DICK’S Sporting Goods, Inc. (NYSE:DKS) to Issue $0.44 Quarterly Dividend

DICK’S Sporting Goods, Inc. (NYSE:DKS) declared a quarterly dividend on Wednesday, November 24th, Wall Street Journal reports. Stockholders of record on Friday, December 10th will be given a dividend of 0.4375 per share by the sporting goods retailer on Wednesday, December 29th. This represents a $1.75 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Thursday, December 9th.

DICK’S Sporting Goods has raised its dividend by 83.8% over the last three years and has raised its dividend every year for the last 7 years. DICK’S Sporting Goods has a dividend payout ratio of 17.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect DICK’S Sporting Goods to earn $9.30 per share next year, which means the company should continue to be able to cover its $1.75 annual dividend with an expected future payout ratio of 18.8%.

Shares of NYSE:DKS traded down $7.25 during midday trading on Wednesday, reaching $127.30. 4,024,632 shares of the company’s stock were exchanged, compared to its average volume of 1,944,553. The firm’s 50 day simple moving average is $127.27 and its two-hundred day simple moving average is $112.99. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 0.94. The stock has a market cap of $11.28 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 0.84 and a beta of 1.72. DICK’S Sporting Goods has a fifty-two week low of $51.51 and a fifty-two week high of $147.39.

DICK’S Sporting Goods (NYSE:DKS) last released its earnings results on Tuesday, November 23rd. The sporting goods retailer reported $3.19 earnings per share for the quarter, beating the consensus estimate of $1.97 by $1.22. DICK’S Sporting Goods had a return on equity of 50.69% and a net margin of 10.69%. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the company posted $2.01 EPS. DICK’S Sporting Goods’s revenue was up 13.9% compared to the same quarter last year. Equities research analysts predict that DICK’S Sporting Goods will post 12.91 earnings per share for the current fiscal year.

A number of brokerages have weighed in on DKS. Citigroup boosted their price objective on DICK’S Sporting Goods from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday. Stephens increased their target price on DICK’S Sporting Goods from $95.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Friday, August 27th. Raymond James upgraded DICK’S Sporting Goods from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 26th. Telsey Advisory Group raised their price objective on DICK’S Sporting Goods from $125.00 to $153.00 and gave the stock an “outperform” rating in a report on Thursday, August 26th. Finally, Credit Suisse Group raised their price objective on DICK’S Sporting Goods from $88.00 to $123.00 and gave the stock a “neutral” rating in a report on Thursday, August 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, DICK’S Sporting Goods has a consensus rating of “Buy” and a consensus target price of $126.55.

In related news, EVP Vladimir Rak sold 10,011 shares of the business’s stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $145.08, for a total value of $1,452,395.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Lee J. Belitsky sold 35,000 shares of the business’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $134.86, for a total transaction of $4,720,100.00. The disclosure for this sale can be found here. Insiders sold 68,123 shares of company stock worth $9,468,718 over the last three months. 30.09% of the stock is currently owned by insiders.

An institutional investor recently raised its position in DICK’S Sporting Goods stock. Morgan Stanley lifted its holdings in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 27.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 433,401 shares of the sporting goods retailer’s stock after acquiring an additional 93,962 shares during the period. Morgan Stanley owned approximately 0.49% of DICK’S Sporting Goods worth $43,423,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 89.50% of the company’s stock.

About DICK’S Sporting Goods

Dick’s Sporting Goods, Inc engages in the retail of extensive assortment of authentic sports equipment, apparel, footwear, and accessories through a blend of associates, in-store services, and unique specialty shop-in-shops. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.

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

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