Wedbush Reaffirms Neutral Rating for DICK’S Sporting Goods (NYSE:DKS)

DICK’S Sporting Goods (NYSE:DKS)‘s stock had its “neutral” rating reaffirmed by Wedbush in a report issued on Thursday,Benzinga reports. They presently have a $215.00 target price on the sporting goods retailer’s stock. Wedbush’s price objective indicates a potential downside of 0.80% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Telsey Advisory Group restated an “outperform” rating and set a $260.00 price objective on shares of DICK’S Sporting Goods in a research report on Tuesday, November 26th. Argus upped their price target on DICK’S Sporting Goods from $255.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. UBS Group upgraded DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and upped their price target for the company from $225.00 to $260.00 in a research report on Wednesday, November 27th. Truist Financial upped their price target on DICK’S Sporting Goods from $256.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Morgan Stanley upped their price target on DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Eight analysts have rated the stock with a hold rating and fourteen have assigned 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 target price of $248.09.

DICK’S Sporting Goods Price Performance

DICK’S Sporting Goods stock opened at $216.74 on Thursday. The stock has a market capitalization of $17.66 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 2.47 and a beta of 1.57. DICK’S Sporting Goods has a 52 week low of $178.21 and a 52 week high of $254.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The stock has a fifty day moving average of $232.73 and a 200-day moving average of $219.67.

Insider Buying and Selling

In other news, Director Lawrence J. Schorr sold 7,333 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total value of $1,697,956.15. Following the completion of the sale, the director now directly owns 50,997 shares of the company’s stock, valued at $11,808,355.35. This represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Julie Lodge-Jarrett sold 5,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 16,504 shares of the company’s stock, 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 three months, insiders have sold 172,933 shares of company stock valued at $39,655,456. 32.03% of the stock is owned by company insiders.

Institutional Trading of DICK’S Sporting Goods

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wealthfront Advisers LLC purchased a new stake in shares of DICK’S Sporting Goods in the fourth quarter worth approximately $1,893,210,000. State Street Corp grew its holdings in shares of DICK’S Sporting Goods by 1.2% in the third quarter. State Street Corp now owns 2,259,133 shares of the sporting goods retailer’s stock valued at $473,945,000 after acquiring an additional 27,155 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of DICK’S Sporting Goods by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,866,177 shares of the sporting goods retailer’s stock valued at $427,056,000 after acquiring an additional 77,357 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of DICK’S Sporting Goods by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,057,793 shares of the sporting goods retailer’s stock valued at $241,660,000 after acquiring an additional 15,011 shares in the last quarter. Finally, Norges Bank bought a new position in shares of DICK’S Sporting Goods in the fourth quarter valued at approximately $221,693,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

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.