DICK'S Sporting Goods (NYSE:DKS) Rating Increased to Buy at Citigroup

Key Points

• DICK'S Sporting Goods has been upgraded to a Buy rating by Citigroup, with a new target price set at $280.00, indicating a potential upside of 25.23% from its previous close.
• The company reported a quarterly earnings per share (EPS) of $4.38, surpassing the consensus estimate of $4.30, along with a net margin of 8.52% and a revenue of $3.65 billion.
• Insider sales included EVP Julie Lodge-Jarrett selling 3,541 shares and CEO Lauren R. Hobart selling 40,166 shares, representing decreases in their positions by 15.59% and 11.81%, respectively.

Citigroup upgraded shares of DICK'S Sporting Goods (NYSE:DKS - Free Report) from a neutral rating to a buy rating in a report published on Tuesday morning, MarketBeat reports. The firm currently has $280.00 price objective on the sporting goods retailer's stock, up from their prior price objective of $225.00.

A number of other equities analysts have also commented on the stock. Truist Financial boosted their price objective on shares of DICK'S Sporting Goods from $230.00 to $248.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Robert W. Baird reduced their price target on shares of DICK'S Sporting Goods from $230.00 to $185.00 and set a "neutral" rating for the company in a research report on Friday, May 16th. DA Davidson set a $250.00 price target on shares of DICK'S Sporting Goods in a research note on Friday, August 29th. Loop Capital set a $215.00 price objective on shares of DICK'S Sporting Goods and gave the stock a "hold" rating in a report on Wednesday, July 30th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $255.00 price target on shares of DICK'S Sporting Goods in a report on Monday. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, DICK'S Sporting Goods presently has an average rating of "Moderate Buy" and a consensus target price of $235.83.

DICK'S Sporting Goods Stock Down 4.1%

DICK'S Sporting Goods stock traded down $9.37 during midday trading on Tuesday, reaching $221.57. The company's stock had a trading volume of 1,850,532 shares, compared to its average volume of 1,576,102. The business has a 50-day simple moving average of $216.30 and a 200-day simple moving average of $199.89. The company has a market cap of $17.75 billion, a P/E ratio of 15.47, a P/E/G ratio of 3.25 and a beta of 1.02. DICK'S Sporting Goods has a fifty-two week low of $166.37 and a fifty-two week high of $254.60. The company has a quick ratio of 0.55, a current ratio of 1.70 and a debt-to-equity ratio of 0.44.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its quarterly earnings results on Thursday, August 28th. The sporting goods retailer reported $4.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.30 by $0.08. DICK'S Sporting Goods had a return on equity of 36.54% and a net margin of 8.52%.The firm had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the company posted $4.37 earnings per share. The business's revenue was up 5.0% on a year-over-year basis. DICK'S Sporting Goods has set its FY 2025 guidance at 13.900-14.500 EPS. On average, research analysts expect that DICK'S Sporting Goods will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, September 12th. DICK'S Sporting Goods's dividend payout ratio (DPR) is 33.87%.

Insider Activity

In related news, SVP Elizabeth H. Baran sold 1,830 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $204.65, for a total value of $374,509.50. Following the sale, the senior vice president directly owned 12,465 shares of the company's stock, valued at $2,550,962.25. This trade represents a 12.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Julie Lodge-Jarrett sold 3,541 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $187.00, for a total transaction of $662,167.00. Following the sale, the executive vice president directly owned 19,165 shares of the company's stock, valued at $3,583,855. This trade represents a 15.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,200 shares of company stock valued at $14,462,923. Company insiders own 32.55% of the company's stock.

Institutional Investors Weigh In On DICK'S Sporting Goods

Several institutional investors and hedge funds have recently made changes to their positions in DKS. Bessemer Group Inc. raised its position in shares of DICK'S Sporting Goods by 49.3% during the 1st quarter. Bessemer Group Inc. now owns 218 shares of the sporting goods retailer's stock worth $44,000 after purchasing an additional 72 shares during the last quarter. Fifth Third Bancorp increased its stake in DICK'S Sporting Goods by 27.5% in the first quarter. Fifth Third Bancorp now owns 968 shares of the sporting goods retailer's stock valued at $195,000 after purchasing an additional 209 shares during the period. NBC Securities Inc. acquired a new position in shares of DICK'S Sporting Goods during the first quarter worth about $54,000. Janus Henderson Group PLC grew its position in DICK'S Sporting Goods by 15.9% during the fourth quarter. Janus Henderson Group PLC now owns 11,640 shares of the sporting goods retailer's stock worth $2,664,000 after buying an additional 1,594 shares during the period. Finally, OneDigital Investment Advisors LLC purchased a new stake in shares of DICK'S Sporting Goods in the first quarter valued at about $214,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

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.