Bank of New York Mellon Corp Sells 24,757 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Bank of New York Mellon Corp lessened its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 687,469 shares of the company's stock after selling 24,757 shares during the period. Bank of New York Mellon Corp owned approximately 1.03% of Academy Sports and Outdoors worth $31,355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Xponance Inc. grew its position in shares of Academy Sports and Outdoors by 5.7% during the 4th quarter. Xponance Inc. now owns 4,916 shares of the company's stock valued at $283,000 after acquiring an additional 266 shares during the period. SummerHaven Investment Management LLC raised its position in Academy Sports and Outdoors by 1.9% in the first quarter. SummerHaven Investment Management LLC now owns 14,874 shares of the company's stock valued at $678,000 after purchasing an additional 275 shares during the period. Allspring Global Investments Holdings LLC raised its position in Academy Sports and Outdoors by 4.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,422 shares of the company's stock valued at $299,000 after purchasing an additional 283 shares during the period. Moody National Bank Trust Division grew its stake in shares of Academy Sports and Outdoors by 1.7% in the first quarter. Moody National Bank Trust Division now owns 17,636 shares of the company's stock worth $804,000 after acquiring an additional 287 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its stake in shares of Academy Sports and Outdoors by 4.8% in the fourth quarter. Rafferty Asset Management LLC now owns 7,613 shares of the company's stock worth $438,000 after acquiring an additional 346 shares in the last quarter.

Academy Sports and Outdoors Stock Down 0.3%

Shares of NASDAQ ASO traded down $0.14 during midday trading on Friday, reaching $54.12. The company's stock had a trading volume of 1,478,386 shares, compared to its average volume of 1,605,197. 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, Inc. has a fifty-two week low of $33.34 and a fifty-two week high of $64.62. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 1.02 and a beta of 1.29. The stock has a 50 day simple moving average of $45.60 and a 200-day simple moving average of $46.70.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.76 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the firm earned $1.08 earnings per share. The company's revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts predict that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Thursday, June 19th were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.52 annualized dividend and a yield of 0.96%. Academy Sports and Outdoors's dividend payout ratio is presently 9.56%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ASO shares. B. Riley reduced their target price on shares of Academy Sports and Outdoors from $70.00 to $65.00 and set a "buy" rating for the company in a report on Friday, March 21st. Robert W. Baird lowered their price target on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Oppenheimer decreased their target price on shares of Academy Sports and Outdoors from $85.00 to $70.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Bank of America cut their price target on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 11th. Finally, Wedbush cut their target price on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $56.31.

Insider Buying and Selling

In other news, Director Christopher Lee Turner sold 4,400 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 7,084 shares of the company's stock, valued at $315,096.32. This represents a 38.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.62% of the stock is currently owned by corporate insiders.

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.