DICK’S Sporting Goods (NYSE:DKS) Price Target Raised to $235.00 at Morgan Stanley

DICK’S Sporting Goods (NYSE:DKS) had its target price raised by Morgan Stanley from $160.00 to $235.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the sporting goods retailer’s stock.

Several other research analysts have also weighed in on DKS. Telsey Advisory Group lifted their price objective on DICK’S Sporting Goods from $160.00 to $195.00 and gave the stock an outperform rating in a research report on Monday, March 11th. Citigroup boosted their target price on DICK’S Sporting Goods from $112.00 to $120.00 and gave the company a neutral rating in a research report on Wednesday, November 22nd. Loop Capital boosted their price objective on DICK’S Sporting Goods from $150.00 to $220.00 and gave the stock a hold rating in a report on Monday. Truist Financial boosted their price objective on DICK’S Sporting Goods from $201.00 to $243.00 and gave the stock a buy rating in a report on Friday. Finally, Wedbush boosted their price objective on DICK’S Sporting Goods from $115.00 to $130.00 and gave the stock a neutral rating in a report on Wednesday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, DICK’S Sporting Goods has an average rating of Hold and an average target price of $196.95.

DICK’S Sporting Goods Trading Up 0.7 %

DKS traded up $1.56 during midday trading on Friday, hitting $213.04. 1,382,984 shares of the company were exchanged, compared to its average volume of 1,228,734. The firm has a market capitalization of $17.41 billion, a P/E ratio of 17.43, a P/E/G ratio of 3.20 and a beta of 1.55. DICK’S Sporting Goods has a 1-year low of $100.98 and a 1-year high of $222.92. The firm’s 50 day moving average price is $163.78 and its 200-day moving average price is $135.67. The company has a quick ratio of 0.56, a current ratio of 1.78 and a debt-to-equity ratio of 0.57.

DICK’S Sporting Goods (NYSE:DKS) last announced its earnings results on Thursday, March 14th. The sporting goods retailer reported $3.85 EPS for the quarter, topping the consensus estimate of $3.35 by $0.50. DICK’S Sporting Goods had a return on equity of 42.99% and a net margin of 8.06%. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the previous year, the business earned $2.93 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts forecast that DICK’S Sporting Goods will post 13.07 EPS for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 29th will be given a dividend of $1.10 per share. The ex-dividend date is Wednesday, March 27th. This represents a $4.40 annualized dividend and a dividend yield of 2.07%. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.00. DICK’S Sporting Goods’s dividend payout ratio is currently 32.84%.

Institutional Investors Weigh In On DICK’S Sporting Goods

Several institutional investors have recently made changes to their positions in the stock. US Bancorp DE lifted its position in shares of DICK’S Sporting Goods by 1.5% during the fourth quarter. US Bancorp DE now owns 4,901 shares of the sporting goods retailer’s stock worth $720,000 after acquiring an additional 71 shares in the last quarter. Sei Investments Co. lifted its position in shares of DICK’S Sporting Goods by 0.3% during the fourth quarter. Sei Investments Co. now owns 25,381 shares of the sporting goods retailer’s stock worth $3,729,000 after acquiring an additional 72 shares in the last quarter. Atlas Capital Advisors LLC lifted its position in shares of DICK’S Sporting Goods by 4.8% during the first quarter. Atlas Capital Advisors LLC now owns 1,733 shares of the sporting goods retailer’s stock worth $246,000 after acquiring an additional 79 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of DICK’S Sporting Goods by 0.5% during the second quarter. Thrivent Financial for Lutherans now owns 15,871 shares of the sporting goods retailer’s stock worth $2,098,000 after acquiring an additional 79 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of DICK’S Sporting Goods by 0.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 13,370 shares of the sporting goods retailer’s stock worth $1,965,000 after acquiring an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 68.21% of the company’s stock.

About DICK’S Sporting Goods

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as a sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories.