Fmr LLC Raises Position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Fmr LLC lifted its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 15.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,739,463 shares of the company’s stock after purchasing an additional 1,422,971 shares during the period. Fmr LLC owned 0.15% of Academy Sports and Outdoors worth $626,755,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Pacer Advisors Inc. purchased a new position in Academy Sports and Outdoors during the second quarter valued at approximately $174,054,000. Dimensional Fund Advisors LP raised its position in shares of Academy Sports and Outdoors by 19.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,969,886 shares of the company’s stock valued at $158,147,000 after purchasing an additional 481,640 shares during the period. LSV Asset Management lifted its stake in shares of Academy Sports and Outdoors by 4.2% during the 2nd quarter. LSV Asset Management now owns 1,721,741 shares of the company’s stock valued at $91,683,000 after buying an additional 69,700 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in Academy Sports and Outdoors by 1.9% in the 2nd quarter. King Luther Capital Management Corp now owns 1,613,209 shares of the company’s stock worth $85,903,000 after buying an additional 29,912 shares during the period. Finally, Westwood Holdings Group Inc. increased its stake in Academy Sports and Outdoors by 7.3% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,331,744 shares of the company’s stock worth $70,915,000 after buying an additional 90,651 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ASO shares. Truist Financial downgraded Academy Sports and Outdoors from a “buy” rating to a “hold” rating and lowered their price objective for the company from $63.00 to $50.00 in a research report on Tuesday, November 19th. Telsey Advisory Group restated an “outperform” rating and issued a $65.00 price target on shares of Academy Sports and Outdoors in a research note on Thursday, September 5th. Jefferies Financial Group cut their price objective on shares of Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Wells Fargo & Company boosted their target price on shares of Academy Sports and Outdoors from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 target price on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.57.

Insider Buying and Selling at Academy Sports and Outdoors

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total transaction of $74,400.00. Following the transaction, the director now directly owns 8,906 shares in the company, valued at approximately $552,172. This represents a 11.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.19% of the company’s stock.

Academy Sports and Outdoors Stock Performance

Academy Sports and Outdoors stock opened at $48.85 on Friday. The company has a quick ratio of 0.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. Academy Sports and Outdoors, Inc. has a twelve month low of $44.73 and a twelve month high of $75.73. The company’s 50-day moving average price is $53.24 and its 200-day moving average price is $53.73. The company has a market cap of $3.43 billion, a PE ratio of 7.54, a price-to-earnings-growth ratio of 0.95 and a beta of 1.37.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings data on Tuesday, September 10th. The company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.07. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.01 earnings per share. On average, equities research analysts forecast that Academy Sports and Outdoors, Inc. will post 6.01 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Thursday, September 19th. Academy Sports and Outdoors’s payout ratio is 6.79%.

About Academy Sports and Outdoors

Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational retailer in the United States. The company outdoor division comprises camping products, such as coolers and drinkware, and camping accessories and equipment,; fishing products, including marine equipment and fishing rods, reels, and baits and equipment; and hunting products, which includes firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, gun safes, optics, airguns, and hunting equipment.