DICK’S Sporting Goods (NYSE:DKS) Issues Quarterly Earnings Results

DICK’S Sporting Goods (NYSE:DKS – Get Rating) posted its quarterly earnings data on Tuesday. The sporting goods retailer reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.18, Briefing.com reports. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.80 billion. DICK’S Sporting Goods had a return on equity of 45.52% and a net margin of 8.69%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $2.85 EPS. DICK’S Sporting Goods updated its FY24 guidance to $12.90-13.80 EPS.

DICK’S Sporting Goods Trading Up 0.3 %

Shares of DKS opened at $124.22 on Thursday. DICK’S Sporting Goods has a 1-year low of $70.21 and a 1-year high of $152.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.96 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $139.88 and a 200-day simple moving average of $129.22. The stock has a market cap of $10.64 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 1.71 and a beta of 1.44.

DICK’S Sporting Goods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be given a $1.00 dividend. The ex-dividend date is Thursday, June 15th. This represents a $4.00 annualized dividend and a dividend yield of 3.22%. DICK’S Sporting Goods’s dividend payout ratio is presently 34.19%.

Insider Activity at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, SVP Julie Lodge-Jarrett sold 8,560 shares of the firm’s stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $140.00, for a total transaction of $1,198,400.00. Following the completion of the transaction, the senior vice president now owns 30,712 shares of the company’s stock, valued at $4,299,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other DICK’S Sporting Goods news, SVP Julie Lodge-Jarrett sold 8,560 shares of the firm’s stock in a transaction dated Tuesday, April 11th. The shares were sold at an average price of $140.00, for a total transaction of $1,198,400.00. Following the sale, the senior vice president now directly owns 30,712 shares of the company’s stock, valued at approximately $4,299,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anne Fink sold 3,174 shares of the business’s stock in a transaction that occurred on Thursday, April 6th. The shares were sold at an average price of $139.08, for a total transaction of $441,439.92. Following the completion of the transaction, the director now directly owns 14,481 shares of the company’s stock, valued at approximately $2,014,017.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 285,382 shares of company stock valued at $41,042,070. 30.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of DICK’S Sporting Goods by 7.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,056 shares of the sporting goods retailer’s stock valued at $2,306,000 after purchasing an additional 1,541 shares during the period. Great West Life Assurance Co. Can grew its holdings in DICK’S Sporting Goods by 14.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 40,257 shares of the sporting goods retailer’s stock valued at $4,161,000 after buying an additional 5,111 shares during the period. Yousif Capital Management LLC grew its holdings in DICK’S Sporting Goods by 0.6% in the 1st quarter. Yousif Capital Management LLC now owns 36,694 shares of the sporting goods retailer’s stock valued at $3,670,000 after buying an additional 217 shares during the period. Sei Investments Co. increased its stake in shares of DICK’S Sporting Goods by 20.3% during the 1st quarter. Sei Investments Co. now owns 30,737 shares of the sporting goods retailer’s stock valued at $3,160,000 after acquiring an additional 5,182 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of DICK’S Sporting Goods by 34.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,047 shares of the sporting goods retailer’s stock worth $204,000 after acquiring an additional 524 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DKS shares. Wedbush increased their price target on DICK’S Sporting Goods from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, March 8th. Gordon Haskett lifted their target price on shares of DICK’S Sporting Goods from $135.00 to $170.00 in a report on Tuesday, March 7th. Robert W. Baird boosted their price target on shares of DICK’S Sporting Goods from $120.00 to $150.00 in a research note on Tuesday, March 7th. DA Davidson raised their price objective on shares of DICK’S Sporting Goods from $145.00 to $178.00 and gave the company a “buy” rating in a research report on Wednesday, March 8th. Finally, TD Cowen boosted their target price on DICK’S Sporting Goods from $166.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 8th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.43.

About DICK’S Sporting Goods

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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.