Traders Purchase High Volume of Dicks Sporting Goods Call Options (DKS)

Dicks Sporting Goods Inc (NYSE:DKS) was the target of some unusual options trading on Wednesday. Stock traders bought 24,603 call options on the company. This is an increase of approximately 1,569% compared to the average volume of 1,474 call options.

Dicks Sporting Goods opened at $36.60 on Friday, MarketBeat reports. The company has a quick ratio of 0.21, a current ratio of 1.41 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.19 billion, a PE ratio of 12.16, a PEG ratio of 1.07 and a beta of 0.50. Dicks Sporting Goods has a 1-year low of $23.88 and a 1-year high of $42.38.

Dicks Sporting Goods (NYSE:DKS) last posted its earnings results on Wednesday, May 30th. The sporting goods retailer reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.14. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. Dicks Sporting Goods had a net margin of 3.77% and a return on equity of 16.86%. Dicks Sporting Goods’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 earnings per share. sell-side analysts predict that Dicks Sporting Goods will post 2.93 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 8th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.46%. Dicks Sporting Goods’s dividend payout ratio is currently 29.90%.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Dicks Sporting Goods by 1.3% during the first quarter. BlackRock Inc. now owns 7,031,950 shares of the sporting goods retailer’s stock worth $246,469,000 after purchasing an additional 87,300 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Dicks Sporting Goods by 14.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,273,962 shares of the sporting goods retailer’s stock worth $114,752,000 after purchasing an additional 401,849 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Dicks Sporting Goods by 268.7% during the first quarter. JPMorgan Chase & Co. now owns 2,603,116 shares of the sporting goods retailer’s stock worth $91,238,000 after purchasing an additional 1,897,076 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Dicks Sporting Goods by 812.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,469,346 shares of the sporting goods retailer’s stock worth $70,969,000 after purchasing an additional 2,198,746 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Dicks Sporting Goods by 29.6% during the fourth quarter. Renaissance Technologies LLC now owns 2,041,800 shares of the sporting goods retailer’s stock worth $58,681,000 after purchasing an additional 466,700 shares during the period. Institutional investors own 70.97% of the company’s stock.

A number of research analysts recently commented on DKS shares. Deutsche Bank increased their target price on Dicks Sporting Goods to $45.00 and gave the company a “buy” rating in a research note on Thursday. Deutsche Bank set a $45.00 target price on Dicks Sporting Goods and gave the company a “buy” rating in a research note on Thursday. Citigroup increased their target price on Dicks Sporting Goods from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday. Buckingham Research increased their target price on Dicks Sporting Goods from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Morgan Stanley increased their target price on Dicks Sporting Goods from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.32.

Dicks Sporting Goods Company Profile

Dick's Sporting Goods, Inc operates as a sporting goods retailer primarily in the eastern United States. It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories. The company also owns and operates Golf Galaxy, Field & Stream, and other specialty concept stores; and e-commerce Websites, as well as Dick's Team Sports HQ, a youth sports digital platform that offers free league management services, mobile apps for scheduling, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.

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