Dick’s Sporting Goods Inc (DKS) Given a $29.00 Price Target at Wells Fargo & Company

Wells Fargo & Company set a $29.00 price objective on Dick’s Sporting Goods Inc (NYSE:DKS) in a report released on Wednesday. The firm currently has a hold rating on the sporting goods retailer’s stock.

Several other research analysts have also issued reports on DKS. Stifel Nicolaus set a $54.00 target price on shares of Dick’s Sporting Goods and gave the stock a buy rating in a research note on Thursday, June 15th. BidaskClub raised shares of Dick’s Sporting Goods from a strong sell rating to a sell rating in a research note on Tuesday, June 27th. Credit Suisse Group reissued a hold rating and set a $55.00 target price on shares of Dick’s Sporting Goods in a research note on Thursday, June 29th. Canaccord Genuity set a $54.00 target price on shares of Dick’s Sporting Goods and gave the stock a buy rating in a research note on Saturday, July 1st. Finally, BMO Capital Markets set a $62.00 target price on shares of Dick’s Sporting Goods and gave the stock a buy rating in a research note on Thursday, July 6th. Three analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and five have assigned a buy rating to the company’s stock. Dick’s Sporting Goods has an average rating of Hold and a consensus target price of $37.73.

Shares of Dick’s Sporting Goods (NYSE DKS) traded down 1.34% during midday trading on Wednesday, hitting $24.96. 3,878,036 shares of the company were exchanged. Dick’s Sporting Goods has a one year low of $24.60 and a one year high of $62.88. The firm’s 50 day moving average price is $27.04 and its 200 day moving average price is $38.14. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 8.96 and a beta of 0.51.

Dick’s Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, August 15th. The sporting goods retailer reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.04). The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Dick’s Sporting Goods had a return on equity of 19.09% and a net margin of 3.74%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 earnings per share. Analysts forecast that Dick’s Sporting Goods will post $2.90 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.68 dividend on an annualized basis and a yield of 2.72%. Dick’s Sporting Goods’s dividend payout ratio (DPR) is presently 24.29%.

In related news, Director William J. Colombo acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was acquired at an average price of $26.25 per share, for a total transaction of $525,000.00. Following the completion of the acquisition, the director now owns 323,224 shares of the company’s stock, valued at approximately $8,484,630. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 23.09% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Dick’s Sporting Goods by 2,879.3% during the first quarter. BlackRock Inc. now owns 8,515,919 shares of the sporting goods retailer’s stock worth $414,382,000 after buying an additional 8,230,087 shares during the last quarter. Vanguard Group Inc. increased its holdings in Dick’s Sporting Goods by 2.0% during the second quarter. Vanguard Group Inc. now owns 6,802,340 shares of the sporting goods retailer’s stock worth $270,937,000 after buying an additional 135,991 shares during the last quarter. TIAA CREF Investment Management LLC increased its holdings in Dick’s Sporting Goods by 263.8% during the second quarter. TIAA CREF Investment Management LLC now owns 5,634,221 shares of the sporting goods retailer’s stock worth $224,411,000 after buying an additional 4,085,414 shares during the last quarter. Northern Trust Corp increased its holdings in Dick’s Sporting Goods by 54.6% during the second quarter. Northern Trust Corp now owns 3,791,180 shares of the sporting goods retailer’s stock worth $151,003,000 after buying an additional 1,339,379 shares during the last quarter. Finally, State Street Corp increased its holdings in Dick’s Sporting Goods by 2.2% during the first quarter. State Street Corp now owns 3,244,995 shares of the sporting goods retailer’s stock worth $157,904,000 after buying an additional 69,237 shares during the last quarter. Institutional investors and hedge funds own 77.76% of the company’s stock.

Dick’s Sporting Goods Company Profile

Dick’s Sporting Goods, Inc is an omni-channel sporting goods retailer offering an assortment of sports equipment, apparel, footwear and accessories in its specialty retail stores primarily in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, and Dick’s Team Sports HQ, an all-in-one youth sports digital platform offering free league management services, mobile applications for scheduling, communications and live scorekeeping, custom uniforms and FanWear and access to donations and sponsorships.

Analyst Recommendations for Dick`s Sporting Goods (NYSE:DKS)

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