DICK'S Sporting Goods (NYSE:DKS) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• DICK'S Sporting Goods beat quarterly expectations, reporting EPS of $2.90 versus the $2.87 consensus estimate. Revenue also came in ahead of forecasts at $5.16 billion compared with $5.07 billion expected.
• The company raised its quarterly dividend to $1.25 per share from $1.21, implying a $5.00 annualized payout and a 2.1% yield. The dividend payout ratio was 48.92%.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $246.72. Recent commentary included upgrades and reiterated buy ratings, though a few firms trimmed targets or stayed neutral.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) issued its quarterly earnings data on Wednesday. The sporting goods retailer reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.03, FiscalAI reports. The firm had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.07 billion. DICK'S Sporting Goods had a net margin of 4.93% and a return on equity of 27.12%.

DICK'S Sporting Goods Price Performance

Shares of DKS stock opened at $235.40 on Wednesday. DICK'S Sporting Goods has a 12 month low of $168.79 and a 12 month high of $237.75. The company has a market capitalization of $20.96 billion, a P/E ratio of 23.03, a P/E/G ratio of 3.29 and a beta of 1.21. The company has a current ratio of 1.53, a quick ratio of 0.47 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average of $211.59 and a two-hundred day moving average of $209.65.

DICK'S Sporting Goods Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were given a $1.25 dividend. The ex-dividend date was Friday, March 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.21. DICK'S Sporting Goods's dividend payout ratio is 48.92%.

Insider Activity at DICK'S Sporting Goods

In other news, EVP Julie Lodge-Jarrett sold 4,140 shares of the company's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $223.56, for a total value of $925,538.40. Following the sale, the executive vice president directly owned 24,757 shares in the company, valued at approximately $5,534,674.92. This represents a 14.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Edward W. Stack sold 210,478 shares of the business's stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $197.69, for a total transaction of $41,609,395.82. Following the completion of the sale, the chairman owned 6,549,026 shares in the company, valued at $1,294,676,949.94. This represents a 3.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 28.91% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DKS. Jacobi Capital Management LLC increased its stake in shares of DICK'S Sporting Goods by 4.5% in the fourth quarter. Jacobi Capital Management LLC now owns 1,189 shares of the sporting goods retailer's stock valued at $235,000 after buying an additional 51 shares in the last quarter. Lido Advisors LLC grew its stake in shares of DICK'S Sporting Goods by 3.9% during the third quarter. Lido Advisors LLC now owns 1,358 shares of the sporting goods retailer's stock valued at $302,000 after purchasing an additional 51 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of DICK'S Sporting Goods by 5.9% during the fourth quarter. Parallel Advisors LLC now owns 980 shares of the sporting goods retailer's stock valued at $194,000 after purchasing an additional 55 shares during the last quarter. Vident Advisory LLC grew its stake in shares of DICK'S Sporting Goods by 2.5% during the fourth quarter. Vident Advisory LLC now owns 2,480 shares of the sporting goods retailer's stock valued at $491,000 after purchasing an additional 60 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of DICK'S Sporting Goods by 13.7% during the fourth quarter. UMB Bank n.a. now owns 721 shares of the sporting goods retailer's stock valued at $143,000 after purchasing an additional 87 shares during the last quarter. Institutional investors own 89.83% of the company's stock.

Analyst Ratings Changes

DKS has been the topic of several analyst reports. Weiss Ratings raised shares of DICK'S Sporting Goods from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, May 7th. UBS Group reaffirmed a "buy" rating on shares of DICK'S Sporting Goods in a research report on Tuesday, March 3rd. BTIG Research reissued a "buy" rating and set a $300.00 target price on shares of DICK'S Sporting Goods in a research report on Wednesday, May 13th. Morgan Stanley cut their target price on shares of DICK'S Sporting Goods from $260.00 to $250.00 and set an "overweight" rating for the company in a research report on Friday, March 13th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $210.00 price target on shares of DICK'S Sporting Goods in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, DICK'S Sporting Goods presently has an average rating of "Moderate Buy" and a consensus price target of $246.72.

DICK'S Sporting Goods Company Profile

DICK'S Sporting Goods is a leading U.S.-based sporting goods retailer that sells a broad range of sports equipment, apparel, footwear and outdoor gear. The company operates an omnichannel business combining physical stores with digital sales, offering products for team sports, fitness, hunting and fishing, golf, and general active lifestyle categories. In addition to its flagship DICK'S stores, the company operates specialty formats such as Golf Galaxy and branded service offerings including team-sports sales and custom equipment solutions.

The company traces its roots to a single sporting goods outlet founded in 1948 and has since grown into a national retail chain serving customers across the United States.

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