Bank of America Corp DE Has $27.72 Million Stock Position in Academy Sports and Outdoors, Inc. $ASO

Key Points

• Bank of America reduced its Academy Sports and Outdoors stake by 22.4% in the first quarter, selling 141,754 shares and retaining 491,073 shares valued at approximately $27.72 million.
• Analysts have a consensus “Hold” rating on ASO, with an average price target of $58.07; several firms recently lowered their targets, while Stephens initiated coverage with an “overweight” rating and a $78 target.
• Academy Sports reported quarterly EPS of $0.93, slightly above expectations, on $1.44 billion in revenue, up 6.7% year over year. The company also pays a quarterly dividend of $0.15, equivalent to a 1.3% annual yield.

Bank of America Corp DE lessened its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 22.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 491,073 shares of the company's stock after selling 141,754 shares during the quarter. Bank of America Corp DE owned 0.76% of Academy Sports and Outdoors worth $27,721,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ASO. Salomon & Ludwin LLC raised its stake in Academy Sports and Outdoors by 139.8% in the 4th quarter. Salomon & Ludwin LLC now owns 482 shares of the company's stock worth $26,000 after purchasing an additional 281 shares in the last quarter. Bayforest Capital Ltd acquired a new position in shares of Academy Sports and Outdoors during the 4th quarter worth approximately $51,000. EverSource Wealth Advisors LLC increased its holdings in shares of Academy Sports and Outdoors by 38.9% during the first quarter. EverSource Wealth Advisors LLC now owns 921 shares of the company's stock worth $52,000 after purchasing an additional 258 shares during the period. Advisory Services Network LLC bought a new position in shares of Academy Sports and Outdoors during the third quarter worth approximately $61,000. Finally, Clearstead Advisors LLC increased its holdings in shares of Academy Sports and Outdoors by 192.6% during the fourth quarter. Clearstead Advisors LLC now owns 1,311 shares of the company's stock worth $65,000 after purchasing an additional 863 shares during the period.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ASO shares. Truist Financial cut their price target on Academy Sports and Outdoors from $54.00 to $52.00 and set a "hold" rating for the company in a research note on Wednesday, June 10th. UBS Group lowered their price objective on Academy Sports and Outdoors from $56.00 to $55.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 10th. Barclays dropped their price objective on Academy Sports and Outdoors from $55.00 to $50.00 and set an "equal weight" rating for the company in a report on Thursday, June 11th. Stephens began coverage on Academy Sports and Outdoors in a research report on Wednesday, May 13th. They set an "overweight" rating and a $78.00 target price for the company. Finally, The Goldman Sachs Group reduced their target price on Academy Sports and Outdoors from $67.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Academy Sports and Outdoors has a consensus rating of "Hold" and a consensus price target of $58.07.

Academy Sports and Outdoors Stock Performance

NASDAQ ASO opened at $47.99 on Monday. The firm's 50 day simple moving average is $48.59 and its 200 day simple moving average is $53.26. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 8.45, a P/E/G ratio of 0.69 and a beta of 1.06. The company has a current ratio of 1.68, a quick ratio of 0.36 and a debt-to-equity ratio of 0.23. Academy Sports and Outdoors, Inc. has a 1 year low of $41.29 and a 1 year high of $62.44.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released its earnings results on Tuesday, June 9th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.02. The firm had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.44 billion. Academy Sports and Outdoors had a return on equity of 17.85% and a net margin of 6.24%.The company's quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.76 earnings per share. Academy Sports and Outdoors has set its FY 2026 guidance at 6.400-6.800 EPS. As a group, research analysts expect that Academy Sports and Outdoors, Inc. will post 6.08 earnings per share for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, June 18th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $0.60 annualized dividend and a yield of 1.3%. Academy Sports and Outdoors's dividend payout ratio is presently 10.56%.

About Academy Sports and Outdoors

Academy Sports and Outdoors is a leading specialty retailer of sporting goods and outdoor gear, operating more than 260 stores across the United States. Headquartered in Katy, Texas, the company offers a broad assortment of merchandise spanning athletic footwear and apparel, team sports equipment, camping and outdoor recreation products, hunting and fishing supplies, and fitness accessories. In addition to its brick-and-mortar footprint, Academy serves customers through its e-commerce platform, offering online ordering, in-store pickup, and home delivery options.

The company's product portfolio includes seasonal and year-round categories designed to meet the needs of both casual enthusiasts and serious athletes.

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