DICK’S Sporting Goods, Inc. (NYSE:DKS) Increases Dividend to $1.21 Per Share

DICK’S Sporting Goods, Inc. (NYSE:DKS) announced a quarterly dividend on Tuesday, March 11th, RTT News reports. Shareholders of record on Friday, March 28th will be paid a dividend of 1.2125 per share by the sporting goods retailer on Friday, April 11th. This represents a $4.85 annualized dividend and a yield of 2.29%. This is a 10.2% increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.10.

DICK’S Sporting Goods has raised its dividend payment by an average of 40.1% per year over the last three years. DICK’S Sporting Goods has a payout ratio of 27.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect DICK’S Sporting Goods to earn $14.79 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 29.7%.

DICK’S Sporting Goods Price Performance

NYSE DKS opened at $211.36 on Tuesday. 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 capitalization of $17.22 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. The company has a 50 day simple moving average of $231.36 and a 200-day simple moving average of $219.22. DICK’S Sporting Goods has a 52-week low of $178.21 and a 52-week high of $254.60.

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

Wall Street Analyst Weigh In

DKS has been the topic of several research reports. Truist Financial upped their target price on DICK’S Sporting Goods from $256.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Telsey Advisory Group restated an “outperform” rating and issued a $260.00 price objective on shares of DICK’S Sporting Goods in a report on Friday. TD Cowen raised their price objective on shares of 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. Morgan Stanley raised their price target on shares of DICK’S Sporting Goods from $245.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, Loop Capital upped their price objective on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, DICK’S Sporting Goods has a consensus rating of “Moderate Buy” and an average target price of $248.09.

Insiders Place Their Bets

In related news, Director Lawrence J. Schorr sold 7,333 shares of DICK’S Sporting Goods stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.55, for a total transaction of $1,697,956.15. Following the sale, the director now directly owns 50,997 shares of the company’s stock, valued at $11,808,355.35. This trade represents a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Edward W. Stack sold 160,600 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $229.25, for a total value of $36,817,550.00. Following the transaction, the chairman now owns 8,362,128 shares in the company, valued at $1,917,017,844. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 172,933 shares of company stock worth $39,655,456 in the last ninety days. Insiders own 32.03% of the company’s stock.

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.