Bessemer Group Inc. Has $24.18 Million Holdings in Academy Sports and Outdoors, Inc. $ASO

Key Points

• Bessemer Group Inc. boosted its stake in Academy Sports and Outdoors by 11.6% in the fourth quarter, ending with 483,990 shares valued at about $24.18 million.
• Insider selling: Director Jeffrey C. Tweedy sold 4,000 shares at $60 each, cutting his position by 33.8%; insiders now own 3.62% of the stock.
• Academy Sports recently raised its quarterly dividend to $0.15 per share, but its latest earnings missed estimates with EPS of $1.97 versus $2.05 expected, while revenue came in at $1.72 billion.

Bessemer Group Inc. increased its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 11.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 483,990 shares of the company's stock after acquiring an additional 50,186 shares during the period. Bessemer Group Inc. owned 0.73% of Academy Sports and Outdoors worth $24,181,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Citigroup Inc. increased its holdings in shares of Academy Sports and Outdoors by 105.8% during the 3rd quarter. Citigroup Inc. now owns 162,571 shares of the company's stock valued at $8,132,000 after acquiring an additional 83,572 shares during the last quarter. Junto Capital Management LP acquired a new position in shares of Academy Sports and Outdoors during the 3rd quarter valued at about $36,567,000. Heartland Advisors Inc. increased its holdings in shares of Academy Sports and Outdoors by 71.9% during the 3rd quarter. Heartland Advisors Inc. now owns 273,617 shares of the company's stock valued at $13,686,000 after acquiring an additional 114,427 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Academy Sports and Outdoors by 9,627.2% during the 3rd quarter. Fifth Third Bancorp now owns 58,363 shares of the company's stock valued at $2,919,000 after acquiring an additional 57,763 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Academy Sports and Outdoors by 6.1% during the 3rd quarter. American Century Companies Inc. now owns 2,176,853 shares of the company's stock valued at $108,886,000 after acquiring an additional 125,398 shares during the last quarter.

Insiders Place Their Bets

In related news, Director Jeffrey C. Tweedy sold 4,000 shares of the firm's stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $60.00, for a total transaction of $240,000.00. Following the completion of the sale, the director directly owned 7,835 shares of the company's stock, valued at $470,100. This trade represents a 33.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.62% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on ASO shares. Wells Fargo & Company increased their price objective on Academy Sports and Outdoors from $52.00 to $56.00 and gave the company an "equal weight" rating in a report on Wednesday, April 8th. UBS Group lowered their target price on Academy Sports and Outdoors from $60.00 to $56.00 and set a "neutral" rating on the stock in a report on Wednesday, March 18th. B. Riley Financial reaffirmed a "buy" rating on shares of Academy Sports and Outdoors in a report on Wednesday, April 8th. Barclays raised their target price on Academy Sports and Outdoors from $49.00 to $55.00 and gave the company an "equal weight" rating in a report on Wednesday, April 8th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $61.00 target price on shares of Academy Sports and Outdoors in a report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $59.87.

Academy Sports and Outdoors Price Performance

Academy Sports and Outdoors stock opened at $50.55 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.89 and a quick ratio of 0.44. The company has a market capitalization of $3.26 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.78 and a beta of 1.06. Academy Sports and Outdoors, Inc. has a one year low of $39.87 and a one year high of $62.44. The business has a 50 day simple moving average of $55.46 and a 200 day simple moving average of $53.88.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released its quarterly earnings results on Tuesday, March 17th. The company reported $1.97 earnings per share for the quarter, missing analysts' consensus estimates of $2.05 by ($0.08). Academy Sports and Outdoors had a net margin of 6.22% and a return on equity of 17.88%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the business earned $1.96 earnings per share. The company's revenue for the quarter was up 2.5% on a year-over-year basis. On average, sell-side analysts forecast that Academy Sports and Outdoors, Inc. will post 5.95 EPS for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 20th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, March 20th. This represents a $0.60 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Academy Sports and Outdoors's previous quarterly dividend of $0.13. Academy Sports and Outdoors's payout ratio is 10.79%.

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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