Focus Partners Wealth Sells 23,619 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Focus Partners Wealth cut its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 40.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,314 shares of the company's stock after selling 23,619 shares during the period. Focus Partners Wealth's holdings in Academy Sports and Outdoors were worth $1,974,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ASO. Spring Capital Management LLC bought a new position in Academy Sports and Outdoors during the fourth quarter worth about $288,000. Crossmark Global Holdings Inc. boosted its stake in shares of Academy Sports and Outdoors by 3.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 9,608 shares of the company's stock worth $553,000 after acquiring an additional 362 shares during the period. Blue Trust Inc. increased its holdings in shares of Academy Sports and Outdoors by 14.8% during the 4th quarter. Blue Trust Inc. now owns 2,591 shares of the company's stock worth $151,000 after acquiring an additional 334 shares during the last quarter. KBC Group NV increased its holdings in shares of Academy Sports and Outdoors by 88.4% during the 4th quarter. KBC Group NV now owns 3,926 shares of the company's stock worth $226,000 after acquiring an additional 1,842 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC lifted its holdings in Academy Sports and Outdoors by 150.0% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 57,886 shares of the company's stock valued at $3,332,000 after purchasing an additional 34,731 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ASO shares. Loop Capital reduced their target price on shares of Academy Sports and Outdoors from $77.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company boosted their price objective on shares of Academy Sports and Outdoors from $38.00 to $43.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Truist Financial set a $45.00 price objective on shares of Academy Sports and Outdoors in a research note on Wednesday, May 7th. JPMorgan Chase & Co. boosted their target price on shares of Academy Sports and Outdoors from $52.00 to $54.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Finally, B. Riley dropped their price target on Academy Sports and Outdoors from $70.00 to $65.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $57.75.

Academy Sports and Outdoors Stock Down 1.1%

ASO traded down $0.48 during trading on Tuesday, reaching $44.66. The stock had a trading volume of 1,124,555 shares, compared to its average volume of 1,641,674. Academy Sports and Outdoors, Inc. has a one year low of $33.34 and a one year high of $64.62. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 7.33, a P/E/G ratio of 1.02 and a beta of 1.29. The company has a current ratio of 1.57, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25. The stock's 50 day moving average is $41.51 and its two-hundred day moving average is $48.62.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.14. Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the firm earned $2.21 EPS. Academy Sports and Outdoors's quarterly revenue was down 6.6% compared to the same quarter last year. As a group, analysts expect that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current year.

Academy Sports and Outdoors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Tuesday, March 25th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.16%. This is a positive change from Academy Sports and Outdoors's previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, March 25th. Academy Sports and Outdoors's payout ratio is 9.01%.

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.