DICK’S Sporting Goods (NYSE:DKS) Hits New 52-Week High – Still a Buy?

DICK’S Sporting Goods, Inc. (NYSE:DKS) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $241.71 and last traded at $240.29, with a volume of 85860 shares trading hands. The stock had previously closed at $236.46.

Analyst Ratings Changes

DKS has been the topic of a number of research reports. TD Cowen lifted their price target on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Loop Capital lifted their price target on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Morgan Stanley boosted their target price on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday. Truist Financial boosted their target price on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Wedbush restated a “neutral” rating and issued a $215.00 target price (down from $250.00) on shares of DICK’S Sporting Goods in a report on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $246.57.

DICK’S Sporting Goods Price Performance

The firm’s 50-day moving average price is $219.75 and its two-hundred day moving average price is $214.22. The stock has a market cap of $19.98 billion, a PE ratio of 17.46, a PEG ratio of 2.67 and a beta of 1.58. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.07. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter in the prior year, the company earned $2.85 EPS. The company’s revenue was up .5% compared to the same quarter last year. On average, equities analysts expect that DICK’S Sporting Goods, Inc. will post 13.88 earnings per share for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $1.10 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.40 annualized dividend and a dividend yield of 1.79%. DICK’S Sporting Goods’s payout ratio is presently 31.45%.

Insider Transactions at DICK’S Sporting Goods

In related news, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were 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 of the company’s stock, valued at $3,762,746.96. This represents a 23.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the sale, the chairman now directly owns 8,362,128 shares of the company’s stock, valued at $1,917,017,844. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,933 shares of company stock valued at $39,655,456. Company insiders own 32.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. ORG Partners LLC increased its stake in shares of DICK’S Sporting Goods by 37.0% in the third quarter. ORG Partners LLC now owns 200 shares of the sporting goods retailer’s stock worth $42,000 after acquiring an additional 54 shares during the period. CIBC Asset Management Inc increased its stake in shares of DICK’S Sporting Goods by 1.7% in the third quarter. CIBC Asset Management Inc now owns 3,232 shares of the sporting goods retailer’s stock worth $675,000 after acquiring an additional 54 shares during the period. Stonegate Investment Group LLC increased its stake in shares of DICK’S Sporting Goods by 2.9% in the fourth quarter. Stonegate Investment Group LLC now owns 2,066 shares of the sporting goods retailer’s stock worth $473,000 after acquiring an additional 58 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in shares of DICK’S Sporting Goods by 3.5% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 2,055 shares of the sporting goods retailer’s stock worth $470,000 after acquiring an additional 70 shares during the period. Finally, SeaCrest Wealth Management LLC increased its stake in shares of DICK’S Sporting Goods by 4.8% in the fourth quarter. SeaCrest Wealth Management LLC now owns 1,765 shares of the sporting goods retailer’s stock worth $404,000 after acquiring an additional 81 shares during the period. Institutional investors and hedge funds 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.