Bank of New York Mellon Corp Acquires Shares of 588,627 Academy Sports and Outdoors, Inc. $ASO

Key Points

• Bank of New York Mellon acquired 588,627 shares of Academy Sports and Outdoors, valued at approximately $27.7 million, giving it a 0.95% stake. Several other institutional investors also modestly increased their positions.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $58.07, despite Stephens initiating coverage with an “overweight” rating and a $78 target.
• Academy reported quarterly EPS of $0.93, slightly exceeding estimates, while revenue rose 6.7% year over year to $1.44 billion. The company also declared a $0.15 quarterly dividend, equivalent to a 1.4% yield.

Bank of New York Mellon Corp bought a new position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 588,627 shares of the company's stock, valued at approximately $27,742,000. Bank of New York Mellon Corp owned 0.95% of Academy Sports and Outdoors at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in Academy Sports and Outdoors by 12.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,742 shares of the company's stock worth $86,000 after buying an additional 188 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in shares of Academy Sports and Outdoors by 3.7% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,599 shares of the company's stock worth $280,000 after acquiring an additional 202 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Academy Sports and Outdoors by 2.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,464 shares of the company's stock valued at $373,000 after purchasing an additional 202 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Academy Sports and Outdoors by 3.5% in the 4th quarter. CIBC Asset Management Inc now owns 6,721 shares of the company's stock valued at $336,000 after purchasing an additional 228 shares during the period. Finally, Maryland State Retirement & Pension System boosted its position in shares of Academy Sports and Outdoors by 2.5% during the fourth quarter. Maryland State Retirement & Pension System now owns 9,792 shares of the company's stock valued at $489,000 after purchasing an additional 235 shares in the last quarter.

Analysts Set New Price Targets

ASO has been the subject of a number of research reports. Stephens assumed coverage on Academy Sports and Outdoors in a report on Wednesday, May 13th. They issued an "overweight" rating and a $78.00 price objective for the company. The Goldman Sachs Group dropped their target price on shares of 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. JPMorgan Chase & Co. decreased their price target on shares of Academy Sports and Outdoors from $60.00 to $59.00 and set a "neutral" rating for the company in a research note on Wednesday, June 10th. Barclays lowered their price target on shares of Academy Sports and Outdoors from $55.00 to $50.00 and set an "equal weight" rating for the company in a research report on Thursday, June 11th. Finally, Wells Fargo & Company reissued a "hold" rating on shares of Academy Sports and Outdoors in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $58.07.

Academy Sports and Outdoors Trading Up 2.0%

Academy Sports and Outdoors stock opened at $43.50 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.68 and a quick ratio of 0.36. Academy Sports and Outdoors, Inc. has a one year low of $41.29 and a one year high of $62.44. The stock has a market capitalization of $2.70 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 0.63 and a beta of 1.06. The business's fifty day moving average is $47.47 and its 200 day moving average is $52.47.

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

Academy Sports and Outdoors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, June 18th were issued a $0.15 dividend. The ex-dividend date was Thursday, June 18th. This represents a $0.60 annualized dividend and a yield of 1.4%. Academy Sports and Outdoors's dividend payout ratio (DPR) is currently 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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