Impala Asset Management LLC Reduces Holdings in Academy Sports and Outdoors, Inc. $ASO

Key Points

• Impala Asset Management LLC reduced its holdings in Academy Sports and Outdoors by 15.2%, selling 54,849 shares and retaining a total of 305,151 shares.
• Academy Sports and Outdoors posted $0.76 EPS for the most recent quarter, missing expectations of $0.89, with revenue down 0.9% year-over-year.
• The company announced a quarterly dividend of $0.13 per share, representing an annualized yield of 1.1%.

Impala Asset Management LLC trimmed its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 15.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 305,151 shares of the company's stock after selling 54,849 shares during the period. Academy Sports and Outdoors comprises about 9.0% of Impala Asset Management LLC's holdings, making the stock its 6th largest position. Impala Asset Management LLC owned approximately 0.46% of Academy Sports and Outdoors worth $13,918,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Your Advocates Ltd. LLP raised 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 valued at $37,000 after purchasing an additional 411 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Academy Sports and Outdoors by 45.6% in 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 last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Academy Sports and Outdoors in the first quarter valued at about $64,000. Nisa Investment Advisors LLC raised its holdings 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 purchasing an additional 293 shares during the last quarter. Finally, US Bancorp DE raised its holdings 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 purchasing an additional 1,221 shares during the last quarter.

Academy Sports and Outdoors Price Performance

ASO opened at $48.41 on Wednesday. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 1.02 and a beta of 1.30. The company has a quick ratio of 0.33, a current ratio of 1.64 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $52.03 and a 200-day moving average price of $46.28. Academy Sports and Outdoors, Inc. has a twelve month low of $33.34 and a twelve month high of $64.61.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last posted its earnings results on Tuesday, June 10th. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.13). Academy Sports and Outdoors had a return on equity of 18.47% and a net margin of 6.21%.The business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the previous year, the business earned $1.08 EPS. Academy Sports and Outdoors's revenue for the quarter was down .9% on a year-over-year basis. Equities analysts expect that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current year.

Academy Sports and Outdoors Announces Dividend

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

Insider Activity at Academy Sports and Outdoors

In other news, Director Christopher Lee Turner sold 4,400 shares of the firm's stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.62% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ASO. Truist Financial increased their target price on shares of Academy Sports and Outdoors from $47.00 to $50.00 and gave the company a "hold" rating in a report on Wednesday, September 3rd. Evercore ISI raised their price objective on shares of Academy Sports and Outdoors from $50.00 to $55.00 and gave the stock an "in-line" rating in a report on Tuesday, August 26th. Wells Fargo & Company restated a "positive" rating on shares of Academy Sports and Outdoors in a report on Wednesday, September 3rd. Bank of America decreased their price objective on shares of 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. Finally, Telsey Advisory Group restated an "outperform" rating and set a $65.00 price objective on shares of Academy Sports and Outdoors in a report on Tuesday, September 2nd. Ten equities research 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $58.78.

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.

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