Hodges Capital Management Inc. Decreases Stake in Academy Sports and Outdoors, Inc. $ASO

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. decreased its position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 40.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 231,354 shares of the company's stock after selling 158,790 shares during the period. Academy Sports and Outdoors makes up 1.1% of Hodges Capital Management Inc.'s holdings, making the stock its 25th biggest holding. Hodges Capital Management Inc. owned about 0.35% of Academy Sports and Outdoors worth $10,552,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Strs Ohio bought a new stake in Academy Sports and Outdoors in the 1st quarter worth about $128,000. Villanova Investment Management Co LLC bought a new position in Academy Sports and Outdoors in the 1st quarter worth approximately $1,197,000. Focus Partners Wealth boosted its holdings in Academy Sports and Outdoors by 71.6% in the 1st quarter. Focus Partners Wealth now owns 58,891 shares of the company's stock worth $2,686,000 after buying an additional 24,577 shares during the period. United Services Automobile Association bought a new position in Academy Sports and Outdoors in the 1st quarter worth approximately $223,000. Finally, Aristeia Capital L.L.C. bought a new position in Academy Sports and Outdoors in the 1st quarter valued at $242,000.

Academy Sports and Outdoors Stock Performance

Shares of ASO traded up $0.33 during mid-day trading on Wednesday, reaching $46.69. 349,404 shares of the company's stock were exchanged, compared to its average volume of 1,647,241. The business's fifty day simple moving average is $51.97 and its 200-day simple moving average is $46.17. Academy Sports and Outdoors, Inc. has a 52-week low of $33.34 and a 52-week high of $64.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.64 and a quick ratio of 0.33. The stock has a market capitalization of $3.11 billion, a PE ratio of 8.75, a price-to-earnings-growth ratio of 0.94 and a beta of 1.30.

Academy Sports and Outdoors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 11th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $0.52 dividend on an annualized basis and a yield of 1.1%. Academy Sports and Outdoors's dividend payout ratio (DPR) is 9.74%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ASO. UBS Group restated a "neutral" rating and set a $52.00 price objective on shares of Academy Sports and Outdoors in a research report on Sunday, August 31st. Guggenheim restated a "buy" rating and issued a $60.00 price objective on shares of Academy Sports and Outdoors in a research report on Monday, September 8th. Citigroup cut shares of Academy Sports and Outdoors from a "buy" rating to a "neutral" rating and reduced their price target for the company from $55.00 to $50.00 in a research report on Wednesday, September 3rd. Bank of America dropped their price objective on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Academy Sports and Outdoors from $54.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 3rd. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $58.78.

Insider Activity

In other news, Director Christopher Lee Turner sold 4,400 shares of Academy Sports and Outdoors stock in a transaction 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 completion of the transaction, the director owned 7,084 shares of the company's stock, valued at $315,096.32. The trade was a 38.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.62% of the stock is owned by company insiders.

Academy Sports and Outdoors 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.