DICK'S Sporting Goods (NYSE:DKS) Sets New 1-Year Low After Analyst Downgrade

DICK'S Sporting Goods, Inc. (NYSE:DKS - Get Free Report) reached a new 52-week low on Thursday after Stifel Nicolaus lowered their price target on the stock from $226.00 to $192.00. Stifel Nicolaus currently has a hold rating on the stock. DICK'S Sporting Goods traded as low as $166.37 and last traded at $198.36, with a volume of 3156191 shares trading hands. The stock had previously closed at $171.20.

DKS has been the subject of a number of other reports. Telsey Advisory Group reissued an "outperform" rating and set a $250.00 price target on shares of DICK'S Sporting Goods in a research report on Friday, March 14th. Truist Financial set a $245.00 target price on shares of DICK'S Sporting Goods in a report on Tuesday, March 11th. DA Davidson cut their price target on DICK'S Sporting Goods from $280.00 to $273.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. TD Cowen lifted their price objective on DICK'S Sporting Goods from $270.00 to $294.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Finally, Citigroup reissued a "neutral" rating and issued a $220.00 target price (down from $230.00) on shares of DICK'S Sporting Goods in a research note on Wednesday, March 12th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $244.72.

Insider Buying and Selling

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $227.99, for a total transaction of $1,139,950.00. Following the completion of the sale, the executive vice president now owns 16,504 shares in the company, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 32.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DICK'S Sporting Goods

A number of institutional investors have recently added to or reduced their stakes in DKS. Handelsbanken Fonder AB grew its position in shares of DICK'S Sporting Goods by 18.6% during the first quarter. Handelsbanken Fonder AB now owns 17,200 shares of the sporting goods retailer's stock valued at $3,467,000 after purchasing an additional 2,700 shares in the last quarter. GAMMA Investing LLC increased its position in DICK'S Sporting Goods by 20.3% in the first quarter. GAMMA Investing LLC now owns 1,448 shares of the sporting goods retailer's stock worth $292,000 after purchasing an additional 244 shares during the last quarter. Yousif Capital Management LLC raised its stake in DICK'S Sporting Goods by 36.7% during the first quarter. Yousif Capital Management LLC now owns 20,907 shares of the sporting goods retailer's stock valued at $4,214,000 after purchasing an additional 5,618 shares in the last quarter. Farther Finance Advisors LLC lifted its position in DICK'S Sporting Goods by 12.3% during the first quarter. Farther Finance Advisors LLC now owns 2,012 shares of the sporting goods retailer's stock valued at $415,000 after purchasing an additional 220 shares during the last quarter. Finally, Range Financial Group LLC increased its holdings in shares of DICK'S Sporting Goods by 3.1% in the 1st quarter. Range Financial Group LLC now owns 8,997 shares of the sporting goods retailer's stock worth $1,813,000 after buying an additional 270 shares during the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

DICK'S Sporting Goods Stock Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The business's fifty day moving average price is $209.64 and its two-hundred day moving average price is $214.39. The stock has a market capitalization of $14.83 billion, a P/E ratio of 13.27, a P/E/G ratio of 2.47 and a beta of 1.32.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.15. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The firm had revenue of $3.89 billion during the quarter, compared to analysts' expectations of $3.76 billion. The company's quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.85 EPS. As a group, sell-side analysts forecast that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $1.2125 per share. This represents a $4.85 annualized dividend and a yield of 2.61%. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Friday, March 28th. DICK'S Sporting Goods's dividend payout ratio is presently 34.54%.

DICK'S Sporting Goods announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the sporting goods retailer to reacquire up to 18.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are 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.