Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Shares Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 64.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 43,817 shares of the company's stock after purchasing an additional 17,205 shares during the period. Tectonic Advisors LLC owned approximately 0.07% of Academy Sports and Outdoors worth $1,998,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its position in shares of Academy Sports and Outdoors by 1.3% during the 1st quarter. Principal Financial Group Inc. now owns 345,718 shares of the company's stock valued at $15,768,000 after buying an additional 4,279 shares during the period. Fund 1 Investments LLC purchased a new stake in Academy Sports and Outdoors in the fourth quarter valued at approximately $4,929,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Academy Sports and Outdoors during the fourth quarter worth $1,969,000. Wells Fargo & Company MN increased its position in shares of Academy Sports and Outdoors by 11.4% during the fourth quarter. Wells Fargo & Company MN now owns 216,686 shares of the company's stock worth $12,466,000 after acquiring an additional 22,146 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position 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 worth $299,000 after acquiring an additional 283 shares during the period.

Insider Buying and Selling at Academy Sports and Outdoors

In other news, Director Christopher Lee Turner sold 4,400 shares of the business's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $44.48, for a total value of $195,712.00. Following the completion of the sale, the director 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.62% of the company's stock.

Academy Sports and Outdoors Stock Up 4.3%

Academy Sports and Outdoors stock traded up $2.24 during midday trading on Thursday, hitting $54.26. 1,610,796 shares of the stock were exchanged, compared to its average volume of 1,606,302. Academy Sports and Outdoors, Inc. has a 1 year low of $33.34 and a 1 year high of $64.62. The firm has a market cap of $3.61 billion, a P/E ratio of 9.97, a P/E/G ratio of 0.96 and a beta of 1.29. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.52 and a quick ratio of 0.29. The company has a 50 day moving average price of $45.03 and a two-hundred day moving average price of $46.75.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released its quarterly earnings results 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 19.62% and a net margin of 6.55%. The firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period last year, the firm earned $1.08 EPS. The business's quarterly revenue was down .9% on a year-over-year basis. On average, sell-side analysts predict that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Thursday, June 19th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Wednesday, June 18th. Academy Sports and Outdoors's payout ratio is currently 9.56%.

Analyst Ratings Changes

Several research firms have issued reports on ASO. Bank of America decreased their price objective on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Wednesday, June 11th. Wedbush cut their price target on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Evercore ISI dropped their price objective on shares of Academy Sports and Outdoors from $54.00 to $53.00 and set an "in-line" rating for the company in a research note on Tuesday, April 1st. Loop Capital dropped their price objective on shares of Academy Sports and Outdoors from $77.00 to $60.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Truist Financial raised their target price on shares of Academy Sports and Outdoors from $45.00 to $47.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Academy Sports and Outdoors presently has an average rating of "Moderate Buy" and a consensus price target of $56.31.

Academy Sports and Outdoors 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.