Academy Sports and Outdoors, Inc. $ASO Shares Sold by Hodges Capital Management Inc.

Key Points

• Hodges Capital Management Inc. has significantly reduced its stake in Academy Sports and Outdoors by 40.7%, selling 158,790 shares and retaining 231,354 shares, which constitute 1.1% of its portfolio.
• Several other hedge funds have increased their stakes, notably Your Advocates Ltd. LLP by 101.5%, and US Bancorp DE, which increased its stake by 280.0%.
• Academy Sports and Outdoors recently declared a quarterly dividend of $0.13 per share, with a dividend yield of 1.1%, indicating a solid payout ratio of 9.74%.

Hodges Capital Management Inc. lowered its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 40.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 231,354 shares of the company's stock after selling 158,790 shares during the quarter. Academy Sports and Outdoors comprises about 1.1% of Hodges Capital Management Inc.'s holdings, making the stock its 25th largest position. Hodges Capital Management Inc. owned 0.35% of Academy Sports and Outdoors worth $10,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of ASO. Westwood Holdings Group Inc. increased 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 acquiring an additional 528,367 shares during the last quarter. American Century Companies Inc. increased its position in Academy Sports and Outdoors by 33.7% during the 1st quarter. American Century Companies Inc. now owns 1,675,428 shares of the company's stock worth $76,416,000 after purchasing an additional 422,729 shares in the last quarter. Nuveen LLC acquired a new stake in Academy Sports and Outdoors during the 1st quarter worth approximately $13,453,000. Brandywine Global Investment Management LLC acquired a new stake in Academy Sports and Outdoors during the 1st quarter worth approximately $11,396,000. Finally, LSV Asset Management boosted its holdings in Academy Sports and Outdoors by 12.5% in the 1st quarter. LSV Asset Management now owns 2,182,341 shares of the company's stock worth $99,537,000 after acquiring an additional 242,300 shares during the period.

Insiders Place Their Bets

In other Academy Sports and Outdoors news, Director Christopher Lee Turner sold 4,400 shares of the stock in a transaction 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 of the company's stock, valued at $315,096.32. This trade represents a 38.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.62% of the stock is owned by corporate insiders.

Academy Sports and Outdoors Stock Performance

ASO traded down $1.55 during trading hours on Friday, hitting $46.47. 1,873,696 shares of the stock were exchanged, compared to its average volume of 1,640,473. The stock has a 50-day simple moving average of $52.05 and a 200-day simple moving average of $46.19. Academy Sports and Outdoors, Inc. has a 12 month low of $33.34 and a 12 month high of $64.61. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 0.94 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 11th will be given 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 (DPR) is currently 9.74%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ASO. Guggenheim restated a "buy" rating and issued a $60.00 price target on shares of Academy Sports and Outdoors in a report on Monday, September 8th. Loop Capital set a $65.00 price target on Academy Sports and Outdoors in a report on Monday, July 21st. Bank of America decreased their price target on Academy Sports and Outdoors from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Wednesday, June 11th. Monness Crespi & Hardt assumed coverage on Academy Sports and Outdoors in a research note on Monday, August 4th. They set a "buy" rating and a $65.00 target price for the company. Finally, Citigroup cut Academy Sports and Outdoors from a "buy" rating to a "neutral" rating and reduced their target price for the company from $55.00 to $50.00 in a research note on Wednesday, September 3rd. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Academy Sports and Outdoors presently has an average rating of "Moderate Buy" and a consensus price target of $58.78.

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.