DICK’S Sporting Goods (NYSE:DKS) Shares Gap Down – Here’s What Happened

DICK’S Sporting Goods, Inc. (NYSE:DKS) gapped down before the market opened on Tuesday . The stock had previously closed at $211.02, but opened at $206.04. DICK’S Sporting Goods shares last traded at $201.54, with a volume of 1,248,631 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. DA Davidson decreased their target price on shares of DICK’S Sporting Goods from $280.00 to $273.00 and set a “buy” rating on the stock in a research report on Wednesday. Morgan Stanley boosted their price objective on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Wedbush reaffirmed a “neutral” rating and issued a $215.00 target price on shares of DICK’S Sporting Goods in a research report on Wednesday. TD Cowen boosted their price target on DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Guggenheim restated a “neutral” rating on shares of DICK’S Sporting Goods in a report on Wednesday. Nine analysts have rated the stock with a hold rating and fourteen have given 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 $245.55.

DICK’S Sporting Goods Trading Down 4.3 %

The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The business has a 50 day simple moving average of $230.08 and a two-hundred day simple moving average of $218.77. The stock has a market cap of $15.21 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.15. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company earned $3.85 earnings per share. As a group, equities analysts anticipate that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current year.

DICK’S Sporting Goods Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $1.2125 dividend. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 annualized dividend and a yield of 2.60%. The ex-dividend date is Friday, March 28th. DICK’S Sporting Goods’s payout ratio is currently 31.45%.

DICK’S Sporting Goods declared that its board has approved a share repurchase program on Tuesday, March 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the sporting goods retailer to reacquire up to 18.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Lawrence J. Schorr sold 7,333 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the completion of the transaction, the director now owns 50,997 shares of the company’s stock, valued at approximately $11,808,355.35. The trade was a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the completion of the sale, the chairman now directly owns 8,362,128 shares in the company, valued at approximately $1,917,017,844. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,933 shares of company stock valued at $39,655,456. Company insiders own 32.03% of the company’s stock.

Hedge Funds Weigh In On DICK’S Sporting Goods

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DKS. Brooklyn Investment Group acquired a new position in DICK’S Sporting Goods during the 3rd quarter worth $27,000. Park Square Financial Group LLC acquired a new stake in DICK’S Sporting Goods in the fourth quarter worth about $27,000. New Wave Wealth Advisors LLC bought a new position in DICK’S Sporting Goods in the 4th quarter valued at about $28,000. Ancora Advisors LLC acquired a new position in DICK’S Sporting Goods during the 4th quarter valued at about $28,000. Finally, Rialto Wealth Management LLC bought a new stake in shares of DICK’S Sporting Goods during the 4th quarter worth about $30,000. 89.83% of the stock is owned by institutional investors.

DICK’S Sporting Goods Company Profile

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.