Dick's Sporting Goods (DKS) Declares $1.00 Dividend

Dick's Sporting Goods said on March 6, 2023 that its board of directors declared a regular quarterly dividend of $1.00 per share ($4.00 annualized). Previously, the company paid $0.49 per share.

Shares must be purchased before the ex-div date of March 16, 2023 to qualify for the dividend. Shareholders of record as of March 17, 2023 will receive the payment on March 31, 2023.

At the current share price of $146.79 / share, the stock's dividend yield is 2.72%. Looking back five years and taking a sample every week, the average dividend yield has been 2.37%, the lowest has been 1.23%, and the highest has been 7.34%. The standard deviation of yields is 0.84 (n=237).

The current dividend yield is 0.42 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.16. 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 0.77%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 4.28% Downside

As of March 8, 2023, the average one-year price target for Dick's Sporting Goods is $140.50. The forecasts range from a low of $113.12 to a high of $174.30. The average price target represents a decrease of 4.28% from its latest reported closing price of $146.79.

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The projected annual revenue for Dick's Sporting Goods is $12,300MM, a decrease of 0.55%. The projected annual non-GAAP EPS is $12.04.

What is the Fund Sentiment?

There are 1045 funds or institutions reporting positions in Dick's Sporting Goods. This is an increase of 38 owner(s) or 3.77% in the last quarter. Average portfolio weight of all funds dedicated to DKS is 0.30%, an increase of 13.51%. Total shares owned by institutions decreased in the last three months by 3.87% to 64,628K shares. The put/call ratio of DKS is 1.90, indicating a bearish outlook.

What are Large Shareholders Doing?

Lone Pine Capital holds 5,015K shares representing 6.01% ownership of the company. No change in the last quarter.

FCNTX - Fidelity Contrafund holds 2,362K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 2,307K shares, representing an increase of 2.36%. The firm increased its portfolio allocation in DKS by 17.39% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,725K shares representing 2.07% ownership of the company. In it's prior filing, the firm reported owning 1,575K shares, representing an increase of 8.65%. The firm increased its portfolio allocation in DKS by 16.22% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 1,717K shares representing 2.06% ownership of the company. In it's prior filing, the firm reported owning 1,663K shares, representing an increase of 3.15%. The firm increased its portfolio allocation in DKS by 3.60% over the last quarter.

Atreides Management holds 1,623K shares representing 1.95% ownership of the company. In it's prior filing, the firm reported owning 2,173K shares, representing a decrease of 33.96%. The firm increased its portfolio allocation in DKS by 28.68% 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.

This story originally appeared on Fintel.