Academy Sports and Outdoors, Inc. $ASO Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Academy Sports and Outdoors by 4.1%, now holding approximately 743,348 shares valued at $33.9 million.
• Academy Sports and Outdoors reported Q1 earnings of $0.76 per share, falling short of estimates, with revenues of $1.35 billion, down 0.9% year-over-year.
• The company announced a quarterly dividend of $0.13 per share, reflecting an annualized yield of 1.0% and a dividend payout ratio of 9.56%.

Northern Trust Corp lowered its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 743,348 shares of the company's stock after selling 31,563 shares during the quarter. Northern Trust Corp owned approximately 1.12% of Academy Sports and Outdoors worth $33,904,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in ASO. Principal Financial Group Inc. boosted its holdings in shares of Academy Sports and Outdoors by 1.3% in the 1st quarter. Principal Financial Group Inc. now owns 345,718 shares of the company's stock worth $15,768,000 after purchasing an additional 4,279 shares in the last quarter. Fund 1 Investments LLC purchased a new stake in shares of Academy Sports and Outdoors during the fourth quarter worth about $4,929,000. Allspring Global Investments Holdings LLC increased its stake in shares of Academy Sports and Outdoors by 4.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 6,422 shares of the company's stock valued at $299,000 after buying an additional 283 shares during the period. GAMMA Investing LLC raised its holdings in Academy Sports and Outdoors by 10,181.5% in the 1st quarter. GAMMA Investing LLC now owns 127,799 shares of the company's stock worth $5,829,000 after purchasing an additional 126,556 shares in the last quarter. Finally, Interval Partners LP purchased a new stake in Academy Sports and Outdoors in the fourth quarter worth about $8,917,000.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of Academy Sports and Outdoors from $47.00 to $50.00 and gave the stock a "hold" rating in a research report on Wednesday. Monness Crespi & Hardt started coverage on shares of Academy Sports and Outdoors in a report on Monday, August 4th. They issued a "buy" rating and a $65.00 price objective on the stock. Bank of America reduced their price objective on Academy Sports and Outdoors from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Wednesday, June 11th. Morgan Stanley dropped their target price on Academy Sports and Outdoors from $55.00 to $52.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 11th. Finally, Wells Fargo & Company reissued a "positive" rating on shares of Academy Sports and Outdoors in a research note on Wednesday. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $58.71.

Insider Buying and Selling

In other news, Director Christopher Lee Turner sold 4,400 shares of the business's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $44.48, for a total value of $195,712.00. Following the completion of the transaction, the director directly owned 7,084 shares of the company's stock, valued at approximately $315,096.32. The trade was a 38.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.62% of the stock is owned by company insiders.

Academy Sports and Outdoors Price Performance

Shares of NASDAQ:ASO traded up $0.30 during trading on Thursday, hitting $50.04. 1,684,277 shares of the company's stock were exchanged, compared to its average volume of 1,520,034. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.64 and a quick ratio of 0.29. Academy Sports and Outdoors, Inc. has a 52-week low of $33.34 and a 52-week high of $64.61. The business's 50-day simple moving average is $51.80 and its 200 day simple moving average is $46.35. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 0.94 and a beta of 1.30.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.13). Academy Sports and Outdoors had a net margin of 6.21% and a return on equity of 18.47%. The firm had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the prior year, the company posted $1.08 EPS. The company's revenue was down .9% compared to the same quarter last year. Academy Sports and Outdoors has set its FY 2025 guidance at 5.450-6.25 EPS. As a group, equities analysts predict that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 11th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, September 11th. Academy Sports and Outdoors's dividend payout ratio (DPR) 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.