Academy Sports and Outdoors, Inc. $ASO Shares Newly Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 433,572 shares of Academy Sports and Outdoors in the second quarter, worth approximately $20.4 million and representing about 0.70% of the company.
• Academy reported quarterly EPS of $2.31, exceeding the $2.07 analyst consensus, while revenue reached $1.65 billion, up 3% year over year. The company also announced a $0.15 quarterly dividend, equivalent to a 1.2% yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $58.29, but insiders sold 106,315 shares worth approximately $5.6 million over the past 90 days.

Bank of America Corp DE acquired a new position in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 433,572 shares of the company's stock, valued at approximately $20,434,000. Bank of America Corp DE owned about 0.70% of Academy Sports and Outdoors as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in shares of Academy Sports and Outdoors by 2.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,464 shares of the company's stock worth $373,000 after acquiring an additional 202 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Academy Sports and Outdoors by 38.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 921 shares of the company's stock valued at $52,000 after purchasing an additional 258 shares during the last quarter. Dupree Financial Group LLC raised its stake in Academy Sports and Outdoors by 0.4% during the 1st quarter. Dupree Financial Group LLC now owns 90,170 shares of the company's stock valued at $5,090,000 after purchasing an additional 379 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Academy Sports and Outdoors by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 12,900 shares of the company's stock valued at $644,000 after purchasing an additional 393 shares during the period. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in Academy Sports and Outdoors in the 2nd quarter valued at $38,000.

Academy Sports and Outdoors Stock Performance

NASDAQ ASO opened at $48.13 on Friday. Academy Sports and Outdoors, Inc. has a twelve month low of $41.29 and a twelve month high of $62.44. The company has a quick ratio of 0.35, a current ratio of 1.74 and a debt-to-equity ratio of 0.23. The stock has a market cap of $2.96 billion, a P/E ratio of 8.02, a PEG ratio of 0.69 and a beta of 1.02. The company's 50-day simple moving average is $47.71 and its 200 day simple moving average is $50.91.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.07 by $0.24. The firm had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.65 billion. Academy Sports and Outdoors had a net margin of 6.39% and a return on equity of 18.36%. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.94 earnings per share. Academy Sports and Outdoors has set its FY 2026 guidance at 6.500-6.900 EPS. As a group, research analysts forecast that Academy Sports and Outdoors, Inc. will post 6.21 earnings per share for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 16th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.2%. Academy Sports and Outdoors's dividend payout ratio is presently 10.00%.

Insider Activity at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, President Samuel Johnson sold 70,303 shares of the company's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $51.79, for a total value of $3,640,992.37. Following the sale, the president directly owned 36,861 shares in the company, valued at $1,909,031.19. This represents a 65.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brian T. Marley sold 10,432 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $53.25, for a total value of $555,504.00. Following the transaction, the director owned 32,607 shares of the company's stock, valued at $1,736,322.75. This represents a 24.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 106,315 shares of company stock valued at $5,576,537 in the last 90 days. 4.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ASO has been the topic of several research reports. Telsey Advisory Group boosted their price objective on shares of Academy Sports and Outdoors from $60.00 to $63.00 and gave the stock an "outperform" rating in a report on Thursday, September 10th. BMO Capital Markets set a $42.00 target price on shares of Academy Sports and Outdoors and gave the company a "market perform" rating in a research note on Thursday, September 10th. The Goldman Sachs Group decreased their target price on Academy Sports and Outdoors from $67.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, June 10th. Wells Fargo & Company upgraded Academy Sports and Outdoors from a "hold" rating to a "buy" rating in a research note on Thursday, September 10th. Finally, Weiss Ratings raised Academy Sports and Outdoors from a "sell (d+)" rating to a "hold (c)" rating in a report on Thursday, September 17th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Academy Sports and Outdoors currently has an average rating of "Moderate Buy" and an average price target of $58.29.

Academy Sports and Outdoors Profile

Academy Sports and Outdoors, Inc is a sporting goods and outdoor recreation retailer based in Katy, Texas. The company operates stores and an e-commerce platform serving customers across the southern, southeastern and midwestern United States.

Its merchandise includes sporting goods and equipment, outdoor and adventure products, hunting and fishing gear, athletic and casual footwear, apparel, and related accessories. Academy serves a broad customer base through a value-oriented assortment of national brands and private-label products.

The company traces its history to 1938, when it was founded in San Antonio, Texas, as a small tire shop.

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