DICK’S Sporting Goods (NYSE:DKS) Hits New 52-Week High on Better-Than-Expected Earnings

Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) hit a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $143.49 and last traded at $143.05, with a volume of 1698115 shares traded. The stock had previously closed at $132.14.

The sporting goods retailer reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.07. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.45 billion. DICK’S Sporting Goods had a return on equity of 52.43% and a net margin of 9.52%. DICK’S Sporting Goods’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.64 earnings per share.

DICK’S Sporting Goods Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, March 16th. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $0.49. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.67%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 17.21%.

Wall Street Analyst Weigh In

DKS has been the subject of a number of analyst reports. Argus raised their price target on DICK’S Sporting Goods from $130.00 to $140.00 in a research note on Tuesday, December 6th. Wedbush raised their price target on DICK’S Sporting Goods from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on DICK’S Sporting Goods from $125.00 to $148.00 and gave the company a “neutral” rating in a research report on Wednesday. Cowen raised their price objective on DICK’S Sporting Goods from $155.00 to $166.00 in a research report on Monday, February 6th. Finally, Stifel Nicolaus raised their price objective on DICK’S Sporting Goods from $112.00 to $157.00 and gave the company a “hold” rating in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DICK’S Sporting Goods presently has a consensus rating of “Moderate Buy” and an average target price of $155.52.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, EVP Vladimir Rak sold 29,144 shares of DICK’S Sporting Goods stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $112.43, for a total transaction of $3,276,659.92. Following the transaction, the executive vice president now directly owns 48,260 shares of the company’s stock, valued at approximately $5,425,871.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP John Edward Hayes III sold 1,000 shares of the business’s stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $120.57, for a total value of $120,570.00. Following the transaction, the senior vice president now directly owns 26,231 shares of the company’s stock, valued at approximately $3,162,671.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vladimir Rak sold 29,144 shares of the business’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $112.43, for a total value of $3,276,659.92. Following the completion of the transaction, the executive vice president now directly owns 48,260 shares in the company, valued at $5,425,871.80. The disclosure for this sale can be found here. Company insiders own 32.83% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DKS. Balyasny Asset Management LLC raised its stake in DICK’S Sporting Goods by 6,908.1% during the 3rd quarter. Balyasny Asset Management LLC now owns 1,244,493 shares of the sporting goods retailer’s stock worth $130,224,000 after buying an additional 1,226,735 shares during the period. Renaissance Technologies LLC raised its stake in DICK’S Sporting Goods by 1,226.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,209,479 shares of the sporting goods retailer’s stock worth $91,158,000 after buying an additional 1,118,279 shares during the period. Samlyn Capital LLC raised its stake in DICK’S Sporting Goods by 179.0% during the 3rd quarter. Samlyn Capital LLC now owns 1,179,258 shares of the sporting goods retailer’s stock worth $123,397,000 after buying an additional 756,539 shares during the period. CIBC Private Wealth Group LLC raised its stake in DICK’S Sporting Goods by 116.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,174,456 shares of the sporting goods retailer’s stock worth $141,275,000 after buying an additional 632,420 shares during the period. Finally, Geode Capital Management LLC raised its stake in DICK’S Sporting Goods by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 881,663 shares of the sporting goods retailer’s stock worth $106,366,000 after buying an additional 6,374 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

DICK’S Sporting Goods Trading Up 2.0 %

The business has a 50 day moving average of $128.97 and a two-hundred day moving average of $117.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.81. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 2.21 and a beta of 1.41.

About DICK’S Sporting Goods

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Dick’s Sporting Goods, Inc engages in the retail of an 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.