Academy Sports and Outdoors, Inc. $ASO Stock Holdings Cut by Fifth Third Bancorp

Fifth Third Bancorp reduced its position in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 99.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 574 shares of the company’s stock after selling 57,789 shares during the quarter. Fifth Third Bancorp’s holdings in Academy Sports and Outdoors were worth $29,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ASO. Junto Capital Management LP acquired a new stake in shares of Academy Sports and Outdoors during the 3rd quarter valued at $36,567,000. Boston Partners lifted its position in shares of Academy Sports and Outdoors by 85.5% during the 3rd quarter. Boston Partners now owns 1,302,141 shares of the company’s stock valued at $65,416,000 after acquiring an additional 600,335 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Academy Sports and Outdoors by 219.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 501,028 shares of the company’s stock valued at $22,452,000 after acquiring an additional 344,376 shares during the last quarter. Voloridge Investment Management LLC lifted its position in shares of Academy Sports and Outdoors by 6,156.4% during the 3rd quarter. Voloridge Investment Management LLC now owns 344,788 shares of the company’s stock valued at $17,246,000 after acquiring an additional 339,277 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Academy Sports and Outdoors by 44.0% during the 3rd quarter. Bank of America Corp DE now owns 781,116 shares of the company’s stock valued at $39,071,000 after acquiring an additional 238,778 shares during the last quarter.

Insider Activity

In other news, Director Jeffrey C. Tweedy sold 4,000 shares of the stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $60.00, for a total value of $240,000.00. Following the completion of the sale, the director owned 7,835 shares in the company, valued at $470,100. This represents a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.62% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ASO shares. Jefferies Financial Group reiterated a “buy” rating and set a $61.00 price objective on shares of Academy Sports and Outdoors in a research report on Tuesday, March 17th. Barclays increased their price objective on Academy Sports and Outdoors from $49.00 to $55.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 8th. Wells Fargo & Company increased their price objective on Academy Sports and Outdoors from $52.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 8th. Truist Financial set a $54.00 price objective on Academy Sports and Outdoors in a research report on Monday, April 20th. Finally, UBS Group cut their price objective on Academy Sports and Outdoors from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Six analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $58.57.

Academy Sports and Outdoors Price Performance

ASO opened at $54.11 on Monday. The stock has a fifty day moving average of $56.56 and a 200-day moving average of $53.82. The firm has a market capitalization of $3.49 billion, a P/E ratio of 9.73, a PEG ratio of 0.84 and a beta of 1.06. Academy Sports and Outdoors, Inc. has a 12-month low of $39.14 and a 12-month high of $62.44. The company has a quick ratio of 0.44, a current ratio of 1.89 and a debt-to-equity ratio of 0.22.

Academy Sports and Outdoors (NASDAQ:ASO) last released its earnings results on Tuesday, March 17th. The company reported $1.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.08). The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Academy Sports and Outdoors had a net margin of 6.22% and a return on equity of 17.88%. Academy Sports and Outdoors’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.96 EPS. Equities analysts forecast that Academy Sports and Outdoors, Inc. will post 5.95 EPS for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Friday, March 20th were issued a $0.15 dividend. The ex-dividend date was Friday, March 20th. This is an increase from Academy Sports and Outdoors’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. Academy Sports and Outdoors’s dividend payout ratio is currently 10.79%.

Academy Sports and Outdoors Profile

Academy Sports and Outdoors is a leading specialty retailer of sporting goods and outdoor gear, operating more than 260 stores across the United States. Headquartered in Katy, Texas, the company offers a broad assortment of merchandise spanning athletic footwear and apparel, team sports equipment, camping and outdoor recreation products, hunting and fishing supplies, and fitness accessories. In addition to its brick-and-mortar footprint, Academy serves customers through its e-commerce platform, offering online ordering, in-store pickup, and home delivery options.

The company’s product portfolio includes seasonal and year-round categories designed to meet the needs of both casual enthusiasts and serious athletes.