Royce & Associates LP Reduces Stock Position in Academy Sports and Outdoors, Inc. $ASO

Royce & Associates LP reduced its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 13.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,151,937 shares of the company’s stock after selling 177,410 shares during the quarter. Academy Sports and Outdoors accounts for about 0.6% of Royce & Associates LP’s investment portfolio, making the stock its 28th largest holding. Royce & Associates LP’s holdings in Academy Sports and Outdoors were worth $57,551,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ASO. Salomon & Ludwin LLC lifted its stake in shares of Academy Sports and Outdoors by 139.8% during the 4th quarter. Salomon & Ludwin LLC now owns 482 shares of the company’s stock valued at $26,000 after buying an additional 281 shares in the last quarter. Huntington National Bank lifted its stake in shares of Academy Sports and Outdoors by 47.3% during the 3rd quarter. Huntington National Bank now owns 1,015 shares of the company’s stock valued at $51,000 after buying an additional 326 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Academy Sports and Outdoors during the 4th quarter valued at approximately $51,000. Hantz Financial Services Inc. increased its holdings in Academy Sports and Outdoors by 117.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,113 shares of the company’s stock worth $56,000 after acquiring an additional 602 shares during the period. Finally, Advisory Services Network LLC bought a new stake in Academy Sports and Outdoors during the 3rd quarter worth approximately $61,000.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ASO. Stephens began coverage on shares of Academy Sports and Outdoors in a report on Wednesday, May 13th. They set an “overweight” rating and a $78.00 target price on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $65.00 target price on shares of Academy Sports and Outdoors in a report on Tuesday, March 17th. Guggenheim upped their target price on shares of Academy Sports and Outdoors from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. JPMorgan Chase & Co. upped their target price on shares of Academy Sports and Outdoors from $56.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, March 18th. Finally, Truist Financial set a $54.00 target price on shares of Academy Sports and Outdoors in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $59.87.

Insider Activity at Academy Sports and Outdoors

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

Academy Sports and Outdoors Stock Performance

Academy Sports and Outdoors stock opened at $52.52 on Tuesday. The firm’s 50 day simple moving average is $54.52 and its 200 day simple moving average is $54.04. The company has a current ratio of 1.89, a quick ratio of 0.44 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $3.39 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 0.81 and a beta of 1.06. Academy Sports and Outdoors, Inc. has a 1-year low of $39.87 and a 1-year high of $62.44.

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

Academy Sports and Outdoors Increases Dividend

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

About Academy Sports and Outdoors

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.