Stock Traders Purchase Large Volume of Put Options on Dicks Sporting Goods (NYSE:DKS)

Dicks Sporting Goods Inc (NYSE:DKS) was the target of some unusual options trading on Tuesday. Traders bought 10,282 put options on the company. This is an increase of approximately 1,330% compared to the typical volume of 719 put options.

Institutional investors have recently made changes to their positions in the stock. Cerebellum GP LLC bought a new stake in Dicks Sporting Goods during the fourth quarter worth $122,000. Toronto Dominion Bank grew its stake in Dicks Sporting Goods by 169.2% in the 3rd quarter. Toronto Dominion Bank now owns 4,657 shares of the sporting goods retailer’s stock valued at $126,000 after purchasing an additional 2,927 shares during the period. Valeo Financial Advisors LLC bought a new position in Dicks Sporting Goods in the 3rd quarter valued at $132,000. Delpha Capital Management LLC bought a new position in Dicks Sporting Goods in the 4th quarter valued at $132,000. Finally, State of Alaska Department of Revenue bought a new position in Dicks Sporting Goods in the 4th quarter valued at $188,000. Institutional investors and hedge funds own 75.63% of the company’s stock.

Shares of Dicks Sporting Goods (DKS) traded down $0.34 during trading on Wednesday, reaching $32.84. The company had a trading volume of 2,999,789 shares, compared to its average volume of 3,177,888. Dicks Sporting Goods has a 1-year low of $23.88 and a 1-year high of $52.89. The company has a market capitalization of $3,600.00, a P/E ratio of 12.12, a P/E/G ratio of 1.96 and a beta of 0.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.61 and a quick ratio of 0.25.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 9th will be issued a dividend of $0.225 per share. The ex-dividend date is Thursday, March 8th. This represents a $0.90 annualized dividend and a yield of 2.74%. This is an increase from Dicks Sporting Goods’s previous quarterly dividend of $0.17. Dicks Sporting Goods’s dividend payout ratio is 25.09%.

DKS has been the topic of a number of recent analyst reports. BMO Capital Markets set a $40.00 target price on Dicks Sporting Goods and gave the company a “buy” rating in a research report on Thursday, January 11th. ValuEngine cut Dicks Sporting Goods from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Bank of America reduced their price target on Dicks Sporting Goods from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, November 15th. Susquehanna Bancshares reduced their price target on Dicks Sporting Goods from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, November 10th. Finally, MKM Partners reduced their price target on Dicks Sporting Goods from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, November 15th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.88.

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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.

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