Stock Traders Purchase Large Volume of Put Options on DICK’S Sporting Goods (NYSE:DKS)

DICK’S Sporting Goods, Inc. (NYSE:DKS) saw some unusual options trading activity on Thursday. Traders purchased 7,861 put options on the company. This represents an increase of 75% compared to the typical volume of 4,493 put options.

DICK’S Sporting Goods Trading Up 3.1%

Shares of NYSE:DKS traded up $6.50 during midday trading on Thursday, reaching $216.58. The company’s stock had a trading volume of 220,783 shares, compared to its average volume of 1,348,913. The firm has a market cap of $19.49 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 3.41 and a beta of 1.19. The business has a 50 day moving average price of $212.45 and a 200 day moving average price of $216.06. DICK’S Sporting Goods has a 1 year low of $166.37 and a 1 year high of $254.60. The company has a quick ratio of 0.37, a current ratio of 1.57 and a debt-to-equity ratio of 0.35.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Tuesday, November 25th. The sporting goods retailer reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.16. DICK’S Sporting Goods had a return on equity of 30.55% and a net margin of 6.86%.The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period last year, the company earned $2.75 EPS. The firm’s quarterly revenue was up 36.3% on a year-over-year basis. DICK’S Sporting Goods has set its FY 2025 guidance at 14.250-14.550 EPS. Research analysts forecast that DICK’S Sporting Goods will post 13.89 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 12th were issued a dividend of $1.2125 per share. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, December 12th. DICK’S Sporting Goods’s dividend payout ratio is presently 39.02%.

Institutional Investors Weigh In On DICK’S Sporting Goods

Several institutional investors and hedge funds have recently added to or reduced their stakes in DKS. Royal Bank of Canada lifted its stake in shares of DICK’S Sporting Goods by 5.3% in the first quarter. Royal Bank of Canada now owns 60,082 shares of the sporting goods retailer’s stock worth $12,111,000 after acquiring an additional 3,011 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in DICK’S Sporting Goods by 186.7% during the 1st quarter. Advisors Asset Management Inc. now owns 4,576 shares of the sporting goods retailer’s stock worth $922,000 after purchasing an additional 2,980 shares during the last quarter. SCS Capital Management LLC acquired a new position in shares of DICK’S Sporting Goods in the 1st quarter valued at approximately $1,962,000. Integrity Alliance LLC. purchased a new position in shares of DICK’S Sporting Goods during the 1st quarter valued at approximately $470,000. Finally, Intech Investment Management LLC grew its position in shares of DICK’S Sporting Goods by 0.9% during the first quarter. Intech Investment Management LLC now owns 52,003 shares of the sporting goods retailer’s stock worth $10,482,000 after buying an additional 465 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on DKS. DA Davidson dropped their price objective on DICK’S Sporting Goods from $270.00 to $245.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Truist Financial increased their price objective on shares of DICK’S Sporting Goods from $248.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Wells Fargo & Company upped their price target on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, November 26th. Barclays dropped their price objective on shares of DICK’S Sporting Goods from $246.00 to $242.00 and set an “overweight” rating for the company in a research note on Friday, November 28th. Finally, TD Cowen cut their price objective on DICK’S Sporting Goods from $234.00 to $226.00 and set a “hold” rating for the company in a research report on Wednesday, November 26th. Eleven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, DICK’S Sporting Goods has a consensus rating of “Hold” and a consensus target price of $235.10.

DICK’S Sporting Goods Company Profile

DICK’S Sporting Goods is a leading U.S.-based sporting goods retailer that sells a broad range of sports equipment, apparel, footwear and outdoor gear. The company operates an omnichannel business combining physical stores with digital sales, offering products for team sports, fitness, hunting and fishing, golf, and general active lifestyle categories. In addition to its flagship DICK’S stores, the company operates specialty formats such as Golf Galaxy and branded service offerings including team-sports sales and custom equipment solutions.

The company traces its roots to a single sporting goods outlet founded in 1948 and has since grown into a national retail chain serving customers across the United States.