Bank of America Lowers DICK’S Sporting Goods (NYSE:DKS) Price Target to $240.00

DICK’S Sporting Goods (NYSE:DKS) had its price objective lowered by Bank of America from $250.00 to $240.00 in a report issued on Tuesday morning,Benzinga reports. Bank of America currently has a buy rating on the sporting goods retailer’s stock.

A number of other research analysts have also recently weighed in on DKS. Guggenheim restated a “neutral” rating on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. TD Cowen cut shares of DICK’S Sporting Goods from a “buy” rating to a “hold” rating and set a $216.00 target price for the company. in a research report on Thursday, May 15th. Barclays upped their price target on shares of DICK’S Sporting Goods from $217.00 to $232.00 and gave the company an “overweight” rating in a report on Thursday, May 29th. Gordon Haskett cut shares of DICK’S Sporting Goods from a “buy” rating to a “reduce” rating and set a $170.00 price objective for the company. in a research note on Friday, May 16th. Finally, DA Davidson dropped their price objective on shares of DICK’S Sporting Goods from $273.00 to $230.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $219.56.

DICK’S Sporting Goods Trading Up 5.8%

Shares of DICK’S Sporting Goods stock opened at $196.38 on Tuesday. DICK’S Sporting Goods has a 12-month low of $166.37 and a 12-month high of $254.60. The company has a current ratio of 1.62, a quick ratio of 0.47 and a debt-to-equity ratio of 0.49. The stock has a market cap of $15.72 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 2.65 and a beta of 1.07. The company has a 50-day moving average of $183.47 and a two-hundred day moving average of $206.18.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share for the quarter, meeting the consensus estimate of $3.37. DICK’S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.12 billion. On average, research analysts anticipate that DICK’S Sporting Goods will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $1.2125 dividend. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, June 13th. DICK’S Sporting Goods’s dividend payout ratio is currently 34.69%.

DICK’S Sporting Goods announced that its Board of Directors has approved 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 usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On DICK’S Sporting Goods

A number of hedge funds and other institutional investors have recently made changes to their positions in DKS. XTX Topco Ltd purchased a new stake in DICK’S Sporting Goods in the 4th quarter valued at about $485,000. Fifth Third Bancorp grew its holdings 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. purchased a new stake in DICK’S Sporting Goods in the first quarter valued at approximately $54,000. Janus Henderson Group PLC grew its holdings in DICK’S Sporting Goods by 15.9% in the fourth quarter. Janus Henderson Group PLC now owns 11,640 shares of the sporting goods retailer’s stock valued at $2,664,000 after purchasing an additional 1,594 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in DICK’S Sporting Goods by 15.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,144 shares of the sporting goods retailer’s stock valued at $491,000 after purchasing an additional 281 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

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.