Connor Clark & Lunn Investment Management Ltd. Invests $7.95 Million in Academy Sports and Outdoors, Inc. $ASO

Key Points

• Connor Clark & Lunn Investment Management acquired 168,697 Academy Sports and Outdoors shares worth approximately $7.95 million, representing about 0.27% of the company.
• Analyst sentiment remains cautious: ASO has 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, topping estimates by $0.02, while revenue rose 6.7% year over year to $1.44 billion. The company also pays a $0.15 quarterly dividend, yielding approximately 1.4% annually.

Connor Clark & Lunn Investment Management Ltd. bought a new position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 168,697 shares of the company's stock, valued at approximately $7,951,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.27% of Academy Sports and Outdoors at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new stake in Academy Sports and Outdoors in the 2nd quarter worth approximately $38,000. EverSource Wealth Advisors LLC boosted its position in shares of Academy Sports and Outdoors by 38.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 921 shares of the company's stock valued at $52,000 after acquiring an additional 258 shares during the last quarter. State of Wyoming purchased a new position in shares of Academy Sports and Outdoors in the second quarter valued at $55,000. Advisory Services Network LLC purchased a new position in shares of Academy Sports and Outdoors in the third quarter valued at $61,000. Finally, Clearstead Advisors LLC increased its position in Academy Sports and Outdoors by 192.6% in 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 last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ASO. 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 on the stock in a research note on Wednesday, June 10th. UBS Group dropped their price objective on shares of Academy Sports and Outdoors from $56.00 to $55.00 and set a "neutral" rating for the company in a research note on Wednesday, June 10th. Stephens initiated coverage on shares of Academy Sports and Outdoors in a report on Wednesday, May 13th. They issued an "overweight" rating and a $78.00 target price on the stock. Truist Financial decreased their target price on shares of Academy Sports and Outdoors from $54.00 to $52.00 and set a "hold" rating on the stock in a research report on Wednesday, June 10th. Finally, The Goldman Sachs Group lowered their price target on shares of Academy Sports and Outdoors from $67.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $58.07.

Academy Sports and Outdoors Trading Up 0.2%

ASO stock opened at $43.55 on Thursday. Academy Sports and Outdoors, Inc. has a 12 month low of $41.29 and a 12 month high of $62.44. The firm's 50-day moving average is $47.82 and its 200 day moving average is $52.65. The company has a market capitalization of $2.70 billion, a PE ratio of 7.67, a P/E/G ratio of 0.63 and a beta of 1.06. 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 (NASDAQ:ASO - Get Free Report) last released its quarterly earnings data on Tuesday, June 9th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.44 billion. Academy Sports and Outdoors had a net margin of 6.24% and a return on equity of 17.85%. The firm's quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 EPS. Academy Sports and Outdoors has set its FY 2026 guidance at 6.400-6.800 EPS. On average, research analysts anticipate that Academy Sports and Outdoors, Inc. will post 6.08 EPS for the current year.

Academy Sports and Outdoors Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.4%. Academy Sports and Outdoors's payout ratio is presently 10.56%.

Academy Sports and Outdoors Company Profile

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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