Greatmark Investment Partners Inc. Acquires 103,680 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Greatmark Investment Partners Inc. increased its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 34.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 406,815 shares of the company's stock after acquiring an additional 103,680 shares during the quarter. Academy Sports and Outdoors makes up 2.5% of Greatmark Investment Partners Inc.'s holdings, making the stock its 13th largest holding. Greatmark Investment Partners Inc. owned about 0.61% of Academy Sports and Outdoors worth $18,555,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ASO. Xponance Inc. grew its holdings in shares of Academy Sports and Outdoors by 5.7% during the fourth quarter. Xponance Inc. now owns 4,916 shares of the company's stock valued at $283,000 after buying an additional 266 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Academy Sports and Outdoors by 1.9% during the first quarter. SummerHaven Investment Management LLC now owns 14,874 shares of the company's stock valued at $678,000 after buying an additional 275 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Academy Sports and Outdoors by 4.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 6,422 shares of the company's stock valued at $299,000 after buying an additional 283 shares in the last quarter. Moody National Bank Trust Division grew its holdings in shares of Academy Sports and Outdoors by 1.7% during the first quarter. Moody National Bank Trust Division now owns 17,636 shares of the company's stock valued at $804,000 after buying an additional 287 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Academy Sports and Outdoors by 25.6% during the first quarter. Nisa Investment Advisors LLC now owns 1,438 shares of the company's stock valued at $66,000 after buying an additional 293 shares in the last quarter.

Analyst Upgrades and Downgrades

ASO has been the topic of a number of research analyst reports. Bank of America lowered their price target on Academy Sports and Outdoors from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Wednesday, June 11th. Morgan Stanley lowered 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 note on Wednesday, June 11th. Truist Financial boosted their target price on Academy Sports and Outdoors from $45.00 to $47.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Wells Fargo & Company boosted their target price on Academy Sports and Outdoors from $38.00 to $43.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Finally, Oppenheimer lowered their target price on Academy Sports and Outdoors from $85.00 to $70.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $56.31.

Insider Buying and Selling at Academy Sports and Outdoors

In other news, Director Christopher Lee Turner sold 4,400 shares of the company'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 value of $195,712.00. Following the sale, the director directly owned 7,084 shares in the company, valued at approximately $315,096.32. This represents a 38.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.62% of the company's stock.

Academy Sports and Outdoors Stock Performance

ASO traded up $0.71 on Wednesday, hitting $52.02. 1,515,394 shares of the stock traded hands, compared to its average volume of 1,606,284. Academy Sports and Outdoors, Inc. has a 52 week low of $33.34 and a 52 week high of $64.62. The company has a current ratio of 1.52, a quick ratio of 0.29 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $3.46 billion, a PE ratio of 9.56, a P/E/G ratio of 0.96 and a beta of 1.29. The business has a fifty day moving average price of $45.03 and a two-hundred day moving average price of $46.75.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last issued its quarterly earnings results on Tuesday, June 10th. The company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.13). Academy Sports and Outdoors had a net margin of 6.55% and a return on equity of 19.62%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the firm earned $1.08 earnings per share. The company's revenue was down .9% on a year-over-year basis. On average, 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 will be paid on Thursday, July 17th. Stockholders of record on Thursday, June 19th will be paid a $0.13 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.52 annualized dividend and a dividend yield of 1.00%. Academy Sports and Outdoors's dividend payout ratio is currently 9.56%.

About Academy Sports and Outdoors

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.