Fintel reports that on August 23, 2023, B of A Securities downgraded their outlook for Dicks Sporting Goods (NYSE:DKS) from Buy to Neutral.

Analyst Price Forecast Suggests 43.13% Upside

As of August 2, 2023, the average one-year price target for Dicks Sporting Goods is 159.63. The forecasts range from a low of 136.35 to a high of $210.00. The average price target represents an increase of 43.13% from its latest reported closing price of 111.53.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Dicks Sporting Goods is 12,512MM, a decrease of 0.87%. The projected annual non-GAAP EPS is 12.19.

What is the Fund Sentiment?

There are 1102 funds or institutions reporting positions in Dicks Sporting Goods. This is an increase of 46 owner(s) or 4.36% in the last quarter. Average portfolio weight of all funds dedicated to DKS is 0.24%, a decrease of 8.33%. Total shares owned by institutions decreased in the last three months by 2.17% to 64,156K shares. The put/call ratio of DKS is 1.32, indicating a bearish outlook.

What are Other Shareholders Doing?

Lone Pine Capital holds 3,266K shares representing 3.79% ownership of the company. In it’s prior filing, the firm reported owning 4,566K shares, representing a decrease of 39.79%. The firm decreased its portfolio allocation in DKS by 34.02% over the last quarter.

FCNTX – Fidelity Contrafund holds 2,395K shares representing 2.78% ownership of the company. In it’s prior filing, the firm reported owning 2,362K shares, representing an increase of 1.37%. The firm increased its portfolio allocation in DKS by 11.03% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 1,846K shares representing 2.14% ownership of the company. In it’s prior filing, the firm reported owning 1,717K shares, representing an increase of 6.99%. The firm increased its portfolio allocation in DKS by 21.38% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,758K shares representing 2.04% ownership of the company. In it’s prior filing, the firm reported owning 1,725K shares, representing an increase of 1.91%. The firm increased its portfolio allocation in DKS by 11.04% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 1,488K shares representing 1.73% ownership of the company. In it’s prior filing, the firm reported owning 1,465K shares, representing an increase of 1.56%. The firm increased its portfolio allocation in DKS by 15.00% 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 article originally appeared on Fintel

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