Short Interest in DICK’S Sporting Goods, Inc. (NYSE:DKS) Decreases By 10.6%

DICK’S Sporting Goods, Inc. (NYSE:DKS) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 4,620,000 shares, a decrease of 10.6% from the August 31st total of 5,170,000 shares. Currently, 8.3% of the shares of the company are sold short. Based on an average daily volume of 1,030,000 shares, the days-to-cover ratio is presently 4.5 days.

Insider Activity at DICK’S Sporting Goods

In other news, Director Desiree Ralls-Morrison sold 3,489 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $206.65, for a total transaction of $721,001.85. Following the transaction, the director now owns 5,609 shares in the company, valued at approximately $1,159,099.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 32.03% of the company’s stock.

Hedge Funds Weigh In On DICK’S Sporting Goods

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in shares of DICK’S Sporting Goods by 51.4% in the second quarter. Renaissance Technologies LLC now owns 1,106,341 shares of the sporting goods retailer’s stock worth $237,697,000 after purchasing an additional 375,600 shares during the last quarter. Vanguard Group Inc. lifted its stake in DICK’S Sporting Goods by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 5,380,645 shares of the sporting goods retailer’s stock valued at $1,209,892,000 after acquiring an additional 166,687 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of DICK’S Sporting Goods by 5,379.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 167,768 shares of the sporting goods retailer’s stock valued at $37,724,000 after acquiring an additional 164,706 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of DICK’S Sporting Goods by 40.2% in the second quarter. AQR Capital Management LLC now owns 545,045 shares of the sporting goods retailer’s stock worth $117,103,000 after acquiring an additional 156,227 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in DICK’S Sporting Goods by 15.1% during the second quarter. Dimensional Fund Advisors LP now owns 780,346 shares of the sporting goods retailer’s stock valued at $167,683,000 after purchasing an additional 102,609 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of DICK’S Sporting Goods from $230.00 to $227.00 and set an “equal weight” rating on the stock in a report on Monday, August 12th. Bank of America raised their price target on shares of DICK’S Sporting Goods from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. Wedbush reissued a “neutral” rating and set a $250.00 price target on shares of DICK’S Sporting Goods in a research report on Thursday, September 5th. Loop Capital lifted their price objective on shares of DICK’S Sporting Goods from $200.00 to $220.00 and gave the company a “hold” rating in a research report on Thursday, September 5th. Finally, DA Davidson restated a “buy” rating and issued a $265.00 price target on shares of DICK’S Sporting Goods in a research note on Thursday, September 5th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, DICK’S Sporting Goods has an average rating of “Moderate Buy” and an average price target of $244.62.

DICK’S Sporting Goods Price Performance

Shares of DKS traded down $3.74 during mid-day trading on Tuesday, reaching $204.96. The stock had a trading volume of 304,920 shares, compared to its average volume of 1,114,742. The firm has a market cap of $16.70 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 2.45 and a beta of 1.64. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.69 and a current ratio of 1.77. The business has a fifty day moving average of $215.75 and a 200 day moving average of $211.77. DICK’S Sporting Goods has a 12 month low of $100.98 and a 12 month high of $239.30.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings data on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.60. DICK’S Sporting Goods had a return on equity of 45.14% and a net margin of 8.46%. The business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.44 billion. During the same period in the prior year, the firm earned $2.82 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities analysts predict that DICK’S Sporting Goods will post 13.9 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Friday, September 20th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 36.42%.

About DICK’S Sporting Goods

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