Invesco Ltd. Buys 21,031 Shares of Academy Sports and Outdoors, Inc. $ASO

Key Points

• Invesco Ltd. increased its stake in Academy Sports and Outdoors, Inc. by 5.4%, owning approximately 0.62% of the company, valued at $18.88 million after adding 21,031 shares.
• Academy Sports had a mixed earnings report, with a net margin of 6.55% and revenue of $1.35 billion, which fell short of the $1.38 billion consensus estimate.
• The stock is currently rated as a "Moderate Buy" by analysts, with an average target price of $58.24, despite fluctuating estimates from different firms.

Invesco Ltd. increased its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 413,955 shares of the company's stock after purchasing an additional 21,031 shares during the quarter. Invesco Ltd. owned approximately 0.62% of Academy Sports and Outdoors worth $18,880,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Your Advocates Ltd. LLP lifted its holdings in Academy Sports and Outdoors by 101.5% in the 1st quarter. Your Advocates Ltd. LLP now owns 816 shares of the company's stock worth $37,000 after purchasing an additional 411 shares during the last quarter. LGT Financial Advisors LLC lifted its holdings in Academy Sports and Outdoors by 1,041.7% in the 4th quarter. LGT Financial Advisors LLC now owns 1,096 shares of the company's stock worth $63,000 after purchasing an additional 1,000 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in Academy Sports and Outdoors by 45.6% in the 1st quarter. TD Private Client Wealth LLC now owns 1,156 shares of the company's stock worth $53,000 after purchasing an additional 362 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Academy Sports and Outdoors by 25.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,438 shares of the company's stock worth $66,000 after purchasing an additional 293 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in Academy Sports and Outdoors by 280.0% in the 1st quarter. US Bancorp DE now owns 1,657 shares of the company's stock worth $76,000 after purchasing an additional 1,221 shares during the last quarter.

Insider Activity

In other Academy Sports and Outdoors news, Director Christopher Lee Turner sold 4,400 shares of the company's 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 in the company, valued at $315,096.32. This represents a 38.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.62% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ASO shares. UBS Group reduced their target price on Academy Sports and Outdoors from $54.00 to $48.00 and set a "neutral" rating for the company in a report on Wednesday, June 4th. Monness Crespi & Hardt started coverage on Academy Sports and Outdoors in a report on Monday, August 4th. They set a "buy" rating and a $65.00 price target for the company. Citigroup cut their price target on Academy Sports and Outdoors from $60.00 to $55.00 and set a "buy" rating for the company in a report on Wednesday, June 4th. Truist Financial upped their price target on Academy Sports and Outdoors from $45.00 to $47.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Finally, Bank of America cut 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. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Academy Sports and Outdoors has an average rating of "Moderate Buy" and a consensus price target of $58.35.

Academy Sports and Outdoors Stock Performance

Shares of ASO traded up $2.59 on Wednesday, reaching $56.33. 2,197,764 shares of the stock traded hands, compared to its average volume of 1,257,384. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 10.35, a P/E/G ratio of 1.02 and a beta of 1.30. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.52 and a quick ratio of 0.29. Academy Sports and Outdoors, Inc. has a 12 month low of $33.34 and a 12 month high of $64.61. The stock's 50-day moving average price is $50.93 and its 200-day moving average price is $46.42.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.89 by ($0.13). The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.38 billion. Academy Sports and Outdoors had a net margin of 6.55% and a return on equity of 19.62%. The business's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.08 earnings per share. Academy Sports and Outdoors has set its FY 2025 guidance at 5.450-6.25 EPS. Equities analysts forecast that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Thursday, June 19th were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.9%. Academy Sports and Outdoors's payout ratio is currently 9.56%.

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.