DICK’S Sporting Goods (NYSE:DKS) Sees Unusually-High Trading Volume on Earnings Beat

Shares of DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) saw unusually-high trading volume on Tuesday following a stronger than expected earnings report. Approximately 1,106,734 shares were traded during mid-day trading, a decline of 18% from the previous session’s volume of 1,346,739 shares.The stock last traded at $124.81 and had previously closed at $126.40.

The sporting goods retailer reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.18. DICK’S Sporting Goods had a return on equity of 45.97% and a net margin of 8.43%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the business posted $2.85 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year.

DICK’S Sporting Goods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.23%. DICK’S Sporting Goods’s dividend payout ratio is 37.14%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Stifel Nicolaus lifted 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. Williams Trading lowered DICK’S Sporting Goods from a “buy” rating to a “hold” rating in a research report on Monday, February 13th. TD Cowen boosted their price objective on DICK’S Sporting Goods from $166.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, March 8th. Wells Fargo & Company decreased their price objective on DICK’S Sporting Goods from $146.00 to $140.00 in a research report on Wednesday. Finally, Morgan Stanley boosted their price objective on DICK’S Sporting Goods from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, March 8th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.43.

Insider Activity at DICK’S Sporting Goods

In related news, Chairman Edward W. Stack sold 159,461 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $144.38, for a total value of $23,022,979.18. Following the sale, the chairman now directly owns 10,953,633 shares of the company’s stock, valued at $1,581,485,532.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Lauren R. Hobart sold 83,392 shares of DICK’S Sporting Goods stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $145.21, for a total transaction of $12,109,352.32. Following the sale, the chief executive officer now directly owns 233,269 shares of the company’s stock, valued at $33,872,991.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Edward W. Stack sold 159,461 shares of DICK’S Sporting Goods stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $144.38, for a total value of $23,022,979.18. Following the sale, the chairman now directly owns 10,953,633 shares in the company, valued at $1,581,485,532.54. The disclosure for this sale can be found here. Insiders have sold 285,382 shares of company stock valued at $41,042,070 over the last ninety days. 30.79% of the stock is owned by corporate insiders.

Institutional Trading of DICK’S Sporting Goods

A number of hedge funds have recently made changes to their positions in the company. Brown Brothers Harriman & Co. raised its position in shares of DICK’S Sporting Goods by 196.7% during the first quarter. Brown Brothers Harriman & Co. now owns 178 shares of the sporting goods retailer’s stock worth $25,000 after acquiring an additional 118 shares during the last quarter. Heritage Wealth Management LLC raised its position in shares of DICK’S Sporting Goods by 100.0% during the fourth quarter. Heritage Wealth Management LLC now owns 216 shares of the sporting goods retailer’s stock worth $26,000 after acquiring an additional 108 shares during the last quarter. Ridgewood Investments LLC bought a new position in shares of DICK’S Sporting Goods during the first quarter worth about $28,000. Fortis Capital Advisors LLC bought a new position in shares of DICK’S Sporting Goods during the first quarter worth about $28,000. Finally, Proficio Capital Partners LLC bought a new stake in DICK’S Sporting Goods in the first quarter worth approximately $29,000. 75.08% of the stock is owned by institutional investors and hedge funds.

DICK’S Sporting Goods Stock Performance

The firm has a market capitalization of $10.60 billion, a P/E ratio of 11.50, a P/E/G ratio of 1.73 and a beta of 1.44. The stock has a fifty day simple moving average of $139.88 and a two-hundred day simple moving average of $129.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.88 and a quick ratio of 0.81.

DICK’S Sporting Goods Company Profile

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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.