DICK'S Sporting Goods, Inc. (NYSE:DKS) Declares Quarterly Dividend of $1.21

DICK'S Sporting Goods, Inc. (NYSE:DKS - Get Free Report) announced a quarterly dividend on Thursday, May 29th, Wall Street Journal reports. Stockholders of record on Friday, June 13th will be given a dividend of 1.2125 per share by the sporting goods retailer on Friday, June 27th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, June 13th.

DICK'S Sporting Goods has increased its dividend by an average of 40.1% annually over the last three years and has raised its dividend every year for the last 11 years. DICK'S Sporting Goods has a payout ratio of 32.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect DICK'S Sporting Goods to earn $14.79 per share next year, which means the company should continue to be able to cover its $4.85 annual dividend with an expected future payout ratio of 32.8%.

DICK'S Sporting Goods Stock Performance

DKS traded down $3.08 on Monday, reaching $176.26. The company had a trading volume of 1,751,024 shares, compared to its average volume of 1,250,641. The stock has a market cap of $14.08 billion, a P/E ratio of 12.60, a P/E/G ratio of 2.47 and a beta of 1.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. DICK'S Sporting Goods has a fifty-two week low of $166.37 and a fifty-two week high of $254.60. The company's fifty day moving average is $187.90 and its 200 day moving average is $209.97.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share for the quarter, hitting analysts' consensus estimates of $3.37. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.12 billion. As a group, analysts predict that DICK'S Sporting Goods will post 13.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price target on DICK'S Sporting Goods from $224.00 to $195.00 and set a "neutral" rating for the company in a research note on Thursday. Truist Financial set a $230.00 target price on DICK'S Sporting Goods in a report on Wednesday. Barclays boosted their price target on DICK'S Sporting Goods from $217.00 to $232.00 and gave the company an "overweight" rating in a research note on Thursday. Gordon Haskett downgraded shares of DICK'S Sporting Goods from a "buy" rating to a "reduce" rating and set a $170.00 price objective on the stock. in a research note on Friday, May 16th. Finally, TD Cowen downgraded shares of DICK'S Sporting Goods from a "buy" rating to a "hold" rating and set a $216.00 price target for the company. in a report on Thursday, May 15th. One investment 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's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $220.11.

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

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.