Academy Sports and Outdoors, Inc. $ASO Shares Purchased by Greatmark Investment Partners Inc.

Key Points

• Greatmark Investment Partners Inc. increased its stake in Academy Sports and Outdoors by 24.6%, raising its total holdings to 507,040 shares valued at $22.7 million.
• Academy Sports reported a quarterly EPS of $1.82, missing estimates by $0.32, with a revenue of $1.60 billion for the quarter.
• The company declared a quarterly dividend of $0.13 per share, representing an annualized yield of 1.0% and a payout ratio of 9.74%.

Greatmark Investment Partners Inc. raised its position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 24.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 507,040 shares of the company's stock after acquiring an additional 100,225 shares during the period. Academy Sports and Outdoors makes up 2.9% of Greatmark Investment Partners Inc.'s investment portfolio, making the stock its 10th largest holding. Greatmark Investment Partners Inc. owned 0.76% of Academy Sports and Outdoors worth $22,720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ASO. Stephens Investment Management Group LLC boosted its stake in Academy Sports and Outdoors by 23.9% in the 2nd quarter. Stephens Investment Management Group LLC now owns 1,177,518 shares of the company's stock worth $52,765,000 after buying an additional 227,422 shares during the last quarter. Dupree Financial Group LLC lifted its holdings in Academy Sports and Outdoors by 103.1% during the 2nd quarter. Dupree Financial Group LLC now owns 123,351 shares of the company's stock worth $5,527,000 after buying an additional 62,607 shares during the last quarter. William Blair Investment Management LLC boosted its stake in Academy Sports and Outdoors by 45.2% in the second quarter. William Blair Investment Management LLC now owns 1,440,032 shares of the company's stock valued at $64,528,000 after acquiring an additional 448,582 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of Academy Sports and Outdoors by 5.9% in the 2nd quarter. Allianz Asset Management GmbH now owns 201,179 shares of the company's stock worth $9,015,000 after acquiring an additional 11,147 shares during the period. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Academy Sports and Outdoors during the 2nd quarter valued at $452,000.

Analysts Set New Price Targets

ASO has been the subject of a number of recent analyst reports. Barclays started coverage on Academy Sports and Outdoors in a research report on Tuesday, September 30th. They issued an "equal weight" rating and a $51.00 price target for the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Academy Sports and Outdoors in a research note on Wednesday, October 8th. Monness Crespi & Hardt assumed coverage on shares of Academy Sports and Outdoors in a research report on Monday, August 4th. They set a "buy" rating and a $65.00 price objective for the company. Truist Financial upped their price objective on Academy Sports and Outdoors from $47.00 to $50.00 and gave the stock a "hold" rating in a research note on Wednesday, September 3rd. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $65.00 price target on shares of Academy Sports and Outdoors in a research note on Tuesday, September 2nd. Nine equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, Academy Sports and Outdoors currently has a consensus rating of "Hold" and a consensus target price of $58.37.

Academy Sports and Outdoors Stock Down 0.2%

ASO opened at $50.47 on Wednesday. Academy Sports and Outdoors, Inc. has a twelve month low of $33.34 and a twelve month high of $61.25. The company's 50-day moving average price is $51.15 and its two-hundred day moving average price is $46.88. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 1.02 and a beta of 1.28. The company has a quick ratio of 0.33, a current ratio of 1.64 and a debt-to-equity ratio of 0.23.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released its quarterly earnings data on Tuesday, September 2nd. The company reported $1.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.14 by ($0.32). The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.61 billion. Academy Sports and Outdoors had a net margin of 6.21% and a return on equity of 18.47%. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.03 earnings per share. Academy Sports and Outdoors has set its FY 2025 guidance at 5.600-6.30 EPS. As a group, equities analysts expect that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 11th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, September 11th. Academy Sports and Outdoors's dividend payout ratio is presently 9.74%.

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.

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