Stock Traders Purchase High Volume of Dicks Sporting Goods Put Options (DKS)

Stock Traders Purchase High Volume of Dicks Sporting Goods Put Options (DKS)

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Dicks Sporting Goods Inc (NYSE:DKS) saw unusually large options trading activity on Friday. Traders acquired 8,347 put options on the company. This represents an increase of approximately 684% compared to the average volume of 1,065 put options.

Shares of Dicks Sporting Goods (NYSE:DKS) opened at 41.39 on Friday. The stock has a market capitalization of $4.57 billion, a PE ratio of 16.03 and a beta of 0.65. The company’s 50 day moving average is $49.45 and its 200-day moving average is $52.61. Dicks Sporting Goods has a 52 week low of $39.54 and a 52 week high of $62.88.

Dicks Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, May 16th. The sporting goods retailer reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.83 billion. Dicks Sporting Goods had a net margin of 4.25% and a return on equity of 18.15%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 earnings per share. On average, equities analysts predict that Dicks Sporting Goods will post $3.69 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 9th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.68 annualized dividend and a yield of 1.64%. Dicks Sporting Goods’s dividend payout ratio (DPR) is 21.11%.

In related news, Director Emanuel Chirico sold 20,000 shares of the company’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $48.73, for a total value of $974,600.00. Following the sale, the director now owns 119,171 shares in the company, valued at approximately $5,807,202.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Edward W. Stack sold 333,344 shares of the company’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $47.47, for a total transaction of $15,823,839.68. The disclosure for this sale can be found here. Corporate insiders own 22.96% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. LS Investment Advisors LLC raised its stake in shares of Dicks Sporting Goods by 0.3% in the first quarter. LS Investment Advisors LLC now owns 9,562 shares of the sporting goods retailer’s stock valued at $465,000 after buying an additional 31 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of Dicks Sporting Goods by 0.3% in the first quarter. Municipal Employees Retirement System of Michigan now owns 40,750 shares of the sporting goods retailer’s stock valued at $1,983,000 after buying an additional 130 shares during the period. Commonwealth Bank of Australia raised its stake in shares of Dicks Sporting Goods by 1.5% in the third quarter. Commonwealth Bank of Australia now owns 13,300 shares of the sporting goods retailer’s stock valued at $756,000 after buying an additional 200 shares during the period. Gulf International Bank UK Ltd raised its stake in shares of Dicks Sporting Goods by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 31,233 shares of the sporting goods retailer’s stock valued at $1,519,000 after buying an additional 200 shares during the period. Finally, James Investment Research Inc. raised its stake in shares of Dicks Sporting Goods by 7.3% in the first quarter. James Investment Research Inc. now owns 2,933 shares of the sporting goods retailer’s stock valued at $143,000 after buying an additional 200 shares during the period. Institutional investors own 71.76% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Dicks Sporting Goods in a report on Saturday, May 13th. B. Riley restated a “buy” rating and issued a $58.00 target price on shares of Dicks Sporting Goods in a report on Wednesday. Morgan Stanley restated an “equal weight” rating and issued a $46.00 target price (down previously from $55.00) on shares of Dicks Sporting Goods in a report on Wednesday. Barclays PLC restated an “equal weight” rating and issued a $46.00 target price (down previously from $50.00) on shares of Dicks Sporting Goods in a report on Wednesday. Finally, Robert W. Baird restated a “neutral” rating and issued a $45.00 target price (down previously from $52.00) on shares of Dicks Sporting Goods in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-two have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $58.30.

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Dicks 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.

5 Day Chart for NYSE:DKS

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Dan specializes in matters of money management and personal finance and has been published on numerous financial, business, health and wellness and sports websites.

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