Envestnet Asset Management Inc. Acquires 19,617 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Envestnet Asset Management Inc. raised its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 8.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 250,938 shares of the company's stock after purchasing an additional 19,617 shares during the quarter. Envestnet Asset Management Inc. owned 0.38% of Academy Sports and Outdoors worth $11,445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ASO. LGT Financial Advisors LLC boosted its holdings in shares of Academy Sports and Outdoors by 1,041.7% in the 4th quarter. LGT Financial Advisors LLC now owns 1,096 shares of the company's stock worth $63,000 after buying an additional 1,000 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of Academy Sports and Outdoors by 724.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,625 shares of the company's stock valued at $93,000 after buying an additional 1,428 shares during the period. Blue Trust Inc. increased its position in shares of Academy Sports and Outdoors by 203.0% during the first quarter. Blue Trust Inc. now owns 2,121 shares of the company's stock valued at $97,000 after buying an additional 1,421 shares during the period. GAMMA Investing LLC increased its position in shares of Academy Sports and Outdoors by 125.4% in the first quarter. GAMMA Investing LLC now owns 2,802 shares of the company's stock worth $128,000 after purchasing an additional 1,559 shares during the last quarter. Finally, Syon Capital LLC bought a new position in shares of Academy Sports and Outdoors in the fourth quarter worth approximately $213,000.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ASO. Morgan Stanley dropped their price target on Academy Sports and Outdoors from $55.00 to $52.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 11th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $58.00 price objective (down previously from $60.00) on shares of Academy Sports and Outdoors in a research note on Tuesday, June 10th. Bank of America cut their price objective on Academy Sports and Outdoors from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 11th. Wells Fargo & Company upped their target price on Academy Sports and Outdoors from $38.00 to $43.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Finally, Evercore ISI reduced their target price on Academy Sports and Outdoors from $54.00 to $53.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 1st. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Academy Sports and Outdoors has a consensus rating of "Moderate Buy" and a consensus price target of $56.63.

Academy Sports and Outdoors Trading Up 1.4%

Shares of NASDAQ ASO traded up $0.76 during trading on Wednesday, reaching $56.87. The stock had a trading volume of 1,083,696 shares, compared to its average volume of 1,609,872. Academy Sports and Outdoors, Inc. has a fifty-two week low of $33.34 and a fifty-two week high of $64.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.29 and a current ratio of 1.52. The business's 50-day moving average price is $46.17 and its 200-day moving average price is $46.68. The company has a market cap of $3.78 billion, a P/E ratio of 10.45, a PEG ratio of 1.05 and a beta of 1.29.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.89 by ($0.13). The business had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.38 billion. Academy Sports and Outdoors had a return on equity of 19.62% and a net margin of 6.55%. The firm's quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the firm earned $1.08 earnings per share. On average, equities research analysts predict that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Thursday, June 19th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.91%. The ex-dividend date was Wednesday, June 18th. Academy Sports and Outdoors's dividend payout ratio is presently 9.56%.

Insider Buying and Selling

In other Academy Sports and Outdoors news, Director Christopher Lee Turner sold 4,400 shares of the business'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 owned 7,084 shares in the company, valued at approximately $315,096.32. The trade was a 38.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.62% of the stock is currently owned by corporate insiders.

Academy Sports and Outdoors Company 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.