DICK’S Sporting Goods, Inc. (NYSE:DKS) Sees Large Decline in Short Interest

DICK’S Sporting Goods, Inc. (NYSE:DKS) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 3,560,000 shares, a drop of 7.8% from the October 31st total of 3,860,000 shares. Currently, 6.4% of the shares of the stock are sold short. Based on an average daily volume of 1,010,000 shares, the short-interest ratio is currently 3.5 days.

Hedge Funds Weigh In On DICK’S Sporting Goods

Several institutional investors have recently modified their holdings of DKS. State Street Corp increased its holdings in DICK’S Sporting Goods by 1.2% during the 3rd quarter. State Street Corp now owns 2,259,133 shares of the sporting goods retailer’s stock worth $473,945,000 after purchasing an additional 27,155 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of DICK’S Sporting Goods by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,788,820 shares of the sporting goods retailer’s stock worth $373,327,000 after buying an additional 57,672 shares in the last quarter. Renaissance Technologies LLC raised its position in DICK’S Sporting Goods by 51.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,106,341 shares of the sporting goods retailer’s stock valued at $237,697,000 after buying an additional 375,600 shares during the last quarter. Geode Capital Management LLC lifted its stake in DICK’S Sporting Goods by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,042,782 shares of the sporting goods retailer’s stock valued at $217,169,000 after acquiring an additional 10,640 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in DICK’S Sporting Goods by 15.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 780,346 shares of the sporting goods retailer’s stock worth $167,683,000 after acquiring an additional 102,609 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on DICK’S Sporting Goods from $230.00 to $227.00 and set an “equal weight” rating for the company in a report on Monday, August 12th. TD Cowen lifted their price target on DICK’S Sporting Goods from $266.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Telsey Advisory Group reissued an “outperform” rating and set a $260.00 price objective on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. Barclays raised their price objective on shares of DICK’S Sporting Goods from $247.00 to $254.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Finally, Bank of America increased their price target on shares of DICK’S Sporting Goods from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $244.95.

DICK’S Sporting Goods Trading Up 3.9 %

Shares of NYSE:DKS traded up $8.12 during mid-day trading on Monday, reaching $215.36. The stock had a trading volume of 1,879,686 shares, compared to its average volume of 1,095,764. The firm has a market cap of $17.53 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 2.36 and a beta of 1.64. The firm has a 50 day simple moving average of $205.65 and a two-hundred day simple moving average of $210.92. The company has a current ratio of 1.72, a quick ratio of 0.69 and a debt-to-equity ratio of 0.48. DICK’S Sporting Goods has a twelve month low of $136.44 and a twelve month high of $239.30.

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 analysts’ consensus estimates 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 company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period last year, the firm posted $2.85 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. On average, research analysts predict that DICK’S Sporting Goods will post 13.88 EPS for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $1.10 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.40 annualized dividend and a dividend yield of 2.04%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is currently 31.45%.

DICK’S Sporting Goods Company Profile

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.