Dicks Sporting Goods Stock Price Up 3% on Insider Buying Activity (DKS)
Dicks Sporting Goods (NYSE:DKS) shares were up 3% on Friday following insider buying activity, AnalystRatings.Net reports. The stock traded as high as $44.99 and last traded at $44.40, with a volume of 2,585,005 shares changing hands. The stock had previously closed at $43.12.
Specifically, major shareholder Edward W. Stack purchased 115,000 shares of Dicks Sporting Goods stock on the open market in a transaction that occurred on Wednesday, May 28th. The stock was purchased at an average price of $42.56 per share, for a total transaction of $4,894,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
A number of analysts have recently weighed in on DKS shares. Analysts at Susquehanna cut their price target on shares of Dicks Sporting Goods from $65.00 to $51.00 in a research note on Thursday, May 22nd. They now have a “positive” rating on the stock. Separately, analysts at Goldman Sachs reiterated a “conviction-buy” rating on shares of Dicks Sporting Goods in a research note on Thursday, May 22nd. Finally, analysts at Barclays cut their price target on shares of Dicks Sporting Goods from $60.00 to $50.00 in a research note on Thursday, May 22nd. They now have an “overweight” rating on the stock. Fourteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $52.50.
The stock has a 50-day moving average of $50. and a 200-day moving average of $53.69. The company has a market cap of $5.385 billion and a P/E ratio of 15.73.
Dicks Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, May 20th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by $0.03. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts predict that Dicks Sporting Goods will post $2.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 27th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Wednesday, June 4th.
DICK’S Sporting Goods, Inc is a sports and fitness specialty omni-channel retailer offering a range of brand name sporting goods equipment, apparel and footwear in a specialty store environment.
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