Fintel reports that on November 17, 2023, Truist Securities initiated coverage of Dicks Sporting Goods (NYSE:DKS) with a Buy recommendation.
Analyst Price Forecast Suggests 15.32% Upside
As of October 31, 2023, the average one-year price target for Dicks Sporting Goods is 136.17. The forecasts range from a low of 111.10 to a high of $210.00. The average price target represents an increase of 15.32% from its latest reported closing price of 118.08.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dicks Sporting Goods is 12,512MM, a decrease of 0.87%. The projected annual non-GAAP EPS is 12.19.
Dicks Sporting Goods Declares $1.00 Dividend
On August 21, 2023 the company declared a regular quarterly dividend of $1.00 per share ($4.00 annualized). Shareholders of record as of September 15, 2023 received the payment on September 29, 2023. Previously, the company paid $1.00 per share.
At the current share price of $118.08 / share, the stock's dividend yield is 3.39%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.45%, the lowest has been 1.23%, and the highest has been 7.34%. The standard deviation of yields is 0.89 (n=236).
The current dividend yield is 1.06 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.34. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 2.20%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1106 funds or institutions reporting positions in Dicks Sporting Goods. This is a decrease of 7 owner(s) or 0.63% in the last quarter. Average portfolio weight of all funds dedicated to DKS is 0.21%, a decrease of 18.28%. Total shares owned by institutions decreased in the last three months by 2.03% to 62,274K shares. 
The put/call ratio of DKS is 1.24, indicating a bearish outlook.
What are Other Shareholders Doing?
Lone Pine Capital holds 3,266K shares representing 3.84% ownership of the company. In it's prior filing, the firm reported owning 4,566K shares, representing a decrease of 39.79%. The firm decreased its portfolio allocation in DKS by 34.02% over the last quarter.
FCNTX - Fidelity Contrafund holds 2,385K shares representing 2.81% ownership of the company. In it's prior filing, the firm reported owning 2,395K shares, representing a decrease of 0.41%. The firm decreased its portfolio allocation in DKS by 15.68% over the last quarter.
Victory Capital Management holds 2,239K shares representing 2.63% ownership of the company. In it's prior filing, the firm reported owning 23K shares, representing an increase of 98.98%. The firm increased its portfolio allocation in DKS by 5,756.26% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,865K shares representing 2.19% ownership of the company. In it's prior filing, the firm reported owning 1,846K shares, representing an increase of 1.03%. The firm decreased its portfolio allocation in DKS by 9.83% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,854K shares representing 2.18% ownership of the company. In it's prior filing, the firm reported owning 1,758K shares, representing an increase of 5.17%. The firm decreased its portfolio allocation in DKS by 9.36% over the last quarter.
Dicks Sporting Goods Background Information
(This description is provided by the company.)
Founded in 1948, DICK'S Sporting Goods, Inc. is a leading omni-channel sporting goods retailer offering an extensive assortment of authentic, high-quality sports equipment, apparel, footwear and accessories. As of January 30, 2021, the Company operated 728 DICK'S Sporting Goods locations across the United States, serving and inspiring athletes and outdoor enthusiasts to achieve their personal best through a blend of dedicated teammates, in-store services and unique specialty shop-in-shops dedicated to Team Sports, Athletic Apparel, Golf, Lodge/Outdoor, Fitness and Footwear. Headquartered in Pittsburgh, PA, DICK'S also owns and operates Golf Galaxy and Field & Stream specialty stores, as well as GameChanger, a youth sports mobile app for scheduling, communications and live scorekeeping. DICK'S offers its products through a dynamic eCommerce platform that is integrated with its store network and provides customers with the convenience and expertise of a 24-hour storefront.
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