Bank of America Corp DE Sells 13,673 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Bank of America Corp DE cut its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 550,039 shares of the company's stock after selling 13,673 shares during the period. Bank of America Corp DE owned approximately 0.79% of Academy Sports and Outdoors worth $31,644,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ASO. Dimensional Fund Advisors LP increased its stake in shares of Academy Sports and Outdoors by 12.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,699,015 shares of the company's stock worth $212,807,000 after purchasing an additional 404,863 shares during the period. Pacer Advisors Inc. increased its position in Academy Sports and Outdoors by 8.1% in the 4th quarter. Pacer Advisors Inc. now owns 2,649,276 shares of the company's stock worth $152,413,000 after buying an additional 197,384 shares during the period. LSV Asset Management lifted its holdings in shares of Academy Sports and Outdoors by 14.2% during the fourth quarter. LSV Asset Management now owns 1,940,041 shares of the company's stock worth $111,611,000 after buying an additional 241,100 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Academy Sports and Outdoors by 77.2% in the fourth quarter. American Century Companies Inc. now owns 1,252,699 shares of the company's stock valued at $72,068,000 after acquiring an additional 545,778 shares during the period. Finally, Royce & Associates LP grew its stake in shares of Academy Sports and Outdoors by 23.5% in the fourth quarter. Royce & Associates LP now owns 1,174,576 shares of the company's stock worth $67,573,000 after acquiring an additional 223,320 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ASO shares. Oppenheimer reduced their price target on shares of Academy Sports and Outdoors from $85.00 to $70.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Robert W. Baird dropped their price objective on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. B. Riley decreased their target price on shares of Academy Sports and Outdoors from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Loop Capital lowered their target price on shares of Academy Sports and Outdoors from $77.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Morgan Stanley cut their price target on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set an "equal weight" 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 given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $57.75.

Academy Sports and Outdoors Price Performance

Shares of ASO traded down $2.15 during mid-day trading on Wednesday, hitting $42.52. 729,398 shares of the company traded hands, compared to its average volume of 1,639,098. 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 current ratio of 1.57, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average of $41.53 and a 200 day moving average of $48.59. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 6.97, a PEG ratio of 1.02 and a beta of 1.29.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the company earned $2.21 EPS. The business's quarterly revenue was down 6.6% compared to the same quarter last year. As a group, equities analysts expect that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, March 25th were paid a $0.13 dividend. This is a positive change from Academy Sports and Outdoors's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, March 25th. This represents a $0.52 annualized dividend and a yield of 1.22%. Academy Sports and Outdoors's dividend payout ratio is presently 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.