Short Interest in DICK’S Sporting Goods, Inc. (NYSE:DKS) Expands By 7.3%

DICK’S Sporting Goods, Inc. (NYSE:DKS) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 5,170,000 shares, an increase of 7.3% from the December 31st total of 4,820,000 shares. Approximately 9.3% of the company’s shares are sold short. Based on an average daily volume of 1,070,000 shares, the days-to-cover ratio is currently 4.8 days.

Analysts Set New Price Targets

DKS has been the subject of a number of analyst reports. Argus upped their price target on DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Wedbush reissued a “neutral” rating and set a $215.00 target price (down previously from $250.00) on shares of DICK’S Sporting Goods in a report on Wednesday, November 27th. UBS Group raised DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and increased their target price for the company from $225.00 to $260.00 in a report on Wednesday, November 27th. Telsey Advisory Group reissued an “outperform” rating and set a $260.00 target price on shares of DICK’S Sporting Goods in a report on Tuesday, November 26th. Finally, TD Cowen upped 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. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $248.09.

Insider Transactions at DICK’S Sporting Goods

In related news, Chairman Edward W. Stack sold 160,600 shares of the business’s stock in a transaction on 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 transaction, the chairman now directly owns 8,362,128 shares in the company, valued at $1,917,017,844. The trade was a 1.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $227.99, for a total value of $1,139,950.00. Following the transaction, the executive vice president now owns 16,504 shares in the company, valued at approximately $3,762,746.96. This trade represents a 23.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 172,933 shares of company stock worth $39,655,456. 32.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Holocene Advisors LP acquired a new position in shares of DICK’S Sporting Goods during the third quarter worth approximately $70,562,000. KBC Group NV lifted its position in shares of DICK’S Sporting Goods by 887.3% during the third quarter. KBC Group NV now owns 250,374 shares of the sporting goods retailer’s stock worth $52,253,000 after purchasing an additional 225,015 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of DICK’S Sporting Goods by 19,851.3% during the third quarter. International Assets Investment Management LLC now owns 208,491 shares of the sporting goods retailer’s stock worth $43,512,000 after purchasing an additional 207,446 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of DICK’S Sporting Goods by 1,718.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 200,000 shares of the sporting goods retailer’s stock worth $41,740,000 after purchasing an additional 189,000 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of DICK’S Sporting Goods during the third quarter worth approximately $32,093,000. Institutional investors own 89.83% of the company’s stock.

DICK’S Sporting Goods Price Performance

Shares of NYSE DKS traded up $2.18 during mid-day trading on Tuesday, reaching $239.45. 82,363 shares of the company traded hands, compared to its average volume of 1,046,900. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. The firm has a market cap of $19.51 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 2.73 and a beta of 1.57. DICK’S Sporting Goods has a fifty-two week low of $152.42 and a fifty-two week high of $254.60. The stock has a fifty day simple moving average of $226.71 and a 200-day simple moving average of $216.16.

DICK’S Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.07. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same quarter last year, the business posted $2.85 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts anticipate that DICK’S Sporting Goods will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.40 annualized dividend and a dividend yield of 1.84%. DICK’S Sporting Goods’s payout ratio is 31.45%.

About DICK’S Sporting Goods

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.