DICK'S Sporting Goods, Inc. (NYSE:DKS) Short Interest Update

DICK'S Sporting Goods, Inc. (NYSE:DKS - Get Free Report) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 4,730,000 shares, a growth of 27.5% from the May 15th total of 3,710,000 shares. Based on an average daily volume of 1,810,000 shares, the days-to-cover ratio is currently 2.6 days. Approximately 8.7% of the shares of the stock are sold short.

DICK'S Sporting Goods Trading Down 2.1%

NYSE DKS opened at $174.84 on Wednesday. The stock has a market capitalization of $14.00 billion, a P/E ratio of 12.51, a P/E/G ratio of 2.55 and a beta of 1.07. The firm has a 50-day moving average price of $184.50 and a 200 day moving average price of $207.74. DICK'S Sporting Goods has a 52-week low of $166.37 and a 52-week high of $254.60. The company has a quick ratio of 0.47, a current ratio of 1.62 and a debt-to-equity ratio of 0.49.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $3.37. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.12 billion. DICK'S Sporting Goods had a net margin of 8.49% and a return on equity of 38.06%. Equities research analysts expect that DICK'S Sporting Goods will post 13.89 EPS for the current year.

DICK'S Sporting Goods declared that its board has initiated a share buyback plan on Tuesday, March 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the sporting goods retailer to purchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

DICK'S Sporting Goods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Friday, June 13th. DICK'S Sporting Goods's payout ratio is currently 34.69%.

Institutional Investors Weigh In On DICK'S Sporting Goods

Several hedge funds have recently modified their holdings of DKS. Valeo Financial Advisors LLC grew its holdings in DICK'S Sporting Goods by 41.9% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,589 shares of the sporting goods retailer's stock valued at $364,000 after purchasing an additional 469 shares during the period. Principal Securities Inc. boosted its position in DICK'S Sporting Goods by 11.8% in 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. Principal Financial Group Inc. grew its stake in DICK'S Sporting Goods by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 187,068 shares of the sporting goods retailer's stock valued at $42,809,000 after purchasing an additional 4,491 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of DICK'S Sporting Goods by 2.4% during the fourth quarter. Sanctuary Advisors LLC now owns 49,506 shares of the sporting goods retailer's stock worth $12,378,000 after buying an additional 1,142 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS acquired a new position in DICK'S Sporting Goods during the 4th quarter worth $486,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on DKS. Wells Fargo & Company lifted their target price on shares of DICK'S Sporting Goods from $171.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Robert W. Baird decreased their target price on DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating for the company in a report on Friday, May 16th. UBS Group decreased their price target on shares of DICK'S Sporting Goods from $260.00 to $225.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Wedbush reaffirmed a "neutral" rating and set a $215.00 price objective on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Finally, Gordon Haskett downgraded shares of DICK'S Sporting Goods from a "buy" rating to a "reduce" rating and set a $170.00 target price on the stock. in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, DICK'S Sporting Goods presently has an average rating of "Hold" and an average target price of $220.11.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.