Shares of Dicks Sporting Goods Inc (NYSE:DKS) dropped 11% during mid-day trading on Tuesday . The stock traded as low as $34.10 and last traded at $34.61. Approximately 15,179,637 shares changed hands during mid-day trading, an increase of 616% from the average daily volume of 2,119,803 shares. The stock had previously closed at $38.89.
DKS has been the topic of several research reports. Citigroup lowered Dicks Sporting Goods from a “buy” rating to a “neutral” rating and set a $40.00 target price on the stock. in a research note on Monday, December 3rd. JPMorgan Chase & Co. lowered Dicks Sporting Goods from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $46.00 to $41.00 in a research note on Thursday, November 29th. Argus boosted their price objective on Dicks Sporting Goods from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 11th. Canaccord Genuity set a $54.00 price objective on Dicks Sporting Goods and gave the company a “buy” rating in a research note on Thursday, December 20th. Finally, ValuEngine upgraded Dicks Sporting Goods from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Dicks Sporting Goods has a consensus rating of “Hold” and an average price target of $41.11.
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The company has a debt-to-equity ratio of 0.24, a current ratio of 1.61 and a quick ratio of 0.19. The company has a market cap of $3.82 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.80 and a beta of 0.54.
Dicks Sporting Goods (NYSE:DKS) last posted its earnings results on Tuesday, March 12th. The sporting goods retailer reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.01. Dicks Sporting Goods had a return on equity of 18.10% and a net margin of 3.87%. The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.48 billion. During the same period in the previous year, the business earned $1.22 earnings per share. The firm’s revenue was down 5.7% on a year-over-year basis. On average, equities analysts expect that Dicks Sporting Goods Inc will post 3.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.18%. This is a boost from Dicks Sporting Goods’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, March 14th. Dicks Sporting Goods’s payout ratio is presently 29.90%.
A number of institutional investors have recently bought and sold shares of DKS. Oregon Public Employees Retirement Fund grew its position in Dicks Sporting Goods by 2,975.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 945,235 shares of the sporting goods retailer’s stock worth $30,000 after buying an additional 914,503 shares in the last quarter. Nkcfo LLC purchased a new position in Dicks Sporting Goods during the fourth quarter worth about $31,000. Bremer Trust National Association purchased a new position in Dicks Sporting Goods during the fourth quarter worth about $36,000. Huntington National Bank grew its position in Dicks Sporting Goods by 36.8% during the fourth quarter. Huntington National Bank now owns 1,779 shares of the sporting goods retailer’s stock worth $56,000 after buying an additional 479 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in Dicks Sporting Goods by 35.3% during the fourth quarter. Acadian Asset Management LLC now owns 2,839 shares of the sporting goods retailer’s stock worth $88,000 after buying an additional 741 shares in the last quarter. Institutional investors and hedge funds own 80.04% of the company’s stock.
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Dicks Sporting Goods Company Profile (NYSE:DKS)
Dick's Sporting Goods, Inc operates as a sporting goods retailer primarily in the eastern United States. It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories. The company also owns and operates Golf Galaxy, Field & Stream, and other specialty concept stores; and e-commerce Websites, as well as Dick's Team Sports HQ, a youth sports digital platform that offers free league management services, mobile apps for scheduling, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.
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