Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Shares Sold by King Luther Capital Management Corp

Key Points

• King Luther Capital Management Corp reduced its stake in Academy Sports and Outdoors, Inc. by 3.2%, owning 1,541,374 shares currently valued at approximately $70.3 million.
• The company reported a decrease in quarterly revenue by 0.9% year-over-year, with earnings per share (EPS) of $0.76, missing estimates of $0.89.
• Academy Sports and Outdoors recently declared a quarterly dividend of $0.13 per share, representing an annualized yield of 1.0%.

King Luther Capital Management Corp reduced its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,541,374 shares of the company's stock after selling 50,879 shares during the period. King Luther Capital Management Corp owned 2.32% of Academy Sports and Outdoors worth $70,302,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Your Advocates Ltd. LLP lifted its holdings in Academy Sports and Outdoors by 101.5% in the first quarter. Your Advocates Ltd. LLP now owns 816 shares of the company's stock valued at $37,000 after acquiring an additional 411 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in Academy Sports and Outdoors by 45.6% in the first quarter. TD Private Client Wealth LLC now owns 1,156 shares of the company's stock valued at $53,000 after acquiring an additional 362 shares during the last quarter. LGT Financial Advisors LLC lifted its holdings in Academy Sports and Outdoors by 1,041.7% in the fourth quarter. LGT Financial Advisors LLC now owns 1,096 shares of the company's stock valued at $63,000 after acquiring an additional 1,000 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Academy Sports and Outdoors by 25.6% in the first quarter. Nisa Investment Advisors LLC now owns 1,438 shares of the company's stock valued at $66,000 after acquiring an additional 293 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in Academy Sports and Outdoors by 280.0% in the first quarter. US Bancorp DE now owns 1,657 shares of the company's stock valued at $76,000 after acquiring an additional 1,221 shares during the last quarter.

Academy Sports and Outdoors Price Performance

Shares of NASDAQ:ASO opened at $49.63 on Friday. The company has a quick ratio of 0.29, a current ratio of 1.52 and a debt-to-equity ratio of 0.25. The company has a market cap of $3.30 billion, a P/E ratio of 9.12, a PEG ratio of 0.93 and a beta of 1.30. Academy Sports and Outdoors, Inc. has a 52 week low of $33.34 and a 52 week high of $64.61. The company has a 50-day moving average price of $48.50 and a 200 day moving average price of $46.37.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last issued its earnings results on Tuesday, June 10th. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.89 by ($0.13). Academy Sports and Outdoors had a net margin of 6.55% and a return on equity of 19.62%. The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period last year, the business posted $1.08 earnings per share. The company's quarterly revenue was down .9% on a year-over-year basis. Research analysts predict that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current year.

Academy Sports and Outdoors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Thursday, June 19th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.52 dividend on an annualized basis and a yield of 1.0%. Academy Sports and Outdoors's dividend payout ratio (DPR) is 9.56%.

Insider Transactions at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Christopher Lee Turner sold 4,400 shares of the 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 transaction, the director directly owned 7,084 shares of the company's stock, valued at approximately $315,096.32. This trade represents a 38.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.62% of the company's stock.

Analyst Ratings Changes

ASO has been the topic of a number of research analyst reports. Morgan Stanley cut 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 research report on Wednesday, June 11th. Citigroup cut their price objective on Academy Sports and Outdoors from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Wednesday, June 4th. UBS Group cut their price objective on Academy Sports and Outdoors from $54.00 to $48.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 4th. Truist Financial upped their price objective on 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. Finally, Bank of America cut their price objective on Academy Sports and Outdoors from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 11th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $57.53.

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.

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