LSV Asset Management Reduces Position in Academy Sports and Outdoors, Inc. $ASO

LSV Asset Management trimmed its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 1.2% during the fourth quarter, Holdings Channel reports. The fund owned 3,058,855 shares of the company’s stock after selling 36,200 shares during the quarter. LSV Asset Management’s holdings in Academy Sports and Outdoors were worth $152,820,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP increased its position in shares of Academy Sports and Outdoors by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 3,879,904 shares of the company’s stock worth $194,077,000 after acquiring an additional 46,305 shares during the last quarter. American Century Companies Inc. increased its position in shares of Academy Sports and Outdoors by 6.1% during the third quarter. American Century Companies Inc. now owns 2,176,853 shares of the company’s stock worth $108,886,000 after acquiring an additional 125,398 shares during the last quarter. Royce & Associates LP grew its stake in Academy Sports and Outdoors by 4.3% in the third quarter. Royce & Associates LP now owns 1,329,347 shares of the company’s stock worth $66,494,000 after purchasing an additional 55,210 shares in the last quarter. Boston Partners increased its holdings in Academy Sports and Outdoors by 85.5% in the third quarter. Boston Partners now owns 1,302,141 shares of the company’s stock valued at $65,416,000 after buying an additional 600,335 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Academy Sports and Outdoors by 44.0% in the third quarter. Bank of America Corp DE now owns 781,116 shares of the company’s stock valued at $39,071,000 after buying an additional 238,778 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating and issued a $61.00 price objective on shares of Academy Sports and Outdoors in a report on Tuesday, March 17th. Stephens assumed coverage on Academy Sports and Outdoors in a report on Wednesday, May 13th. They issued an “overweight” rating and a $78.00 price objective for the company. UBS Group lowered their price objective on Academy Sports and Outdoors from $60.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. JPMorgan Chase & Co. boosted their price objective on Academy Sports and Outdoors from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, March 18th. Finally, Barclays boosted their price objective on Academy Sports and Outdoors from $49.00 to $55.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $59.87.

Insider Activity at Academy Sports and Outdoors

In other news, Director Jeffrey C. Tweedy sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $60.00, for a total transaction of $240,000.00. Following the completion of the transaction, the director directly owned 7,835 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Company insiders own 3.62% of the company’s stock.

Academy Sports and Outdoors Stock Performance

Shares of ASO stock opened at $52.52 on Friday. The company has a market cap of $3.39 billion, a P/E ratio of 9.45, a PEG ratio of 0.79 and a beta of 1.06. The business has a 50 day moving average of $54.57 and a two-hundred day moving average of $53.95. Academy Sports and Outdoors, Inc. has a 52 week low of $39.87 and a 52 week 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 posted its earnings results on Tuesday, March 17th. The company reported $1.97 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.08). The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.76 billion. Academy Sports and Outdoors had a net margin of 6.22% and a return on equity of 17.88%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $1.96 earnings per share. As a group, analysts anticipate that Academy Sports and Outdoors, Inc. will post 5.95 EPS for the current year.

Academy Sports and Outdoors Increases Dividend

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

Academy Sports and Outdoors Company 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.