DICK’S Sporting Goods, Inc. (NYSE:DKS) Announces $0.49 Quarterly Dividend

DICK’S Sporting Goods, Inc. (NYSE:DKSGet Rating) declared a quarterly dividend on Tuesday, November 22nd, Zacks reports. Stockholders of record on Friday, December 9th will be paid a dividend of 0.488 per share by the sporting goods retailer on Friday, December 30th. This represents a $1.95 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, December 8th.

DICK’S Sporting Goods has raised its dividend by an average of 99.1% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. DICK’S Sporting Goods has a payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect DICK’S Sporting Goods to earn $11.75 per share next year, which means the company should continue to be able to cover its $1.95 annual dividend with an expected future payout ratio of 16.6%.

DICK’S Sporting Goods Price Performance

Shares of NYSE:DKS opened at $117.76 on Wednesday. DICK’S Sporting Goods has a 52 week low of $63.45 and a 52 week high of $135.60. The company has a 50-day moving average price of $110.05 and a 200 day moving average price of $97.89. The company has a market cap of $9.33 billion, a P/E ratio of 10.10, a PEG ratio of 1.87 and a beta of 1.46. The company has a quick ratio of 0.75, a current ratio of 1.82 and a debt-to-equity ratio of 0.85.

DICK’S Sporting Goods (NYSE:DKSGet Rating) last issued its earnings results on Tuesday, August 23rd. The sporting goods retailer reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.53 by $0.15. DICK’S Sporting Goods had a return on equity of 55.70% and a net margin of 10.42%. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same period in the prior year, the business posted $5.08 EPS. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. Research analysts predict that DICK’S Sporting Goods will post 11.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Stifel Nicolaus increased their price objective on DICK’S Sporting Goods from $100.00 to $112.00 in a research report on Wednesday. StockNews.com started coverage on shares of DICK’S Sporting Goods in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Bank of America raised their price objective on shares of DICK’S Sporting Goods from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 19th. Cowen upped their target price on shares of DICK’S Sporting Goods from $150.00 to $155.00 in a research report on Wednesday. Finally, Wedbush lifted their price target on shares of DICK’S Sporting Goods from $130.00 to $140.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, DICK’S Sporting Goods presently has a consensus rating of “Moderate Buy” and an average price target of $135.16.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its stake in shares of DICK’S Sporting Goods by 111.1% during the 3rd quarter. Alliancebernstein L.P. now owns 197,541 shares of the sporting goods retailer’s stock worth $20,671,000 after purchasing an additional 103,969 shares during the period. Goldman Sachs Group Inc. increased its stake in DICK’S Sporting Goods by 10.3% in the second quarter. Goldman Sachs Group Inc. now owns 475,022 shares of the sporting goods retailer’s stock valued at $35,803,000 after purchasing an additional 44,228 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in DICK’S Sporting Goods by 11.1% during the third quarter. Price T Rowe Associates Inc. MD now owns 280,674 shares of the sporting goods retailer’s stock worth $29,371,000 after buying an additional 28,093 shares during the period. Kiwi Wealth Investments Limited Partnership purchased a new stake in DICK’S Sporting Goods in the 1st quarter valued at about $2,755,000. Finally, First Trust Advisors LP increased its stake in shares of DICK’S Sporting Goods by 6.4% during the 1st quarter. First Trust Advisors LP now owns 355,871 shares of the sporting goods retailer’s stock valued at $35,594,000 after acquiring an additional 21,417 shares during the last quarter. Institutional investors and hedge funds own 78.85% of the company’s stock.

About DICK’S Sporting Goods

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

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Dividend History for DICK'S Sporting Goods (NYSE:DKS)

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