Fulton Bank N.A. Makes New $240,000 Investment in Academy Sports and Outdoors, Inc. $ASO

Key Points

• Fulton Bank N.A. has invested $240,000 in Academy Sports and Outdoors, acquiring 5,347 shares of the company's stock during the 2nd quarter.
• Insider Christopher Lee Turner sold 4,400 shares of Academy Sports at an average price of $44.48, reducing his ownership by 38.31%.
• Academy Sports and Outdoors has a market capitalization of $3.19 billion and has recently announced a quarterly dividend of $0.13 per share, equating to a 1.1% yield.

Fulton Bank N.A. bought a new stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,347 shares of the company's stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in shares of Academy Sports and Outdoors by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,846,410 shares of the company's stock valued at $175,438,000 after purchasing an additional 147,395 shares during the period. LSV Asset Management raised its stake in shares of Academy Sports and Outdoors by 12.5% during the 1st quarter. LSV Asset Management now owns 2,182,341 shares of the company's stock valued at $99,537,000 after purchasing an additional 242,300 shares during the period. Westwood Holdings Group Inc. raised its stake in shares of Academy Sports and Outdoors by 36.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,992,997 shares of the company's stock valued at $90,901,000 after purchasing an additional 528,367 shares during the period. American Century Companies Inc. grew its position in Academy Sports and Outdoors by 33.7% during the first quarter. American Century Companies Inc. now owns 1,675,428 shares of the company's stock worth $76,416,000 after buying an additional 422,729 shares in the last quarter. Finally, Royce & Associates LP grew its position in Academy Sports and Outdoors by 8.4% during the first quarter. Royce & Associates LP now owns 1,273,158 shares of the company's stock worth $58,069,000 after buying an additional 98,582 shares in the last quarter.

Academy Sports and Outdoors Stock Up 2.8%

ASO stock traded up $1.28 during trading hours on Tuesday, reaching $47.53. 471,916 shares of the stock were exchanged, compared to its average volume of 1,655,817. The firm's 50-day moving average is $51.67 and its 200-day moving average is $46.12. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 0.97 and a beta of 1.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.64 and a quick ratio of 0.33. Academy Sports and Outdoors, Inc. has a 12 month low of $33.34 and a 12 month high of $61.69.

Academy Sports and Outdoors Announces Dividend

The company also recently announced 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. This represents a $0.52 annualized dividend and a yield of 1.1%. The ex-dividend date is Thursday, September 11th. Academy Sports and Outdoors's dividend payout ratio (DPR) is 9.74%.

Wall Street Analysts Forecast Growth

ASO has been the subject of several recent analyst reports. Guggenheim restated a "buy" rating and set a $60.00 target price on shares of Academy Sports and Outdoors in a research report on Monday, September 8th. Loop Capital set a $65.00 price objective on Academy Sports and Outdoors in a report on Monday, July 21st. Telsey Advisory Group restated an "outperform" rating and set a $65.00 target price on shares of Academy Sports and Outdoors in a report on Tuesday, September 2nd. UBS Group restated a "neutral" rating and set a $52.00 target price on shares of Academy Sports and Outdoors in a report on Sunday, August 31st. Finally, Bank of America lowered their price target on Academy Sports and Outdoors from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Wednesday, June 11th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Academy Sports and Outdoors currently has an average rating of "Moderate Buy" and an average price target of $58.50.

Insider Transactions at Academy Sports and Outdoors

In related news, Director Christopher Lee Turner sold 4,400 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $44.48, for a total value of $195,712.00. Following the completion of the sale, the director directly owned 7,084 shares in the company, valued at approximately $315,096.32. This trade represents a 38.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.62% of the company's stock.

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.