DICK’S Sporting Goods (NYSE:DKS) Trading Up 12.1% – Still a Buy?

DICK’S Sporting Goods, Inc. (NYSE:DKS) shares were up 12.1% during mid-day trading on Monday . The stock traded as high as $224.64 and last traded at $213.97. Approximately 850,957 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 1,165,913 shares. The stock had previously closed at $190.88.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DKS shares. Loop Capital decreased their target price on shares of DICK’S Sporting Goods from $240.00 to $195.00 and set a “hold” rating for the company in a research note on Thursday, March 13th. StockNews.com upgraded shares of DICK’S Sporting Goods from a “sell” rating to a “hold” rating in a research report on Friday. Stifel Nicolaus reduced their price objective on shares of DICK’S Sporting Goods from $226.00 to $192.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Morgan Stanley upped their price objective on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Barclays reduced their price objective on shares of DICK’S Sporting Goods from $254.00 to $223.00 and set an “overweight” rating for the company in a research report on Monday. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.89.

DICK’S Sporting Goods Trading Up 11.8%

The business’s 50-day moving average price is $193.20 and its 200-day moving average price is $211.58. 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 firm has a market capitalization of $17.04 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 2.47 and a beta of 1.16.

DICK’S Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping the consensus estimate of $3.47 by $0.15. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company 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 firm earned $3.85 EPS. The business’s revenue was up .5% on a year-over-year basis. As a group, analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The firm also recently announced 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 yield of 2.27%. The ex-dividend date was Friday, March 28th. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. DICK’S Sporting Goods’s dividend payout ratio is 34.54%.

DICK’S Sporting Goods declared that its board has authorized a share buyback program on Tuesday, March 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the sporting goods retailer to reacquire up to 18.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On DICK’S Sporting Goods

Institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in DICK’S Sporting Goods in the 4th quarter worth approximately $485,000. Marion Wealth Management purchased a new position in shares of DICK’S Sporting Goods during the 4th quarter valued at approximately $545,000. Argus Investors Counsel Inc. purchased a new position in shares of DICK’S Sporting Goods during the 4th quarter valued at approximately $257,000. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its stake in shares of DICK’S Sporting Goods by 78.2% during the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,495 shares of the sporting goods retailer’s stock valued at $2,631,000 after buying an additional 5,046 shares during the last quarter. Finally, Principal Securities Inc. boosted its stake in shares of DICK’S Sporting Goods by 11.8% during the 4th quarter. Principal Securities Inc. now owns 3,589 shares of the sporting goods retailer’s stock valued at $821,000 after buying an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Company Profile

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.