Academy Sports and Outdoors, Inc. $ASO Stock Holdings Trimmed by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp sharply cut its stake in Academy Sports and Outdoors by 99% in the fourth quarter, selling 57,789 shares and ending with just 574 shares valued at about $29,000.
• Academy Sports reported mixed quarterly results, missing both earnings and revenue estimates with EPS of $1.97 versus $2.05 expected and revenue of $1.72 billion versus $1.76 billion expected, though revenue still rose 2.5% year over year.
• The company raised its dividend and remains moderately viewed by analysts, increasing the quarterly payout to $0.15 per share, while the stock currently carries a consensus “Hold” rating with a target price of $58.57.

Fifth Third Bancorp reduced its position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 99.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 574 shares of the company's stock after selling 57,789 shares during the quarter. Fifth Third Bancorp's holdings in Academy Sports and Outdoors were worth $29,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Verity Asset Management Inc. lifted its position in Academy Sports and Outdoors by 0.6% in the 4th quarter. Verity Asset Management Inc. now owns 32,788 shares of the company's stock valued at $1,638,000 after purchasing an additional 182 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Academy Sports and Outdoors by 15.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,708 shares of the company's stock worth $85,000 after purchasing an additional 234 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Academy Sports and Outdoors by 32.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,025 shares of the company's stock worth $51,000 after purchasing an additional 252 shares during the last quarter. Salomon & Ludwin LLC grew its position in Academy Sports and Outdoors by 139.8% in the 4th quarter. Salomon & Ludwin LLC now owns 482 shares of the company's stock worth $26,000 after purchasing an additional 281 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Academy Sports and Outdoors by 6.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,604 shares of the company's stock worth $230,000 after purchasing an additional 285 shares during the last quarter.

Academy Sports and Outdoors Stock Performance

Shares of ASO stock opened at $54.11 on Monday. Academy Sports and Outdoors, Inc. has a 12-month low of $39.14 and a 12-month high of $62.44. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 0.84 and a beta of 1.06. The business has a 50 day simple moving average of $56.56 and a 200 day simple moving average of $53.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.89 and a quick ratio of 0.44.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last issued its quarterly earnings results on Tuesday, March 17th. The company reported $1.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.05 by ($0.08). The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.76 billion. Academy Sports and Outdoors had a net margin of 6.22% and a return on equity of 17.88%. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.96 earnings per share. On average, equities research analysts anticipate that Academy Sports and Outdoors, Inc. will post 5.95 EPS for the current year.

Academy Sports and Outdoors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 20th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, March 20th. This is an increase from Academy Sports and Outdoors's previous quarterly dividend of $0.13. Academy Sports and Outdoors's dividend payout ratio is 10.79%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ASO. Truist Financial set a $54.00 price objective on Academy Sports and Outdoors in a report on Monday, April 20th. Guggenheim increased their price objective on Academy Sports and Outdoors from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, April 8th. JPMorgan Chase & Co. increased their price objective on Academy Sports and Outdoors from $56.00 to $60.00 and gave the stock a "neutral" rating in a report on Wednesday, March 18th. Wells Fargo & Company increased their price objective on Academy Sports and Outdoors from $52.00 to $56.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 8th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $61.00 price objective on shares of Academy Sports and Outdoors in a report on Tuesday, March 17th. Six equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $58.57.

Insider Transactions at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 4,000 shares of the stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $60.00, for a total transaction of $240,000.00. Following the completion of the transaction, the director directly owned 7,835 shares of the company's stock, valued at approximately $470,100. This trade represents a 33.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.62% of the company's stock.

About Academy Sports and Outdoors

Academy Sports and Outdoors is a leading specialty retailer of sporting goods and outdoor gear, operating more than 260 stores across the United States. Headquartered in Katy, Texas, the company offers a broad assortment of merchandise spanning athletic footwear and apparel, team sports equipment, camping and outdoor recreation products, hunting and fishing supplies, and fitness accessories. In addition to its brick-and-mortar footprint, Academy serves customers through its e-commerce platform, offering online ordering, in-store pickup, and home delivery options.

The company's product portfolio includes seasonal and year-round categories designed to meet the needs of both casual enthusiasts and serious athletes.

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