Focus Partners Wealth Raises Stock Holdings in Academy Sports and Outdoors, Inc. $ASO

Key Points

• Focus Partners Wealth increased its stake in Academy Sports and Outdoors by 71.6%, owning 58,891 shares worth approximately $2.7 million as of the latest SEC filing.
• Numerous investors, including Deutsche Bank AG and ProShare Advisors LLC, have also significantly boosted their holdings in Academy Sports and Outdoors during the fourth quarter.
• Academy Sports and Outdoors announced a quarterly dividend of $0.13 per share, representing a 1.1% dividend yield and an annualized payout of $0.52.

Focus Partners Wealth increased its position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 71.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,891 shares of the company's stock after acquiring an additional 24,577 shares during the period. Focus Partners Wealth owned about 0.09% of Academy Sports and Outdoors worth $2,686,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ASO. Your Advocates Ltd. LLP grew its holdings in shares of Academy Sports and Outdoors by 101.5% in the first quarter. Your Advocates Ltd. LLP now owns 816 shares of the company's stock worth $37,000 after acquiring an additional 411 shares during the period. TD Private Client Wealth LLC grew its holdings in Academy Sports and Outdoors by 45.6% during the first quarter. TD Private Client Wealth LLC now owns 1,156 shares of the company's stock valued at $53,000 after purchasing an additional 362 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in Academy Sports and Outdoors during the first quarter valued at about $64,000. Nisa Investment Advisors LLC lifted its position in shares of Academy Sports and Outdoors by 25.6% in the first quarter. Nisa Investment Advisors LLC now owns 1,438 shares of the company's stock valued at $66,000 after acquiring an additional 293 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of Academy Sports and Outdoors by 280.0% in the first quarter. US Bancorp DE now owns 1,657 shares of the company's stock valued at $76,000 after acquiring an additional 1,221 shares in the last quarter.

Academy Sports and Outdoors Trading Down 1.4%

Shares of NASDAQ ASO traded down $0.68 during midday trading on Friday, hitting $47.81. The company's stock had a trading volume of 2,112,724 shares, compared to its average volume of 1,701,503. The company has a current ratio of 1.64, a quick ratio of 0.33 and a debt-to-equity ratio of 0.23. The business's 50 day moving average is $51.77 and its two-hundred day moving average is $46.17. Academy Sports and Outdoors, Inc. has a 12-month low of $33.34 and a 12-month high of $61.80. The firm has a market cap of $3.19 billion, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 0.98 and a beta of 1.30.

Academy Sports and Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 11th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $0.52 annualized dividend and a yield of 1.1%. Academy Sports and Outdoors's dividend payout ratio is 9.74%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ASO. Telsey Advisory Group restated an "outperform" rating and issued a $65.00 price objective on shares of Academy Sports and Outdoors in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. boosted their price objective on Academy Sports and Outdoors from $54.00 to $56.00 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd. Bank of America decreased their target price 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. Evercore ISI boosted their target price on Academy Sports and Outdoors from $50.00 to $55.00 and gave the stock an "in-line" rating in a research report on Tuesday, August 26th. Finally, Morgan Stanley decreased their target price on Academy Sports and Outdoors from $55.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 11th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, Academy Sports and Outdoors currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.78.

Insider Transactions at Academy Sports and Outdoors

In related news, Director Christopher Lee Turner sold 4,400 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $44.48, for a total value of $195,712.00. Following the transaction, the director owned 7,084 shares of the company's stock, valued at $315,096.32. This represents a 38.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.62% of the stock is currently owned by company 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.