Billionaire Larry Robbins’ 10 Dividend Stock Picks

6. DICK’S Sporting Goods, Inc. (NYSE:DKS)

Glenview Capital’s Stake Value: $59,271,062

On May 28, JPMorgan upgraded DICK’S Sporting Goods, Inc. (NYSE:DKS) to Overweight from Neutral. It also raised its price target on the stock to $270 from $240. The analyst said the company’s fiscal Q1 report provides “strong support for the bull case.” In a research note, JPMorgan pointed out that Foot Locker returned to positive comparable sales during the quarter. The firm added that “We are a warm weekend away from the bears flipped to bulls.” JPMorgan also sees the upcoming World Cup as an additional catalyst for Dick’s shares.

Also on May 28, Wells Fargo raised its price recommendation on DKS to $220 from $200. It reiterated an Equal Weight rating. The firm said it saw more positives than negatives in the company’s Q1 results. According to Wells Fargo, Foot Locker U.S. posted positive comparable sales, and the fast-break initiative is producing tangible results that support expectations for a stronger back-to-school season. The firm also believes margin pressure at the core Dick’s Sporting Goods business should ease as the year progresses.

DICK’S Sporting Goods, Inc. (NYSE:DKS) is an omni-channel sporting goods retailer. The company owns and operates Golf Galaxy, Public Lands, and Going Going Gone! specialty concept stores. It also sells products online and through its mobile applications.

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