King Luther Capital Management Corp Buys 176,463 Shares of Academy Sports and Outdoors, Inc. $ASO

King Luther Capital Management Corp lifted its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 12.6% during the fourth quarter, Holdings Channel reports. The fund owned 1,573,073 shares of the company’s stock after acquiring an additional 176,463 shares during the quarter. King Luther Capital Management Corp’s holdings in Academy Sports and Outdoors were worth $78,591,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Verity Asset Management Inc. grew its stake in shares of Academy Sports and Outdoors by 0.6% during the fourth quarter. Verity Asset Management Inc. now owns 32,788 shares of the company’s stock worth $1,638,000 after purchasing an additional 182 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Academy Sports and Outdoors by 2.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,464 shares of the company’s stock worth $373,000 after purchasing an additional 202 shares during the period. Cullen Frost Bankers Inc. grew its stake in shares of Academy Sports and Outdoors by 3.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,599 shares of the company’s stock worth $280,000 after purchasing an additional 202 shares during the period. Salomon & Ludwin LLC grew its stake in shares of Academy Sports and Outdoors by 139.8% during the fourth quarter. Salomon & Ludwin LLC now owns 482 shares of the company’s stock worth $26,000 after purchasing an additional 281 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Academy Sports and Outdoors by 6.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,604 shares of the company’s stock worth $230,000 after purchasing an additional 285 shares during the period.

Academy Sports and Outdoors Stock Up 3.8%

ASO stock opened at $54.53 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.89 and a quick ratio of 0.44. The stock has a market capitalization of $3.52 billion, a P/E ratio of 9.81, a P/E/G ratio of 0.81 and a beta of 1.06. The business has a 50-day moving average of $54.48 and a 200-day moving average of $54.09. Academy Sports and Outdoors, Inc. has a fifty-two week low of $39.87 and a fifty-two week high of $62.44.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its quarterly earnings data on Tuesday, March 17th. The company reported $1.97 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.08). The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.76 billion. Academy Sports and Outdoors had a return on equity of 17.88% and a net margin of 6.22%.The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.96 earnings per share. On average, sell-side analysts anticipate 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 company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Friday, March 20th were given a dividend of $0.15 per share. This is an increase from Academy Sports and Outdoors’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, March 20th. Academy Sports and Outdoors’s payout ratio is currently 10.79%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ASO shares. Truist Financial set a $54.00 price objective on Academy Sports and Outdoors in a research note on Monday, April 20th. JPMorgan Chase & Co. lifted their price objective on Academy Sports and Outdoors from $56.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 18th. Barclays lifted their price objective on Academy Sports and Outdoors from $49.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. B. Riley Financial reaffirmed a “buy” rating on shares of Academy Sports and Outdoors in a research note on Wednesday, April 8th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $65.00 target price on shares of Academy Sports and Outdoors in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $59.87.

Insider Buying and Selling at Academy Sports and Outdoors

In other news, Director Jeffrey C. Tweedy sold 4,000 shares of the company’s stock in a transaction dated 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 $470,100. This represents a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.62% of the stock is owned by corporate insiders.

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.