The Goldman Sachs Group Boosts DICK’S Sporting Goods (NYSE:DKS) Price Target to $247.00

DICK’S Sporting Goods (NYSE:DKS) had its price target increased by The Goldman Sachs Group from $157.00 to $247.00 in a research report sent to investors on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the sporting goods retailer’s stock.

Several other equities research analysts have also issued reports on the stock. Citigroup lifted their price objective on shares of DICK’S Sporting Goods from $112.00 to $120.00 and gave the company a neutral rating in a research note on Wednesday, November 22nd. Wedbush lifted their price objective on shares of DICK’S Sporting Goods from $115.00 to $130.00 and gave the company a neutral rating in a research note on Wednesday, November 22nd. Morgan Stanley lifted their target price on shares of DICK’S Sporting Goods from $160.00 to $235.00 and gave the stock an overweight rating in a report on Friday. DA Davidson lifted their target price on shares of DICK’S Sporting Goods from $183.00 to $250.00 and gave the stock a buy rating in a report on Friday. Finally, Barclays lifted their target price on shares of DICK’S Sporting Goods from $194.00 to $239.00 and gave the stock an overweight rating in a report on Monday. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, DICK’S Sporting Goods presently has a consensus rating of Hold and an average target price of $196.95.

DICK’S Sporting Goods Stock Up 0.7 %

Shares of NYSE:DKS traded up $1.56 during trading on Friday, reaching $213.04. 1,382,984 shares of the company traded hands, compared to its average volume of 1,228,734. The firm has a fifty day simple moving average of $163.78 and a 200 day simple moving average of $135.67. The firm has a market cap of $17.41 billion, a P/E ratio of 17.43, a price-to-earnings-growth 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 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 issued its earnings results on Thursday, March 14th. The sporting goods retailer reported $3.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.35 by $0.50. DICK’S Sporting Goods had a net margin of 8.06% and a return on equity of 42.99%. The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the business posted $2.93 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts anticipate that DICK’S Sporting Goods will post 13.07 earnings per share for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

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

Institutional Trading of DICK’S Sporting Goods

Several large investors have recently added to or reduced their stakes in DKS. Victory Capital Management Inc. grew its stake in DICK’S Sporting Goods by 9,735.6% during the third quarter. Victory Capital Management Inc. now owns 2,239,273 shares of the sporting goods retailer’s stock worth $243,140,000 after buying an additional 2,216,506 shares during the last quarter. Norges Bank bought a new stake in DICK’S Sporting Goods during the fourth quarter worth about $108,908,000. BlackRock Inc. grew its stake in DICK’S Sporting Goods by 12.1% during the first quarter. BlackRock Inc. now owns 5,983,808 shares of the sporting goods retailer’s stock worth $849,043,000 after buying an additional 644,609 shares during the last quarter. Barclays PLC grew its stake in DICK’S Sporting Goods by 169.4% during the second quarter. Barclays PLC now owns 238,774 shares of the sporting goods retailer’s stock worth $31,564,000 after buying an additional 583,069 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in DICK’S Sporting Goods by 145.0% during the third quarter. AQR Capital Management LLC now owns 789,482 shares of the sporting goods retailer’s stock worth $85,722,000 after buying an additional 467,243 shares during the last quarter. 68.21% of the stock is owned by institutional investors.

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.