DICK’S Sporting Goods, Inc. (NYSE:DKS – Get 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.
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
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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