Academy Sports and Outdoors, Inc. $ASO Position Cut by Tensile Capital Management LP

Key Points

• Tensile Capital Management LP has reduced its position in Academy Sports and Outdoors by 46.5%, owning 282,039 shares after selling 245,000 shares during the first quarter.
• A number of brokerage firms have varying price targets for Academy Sports and Outdoors, with Loop Capital and Monness Crespi & Hardt setting a target of $65.00, while Citigroup reduced its target from $55.00 to $50.00.
• Academy Sports and Outdoors recently announced a quarterly dividend of $0.13, representing an annualized yield of 1.0%, with the ex-dividend date on September 11th.

Tensile Capital Management LP lowered its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 46.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 282,039 shares of the company's stock after selling 245,000 shares during the period. Academy Sports and Outdoors accounts for 1.6% of Tensile Capital Management LP's investment portfolio, making the stock its 16th biggest position. Tensile Capital Management LP owned about 0.42% of Academy Sports and Outdoors worth $12,864,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Teza Capital Management LLC acquired a new position in Academy Sports and Outdoors in the first quarter valued at $411,000. Shellback Capital LP raised its stake in shares of Academy Sports and Outdoors by 23.0% in the 1st quarter. Shellback Capital LP now owns 199,871 shares of the company's stock valued at $9,116,000 after acquiring an additional 37,371 shares during the period. Polar Asset Management Partners Inc. acquired a new position in shares of Academy Sports and Outdoors during the 1st quarter valued at $1,213,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Academy Sports and Outdoors by 3.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,472 shares of the company's stock worth $1,846,000 after purchasing an additional 1,257 shares during the period. Finally, Bridgeway Capital Management LLC acquired a new stake in Academy Sports and Outdoors in the 1st quarter valued at $2,914,000.

Insider Transactions at Academy Sports and Outdoors

In related news, Director Christopher Lee Turner sold 4,400 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $44.48, for a total transaction of $195,712.00. Following the transaction, the director directly owned 7,084 shares in the company, valued at $315,096.32. This trade represents a 38.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.62% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Cowen restated a "hold" rating on shares of Academy Sports and Outdoors in a research note on Wednesday, September 3rd. Truist Financial raised their target price on Academy Sports and Outdoors from $47.00 to $50.00 and gave the company a "hold" rating in a report on Wednesday, September 3rd. Guggenheim restated a "buy" rating and issued a $60.00 price target on shares of Academy Sports and Outdoors in a report on Monday. Wells Fargo & Company reiterated a "positive" rating on shares of Academy Sports and Outdoors in a research note on Wednesday, September 3rd. Finally, UBS Group reissued a "neutral" rating and set a $52.00 target price on shares of Academy Sports and Outdoors in a research report on Sunday, August 31st. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, Academy Sports and Outdoors presently has an average rating of "Moderate Buy" and an average price target of $58.78.

Academy Sports and Outdoors Stock Performance

ASO traded down $1.15 during trading hours on Friday, hitting $46.88. 727,106 shares of the stock were exchanged, compared to its average volume of 1,649,730. The stock has a 50-day simple moving average of $52.07 and a 200-day simple moving average of $46.28. Academy Sports and Outdoors, Inc. has a 12 month low of $33.34 and a 12 month high of $64.61. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 8.77, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.64 and a quick ratio of 0.33.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last announced its quarterly earnings data on Tuesday, June 10th. The company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.13). Academy Sports and Outdoors had a return on equity of 18.47% and a net margin of 6.21%.The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the business earned $1.08 earnings per share. The business's revenue for the quarter was down .9% compared to the same quarter last year. Analysts anticipate that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current year.

Academy Sports and Outdoors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 11th will be paid a dividend of $0.13 per share. The ex-dividend date is Thursday, September 11th. This represents a $0.52 annualized dividend and a yield of 1.1%. Academy Sports and Outdoors's dividend payout ratio (DPR) is 9.74%.

Academy Sports and Outdoors Company 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.