Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 3.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 687,469 shares of the company's stock after selling 24,757 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.03% of Academy Sports and Outdoors worth $31,355,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ASO. Dimensional Fund Advisors LP increased its holdings in shares of Academy Sports and Outdoors by 12.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,699,015 shares of the company's stock valued at $212,807,000 after acquiring an additional 404,863 shares in the last quarter. LSV Asset Management increased its holdings in Academy Sports and Outdoors by 14.2% in the 4th quarter. LSV Asset Management now owns 1,940,041 shares of the company's stock worth $111,611,000 after buying an additional 241,100 shares during the period. Westwood Holdings Group Inc. increased its holdings in Academy Sports and Outdoors by 1.0% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,464,630 shares of the company's stock worth $84,260,000 after buying an additional 14,997 shares during the period. American Century Companies Inc. increased its holdings in Academy Sports and Outdoors by 77.2% in the 4th quarter. American Century Companies Inc. now owns 1,252,699 shares of the company's stock worth $72,068,000 after buying an additional 545,778 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in Academy Sports and Outdoors in the 4th quarter worth approximately $52,402,000.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ASO. Loop Capital cut their price target on shares of Academy Sports and Outdoors from $77.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Evercore ISI dropped their price target on shares of Academy Sports and Outdoors from $54.00 to $53.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 1st. JPMorgan Chase & Co. lifted their price target on shares of Academy Sports and Outdoors from $52.00 to $54.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Morgan Stanley dropped their price target on shares of Academy Sports and Outdoors from $55.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 11th. Finally, Wells Fargo & Company lifted their price target on shares of Academy Sports and Outdoors from $38.00 to $43.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $56.31.

Academy Sports and Outdoors Trading Up 1.4%

Shares of NASDAQ ASO traded up $0.71 during trading on Wednesday, hitting $52.02. 1,515,394 shares of the company were exchanged, compared to its average volume of 1,608,763. Academy Sports and Outdoors, Inc. has a 12-month low of $33.34 and a 12-month high of $64.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.29 and a current ratio of 1.52. The company has a fifty day moving average price of $44.77 and a 200-day moving average price of $46.72. The firm has a market capitalization of $3.46 billion, a PE ratio of 9.56, a P/E/G ratio of 0.95 and a beta of 1.29.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last issued its quarterly earnings data 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). The business 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%. The firm's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 earnings per share. As a group, equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Thursday, June 19th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Wednesday, June 18th. Academy Sports and Outdoors's payout ratio is 9.56%.

Insider Activity

In related news, Director Christopher Lee Turner sold 4,400 shares of the firm's stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.62% of the company's stock.

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.