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

Bank of America Corp DE cut its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 550,039 shares of the company's stock after selling 13,673 shares during the period. Bank of America Corp DE owned 0.79% of Academy Sports and Outdoors worth $31,644,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research firms have recently issued reports on ASO. JPMorgan Chase & Co. raised their price target on shares of Academy Sports and Outdoors from $52.00 to $54.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Wedbush dropped their target price on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. B. Riley decreased their price objective on Academy Sports and Outdoors from $70.00 to $65.00 and set a "buy" rating for the company in a report on Friday, March 21st. UBS Group dropped their price target on shares of Academy Sports and Outdoors from $58.00 to $55.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 18th. Finally, Morgan Stanley cut their price objective on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set an "equal weight" rating on the stock in a report on Friday, March 21st. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $57.75.

Academy Sports and Outdoors Trading Down 1.1%

Shares of NASDAQ:ASO traded down $0.48 during trading on Thursday, reaching $41.91. 116,725 shares of the company traded hands, compared to its average volume of 1,637,915. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 6.89, a P/E/G ratio of 1.02 and a beta of 1.29. Academy Sports and Outdoors, Inc. has a 52-week low of $33.34 and a 52-week 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's fifty day moving average is $41.48 and its 200-day moving average is $48.55.

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

Academy Sports and Outdoors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, March 25th were issued a $0.13 dividend. This is an increase 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 dividend on an annualized basis and a yield of 1.24%. Academy Sports and Outdoors's dividend payout ratio is 9.01%.

Academy Sports and Outdoors Profile

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.