On May 23, 2023, Dicks Sporting Goods announced that its board of directors approved a regular quarterly dividend of $1.00 per share ($4.00 annualized), up from the previous $1.00 per share. To qualify for the dividend, shares must be purchased before the ex-dividend date of June 15, 2023. Shareholders of record as of June 16, 2023, will receive the payment on June 30, 2023. At the current share price of $124.58 per share, the stock’s dividend yield is 3.21%.
Looking back over the past five years, the average dividend yield has been 2.38%, with the lowest at 1.23% and the highest at 7.34%. The current dividend yield is 1.00 standard deviations above the historical average. Additionally, the company’s current dividend payout ratio is 0.31, indicating that the company is financially healthy and not dipping into savings to maintain the dividend.
The company has demonstrated dividend growth over time, with a three-year dividend growth rate of 2.20%.
To learn more about harvesting dividends, individuals can use Fintel’s Dividend Capture Calendar.
1057 funds or institutions are currently reporting positions in Dicks Sporting Goods, a 0.57% increase from the previous quarter. The put/call ratio of DKS is 1.68, indicating a bearish outlook. As of May 11, 2023, the average one-year price target for Dicks Sporting Goods is $166.21, representing an increase of 33.41% from its latest reported closing price of $124.58.
As of the prior filing, Lone Pine Capital holds 4,566K shares, which represents 5.37% ownership of Dicks Sporting Goods. FCNTX – Fidelity Contrafund holds 2,362K shares or 2.78% ownership, IJH – iShares Core S&P Mid-Cap ETF holds 1,846K shares or 2.17% ownership, Vanguard Total Stock Market Index Fund Investor Shares holds 1,725K shares or 2.03% ownership, and Atreides Management holds 1,665K shares or 1.96% ownership of the company.
Dicks Sporting Goods is a leading omni-channel sporting goods retailer that offers a variety of sports equipment, apparel, footwear, and accessories. Headquartered in Pittsburgh, PA, Dicks Sporting Goods 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.
Key filings for Dicks Sporting Goods can be found on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
