Public Sector Pension Investment Board Lowers Stock Holdings in Academy Sports and Outdoors, Inc. $ASO

Key Points

• Public Sector Pension Investment Board reduced its stake in Academy Sports and Outdoors by 28.4%, owning 220,067 shares worth about $10 million after selling 87,197 shares.
• Academy Sports reported $0.76 EPS for the quarter, missing estimates of $0.89, with revenue declining 0.9% year-over-year to $1.35 billion.
• Several analysts have revised their price targets for Academy Sports, with current ratings showing a consensus of "Moderate Buy" and an average target price of $57.53.

Public Sector Pension Investment Board lessened its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 28.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 220,067 shares of the company's stock after selling 87,197 shares during the quarter. Public Sector Pension Investment Board owned 0.33% of Academy Sports and Outdoors worth $10,037,000 as of its most recent SEC filing.

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

Academy Sports and Outdoors Trading Down 0.3%

Academy Sports and Outdoors stock traded down $0.16 during midday trading on Monday, hitting $53.87. 416,701 shares of the stock were exchanged, compared to its average volume of 1,639,986. Academy Sports and Outdoors, Inc. has a fifty-two week low of $33.34 and a fifty-two week high of $64.61. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 1.01 and a beta of 1.30. The stock's 50-day simple moving average is $49.58 and its 200 day simple moving average is $46.24. The company has a current ratio of 1.52, a quick ratio of 0.29 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released 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). The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.38 billion. Academy Sports and Outdoors had a return on equity of 19.62% and a net margin of 6.55%. Academy Sports and Outdoors's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.08 earnings per share. On average, equities analysts anticipate that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current year.

Academy Sports and Outdoors Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of 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. Wells Fargo & Company boosted their price objective on Academy Sports and Outdoors from $43.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Thursday. Monness Crespi & Hardt assumed coverage on Academy Sports and Outdoors in a research note on Monday, August 4th. They set a "buy" rating and a $65.00 price objective for the company. Bank of America cut 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 note on Wednesday, June 11th. Finally, UBS Group cut their price objective on Academy Sports and Outdoors from $54.00 to $48.00 and set a "neutral" rating for the company in a research note on Wednesday, June 4th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $58.24.

Insider Transactions at Academy Sports and Outdoors

In other Academy Sports and Outdoors 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 completion of the sale, the director owned 7,084 shares of the company's stock, valued at $315,096.32. This trade represents a 38.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.62% of the stock is currently owned by company insiders.

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.