Wells Fargo & Company Cuts DICK’S Sporting Goods (NYSE:DKS) Price Target to $171.00

DICK’S Sporting Goods (NYSE:DKS) had its target price lowered by Wells Fargo & Company from $205.00 to $171.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the sporting goods retailer’s stock.

Several other equities analysts also recently commented on the stock. Argus boosted their target price on shares of DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Truist Financial set a $245.00 price target on shares of DICK’S Sporting Goods in a research note on Tuesday, March 11th. Wedbush restated a “neutral” rating and set a $215.00 price objective on shares of DICK’S Sporting Goods in a research report on Wednesday, March 12th. TD Cowen boosted their target price on DICK’S Sporting Goods from $270.00 to $294.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Citigroup restated a “neutral” rating and set a $220.00 price target (down previously from $230.00) on shares of DICK’S Sporting Goods in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $241.61.

DICK’S Sporting Goods Trading Up 3.5 %

Shares of DICK’S Sporting Goods stock opened at $193.87 on Wednesday. DICK’S Sporting Goods has a fifty-two week low of $166.37 and a fifty-two week high of $254.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The company has a market capitalization of $15.48 billion, a P/E ratio of 13.86, a P/E/G ratio of 2.47 and a beta of 1.32. The company has a fifty day moving average of $196.26 and a 200 day moving average of $212.33.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.15. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.76 billion. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.85 earnings per share. On average, sell-side analysts anticipate that DICK’S Sporting Goods will post 13.89 earnings per share for the current fiscal year.

DICK’S Sporting Goods announced that its Board of Directors has initiated a share buyback program on Tuesday, March 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

DICK’S Sporting Goods Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a dividend of $1.2125 per share. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Friday, March 28th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.50%. DICK’S Sporting Goods’s dividend payout ratio is currently 34.54%.

Hedge Funds Weigh In On DICK’S Sporting Goods

Several hedge funds have recently bought and sold shares of DKS. Richard C. Young & CO. LTD. lifted its position in shares of DICK’S Sporting Goods by 7.7% during the first quarter. Richard C. Young & CO. LTD. now owns 28,868 shares of the sporting goods retailer’s stock worth $5,819,000 after purchasing an additional 2,070 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in DICK’S Sporting Goods by 46.7% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 3,930 shares of the sporting goods retailer’s stock valued at $793,000 after buying an additional 1,251 shares during the period. Larson Financial Group LLC grew its stake in DICK’S Sporting Goods by 5.5% in the 1st quarter. Larson Financial Group LLC now owns 1,921 shares of the sporting goods retailer’s stock worth $387,000 after acquiring an additional 101 shares in the last quarter. Hager Investment Management Services LLC increased its position in shares of DICK’S Sporting Goods by 8.4% during the first quarter. Hager Investment Management Services LLC now owns 4,103 shares of the sporting goods retailer’s stock worth $827,000 after acquiring an additional 317 shares during the period. Finally, MTM Investment Management LLC raised its stake in shares of DICK’S Sporting Goods by 2.0% during the first quarter. MTM Investment Management LLC now owns 6,125 shares of the sporting goods retailer’s stock valued at $1,264,000 after acquiring an additional 121 shares in the last quarter. Institutional investors 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.