DICK’S Sporting Goods (NYSE:DKS) Stock Rating Lowered by Gordon Haskett

Gordon Haskett lowered shares of DICK’S Sporting Goods (NYSE:DKS) from a buy rating to a reduce rating in a research report report published on Friday, Marketbeat reports. The firm currently has $170.00 price target on the sporting goods retailer’s stock.

Several other research analysts have also issued reports on the company. Wedbush reiterated a “neutral” rating and issued a $215.00 price target on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Wells Fargo & Company increased their price target on DICK’S Sporting Goods from $171.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday. Argus increased their price target on DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Citigroup reiterated a “neutral” rating and issued a $220.00 price target (down previously from $230.00) on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. Finally, Morgan Stanley increased their price target on DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, DICK’S Sporting Goods presently has an average rating of “Hold” and a consensus price target of $229.79.

DICK’S Sporting Goods Stock Up 2.8%

Shares of DICK’S Sporting Goods stock opened at $184.01 on Friday. DICK’S Sporting Goods has a one year low of $166.37 and a one year high of $254.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The stock’s 50-day moving average is $192.01 and its 200 day moving average is $211.32. The firm has a market cap of $14.69 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 2.47 and a beta of 1.16.

DICK’S Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, beating the consensus estimate 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 company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the company earned $3.85 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts anticipate that DICK’S Sporting Goods will post 13.89 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.64%. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date was Friday, March 28th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 34.54%.

DICK’S Sporting Goods announced that its Board of Directors has approved a share buyback plan on Tuesday, March 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Institutional Trading of DICK’S Sporting Goods

A number of institutional investors and hedge funds have recently modified their holdings of DKS. Wealthfront Advisers LLC purchased a new stake in shares of DICK’S Sporting Goods during the fourth quarter valued at approximately $1,893,210,000. Wellington Management Group LLP increased its position in shares of DICK’S Sporting Goods by 416.9% during the first quarter. Wellington Management Group LLP now owns 2,829,780 shares of the sporting goods retailer’s stock valued at $570,370,000 after acquiring an additional 2,282,300 shares during the last quarter. Norges Bank purchased a new stake in shares of DICK’S Sporting Goods during the fourth quarter valued at approximately $221,693,000. Westfield Capital Management Co. LP increased its position in shares of DICK’S Sporting Goods by 1,899.2% during the first quarter. Westfield Capital Management Co. LP now owns 630,566 shares of the sporting goods retailer’s stock valued at $127,097,000 after acquiring an additional 599,025 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of DICK’S Sporting Goods by 8.8% during the first quarter. Vanguard Group Inc. now owns 5,850,223 shares of the sporting goods retailer’s stock valued at $1,179,171,000 after acquiring an additional 471,217 shares during the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

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.