,235,574 shares. Dick’s Sporting Goods has a 52 week low of $38.30 and a 52 week high of $62.88. The company has a market capitalization of $4.50 billion, a P/E ratio of 15.49 and a beta of 0.49. The stock has a 50 day moving average price of $44.09 and a 200 day moving average price of $50.08.
Dick’s Sporting Goods (NYSE:DKS) last posted its quarterly earnings data on Tuesday, May 16th. The sporting goods retailer reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. Dick’s Sporting Goods had a return on equity of 18.61% and a net margin of 3.57%. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the company earned $0.50 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. Equities analysts forecast that Dick’s Sporting Goods will post $3.69 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 9th will be paid a dividend of $0.17 per share. The ex-dividend date is Wednesday, June 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.70%. Dick’s Sporting Goods’s dividend payout ratio (DPR) is 26.25%.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Dick’s Sporting Goods by 2,879.3% in the first quarter. BlackRock Inc. now owns 8,515,919 shares of the sporting goods retailer’s stock worth $414,382,000 after buying an additional 8,230,087 shares during the period. Vanguard Group Inc. boosted its position in shares of Dick’s Sporting Goods by 4.4% in the first quarter. Vanguard Group Inc. now owns 6,666,349 shares of the sporting goods retailer’s stock worth $324,384,000 after buying an additional 280,056 shares during the period. State Street Corp boosted its position in shares of Dick’s Sporting Goods by 2.2% in the first quarter. State Street Corp now owns 3,244,995 shares of the sporting goods retailer’s stock worth $157,904,000 after buying an additional 69,237 shares during the period. Renaissance Technologies LLC boosted its position in shares of Dick’s Sporting Goods by 424.3% in the first quarter. Renaissance Technologies LLC now owns 2,054,600 shares of the sporting goods retailer’s stock worth $99,977,000 after buying an additional 1,662,700 shares during the period. Finally, OZ Management LP acquired a new position in shares of Dick’s Sporting Goods during the first quarter worth $86,412,000. 79.75% of the stock is owned by institutional investors and hedge funds.
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 primarily in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, and Dick’s Team Sports HQ, an all-in-one youth sports digital platform offering free league management services, mobile applications for scheduling, communications and live scorekeeping, custom uniforms and FanWear and access to donations and sponsorships.
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