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Dick's Sporting Goods Inc stock price
Dick's Sporting Goods Inc latest news:
Dick's Sporting Goods upgraded to hold from sell at CFRA, citing positive sales trends
CFRA upgraded the stock of Dick's Sporting Goods Inc. to hold from sell on Thursday, and raised its 12-month price target by $7 to $34."We raise our opinion given recent positive sales trends reported by some footwear and apparel brands sold at DKS," analyst Victor Ahluwalia wrote in a note. "Longer term, we remain concerned around margin pressure given Dick's price match guarantee, e-commerce currently being margin dilutive and the viability of private label." Earlier, Dick's said it is raising its quarterly dividend by 32% to 22.5 cents a share from 17 cents a share. The new dividend will be payable on March 30 to shareholders of record as of March 9. Shares were trading down 0.9%, and are down 33% in the last 12 months, while the S&P 500 has gained 15%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Dick's Sporting Goods boosts dividend by 32%
Dick's Sporting Goods Inc. said Thursday it will raise its quarterly dividend by 32% to 22.5 cents a share, from 17 cents a share. The new dividend will be payable on March 30 to shareholders of record on march 9. Based on Wednesday's stock closing price of $33.65, the new annual dividend rate of 90 cents a share, implies a dividend yield of 2.67%, compared with the payout yield for the SPDR S&P Retail ETF of 1.50% and the implied yield for the S&P 500 of 1.89%, according to FactSet. "The significant increase in our dividend demonstrates the strength of our balance sheet and the confidence we have in our company's future," said Dick's Chief Executive Edward Stack. The stock, which was little changed in premarket trade, has run up 25.3% over the past three months, while the retail ETF has climbed 14.8% and the S&P 500 has gained 5.2%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Dick's Sporting Goods to benefit from Eagles Super Bowl championship, new Little League bat regulations
Dick's Sporting Goods Inc. will benefit from two near-term same-store sales drivers, according to the latest note from J.P Morgan: the Eagles Super Bowl win and the new USA Baseball USABat Standard that will impact Little League. "From a similarities perspective, both the Cubs and Eagles have rabid fans that have been starved for a championship for decades," analysts wrote. About 4% of Dick's stores are in Illinois, and about 5% are in the eastern part of Pennsylvania, Delaware and South Jersey. NFL jerseys are popular items and are more expensive than baseball t-shirts, analysts say. According to data provided by inMarket, a geo-location marketing firm, Dick's traffic in Philadelphia was up 22% on Monday, February 5 versus the average Monday. J.P. Morgan expects about 100 basis-point same-store sales uplift from the big game. New bat regulations that impact Little League could give the first quarter a 50-to-75 basis point lift as all participating teams replace their bats. The boost is similar to a previous regulation change that affected high school and college baseball in 2012. J.P. Morgan rates Dick's shares overweight with a $43 price target. Dick's shares are up nearly 26% for the last three months, but down 40.1% for the last 12 months. The S&P 500 index is up 17.5% for the past year.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Under Armour's stock sinks after Susquehanna swings back to bearish rating
Shares of Under Armour Inc. sank 3.7% in premarket trade Tuesday, after the athletic gear and apparel maker was downgraded at Susquehanna Financial, which cited "poor" brand management, worsened by a promotional environment. Analyst Sam Poser cut his rating back to negative, after raising it to neutral two months ago. He kept his stock price target at $11, which is 31% below Monday's closing price of $15.98. "Despite ongoing evolution within the ranks of [Under Armour's] senior management, we believe, based on proprietary checks and our industry experience, that Under Armour's brand position will continue to weaken before it is clear if it can be salvaged," Poser wrote in a note to clients. "We contend that, in order to reaffirm [Under Armour's] place as an aspirational sports brand, all Under Armour product must be pulled from Kohl's, DSW, and Famous Footwear." He said advertisements for Under Armour products from the "moderate" retailers are causing "better" retailers such as Dick's Sporting Goods Inc. and Hibbett Sports Inc. to "plan their Under Armour businesses down." The stock has lost 4.0% over the past three months, while rival Nike Inc. shares have soared 25.3% and the S&P 500 has gained 8.0%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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