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

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

DICK’S Sporting Goods Price Performance

NYSE DKS opened at $123.85 on Thursday. 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 stock’s fifty day moving average price is $139.88 and its 200 day moving average price is $129.22. DICK’S Sporting Goods has a 1 year low of $63.45 and a 1 year high of $152.61. The company has a market cap of $10.60 billion, a price-to-earnings ratio of 10.59, a PEG 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 dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, June 15th. DICK’S Sporting Goods’s payout ratio is presently 34.19%.

Analyst Ratings Changes

A number of research firms have commented on DKS. Stifel Nicolaus raised their price target on DICK’S Sporting Goods from $112.00 to $157.00 and gave the company a “hold” rating in a report on Wednesday, March 8th. Telsey Advisory Group reissued an “outperform” rating and set a $165.00 price target on shares of DICK’S Sporting Goods in a report on Friday, March 17th. Bank of America raised their price target on DICK’S Sporting Goods from $145.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, March 8th. Williams Trading cut DICK’S Sporting Goods from a “buy” rating to a “hold” rating in a report on Monday, February 13th. Finally, StockNews.com began coverage on DICK’S Sporting Goods in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $156.43.

Insider Activity at DICK’S Sporting Goods

In related news, CEO Lauren R. Hobart sold 83,392 shares of the company’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $145.21, for a total value of $12,109,352.32. Following the transaction, the chief executive officer now directly owns 233,269 shares of the company’s stock, valued at approximately $33,872,991.49. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Lauren R. Hobart sold 83,392 shares of the company’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $145.21, for a total value of $12,109,352.32. Following the transaction, the chief executive officer now directly owns 233,269 shares of the company’s stock, valued at approximately $33,872,991.49. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Anne Fink sold 3,174 shares of the company’s stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $139.08, for a total value of $441,439.92. Following the completion of the transaction, the director now directly owns 14,481 shares in the company, valued at $2,014,017.48. The disclosure for this sale can be found here. Insiders have sold a total of 285,382 shares of company stock valued at $41,042,070 in the last ninety days. Company insiders own 30.79% of the company’s stock.

Institutional Investors Weigh In On DICK’S Sporting Goods

Several hedge funds have recently added to or reduced their stakes in DKS. Fortis Capital Advisors LLC purchased a new stake in DICK’S Sporting Goods in the first quarter valued at $28,000. Money Concepts Capital Corp boosted its holdings in DICK’S Sporting Goods by 176.8% in the fourth quarter. Money Concepts Capital Corp now owns 562 shares of the sporting goods retailer’s stock valued at $68,000 after purchasing an additional 359 shares during the last quarter. GeoWealth Management LLC purchased a new stake in DICK’S Sporting Goods in the first quarter valued at $76,000. Point72 Hong Kong Ltd boosted its holdings in DICK’S Sporting Goods by 188.8% in the first quarter. Point72 Hong Kong Ltd now owns 797 shares of the sporting goods retailer’s stock valued at $80,000 after purchasing an additional 521 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in DICK’S Sporting Goods by 118.7% in the first quarter. Covestor Ltd now owns 912 shares of the sporting goods retailer’s stock valued at $91,000 after purchasing an additional 495 shares during the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

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.