Kingsview Wealth Management LLC Makes New $2.66 Million Investment in Academy Sports and Outdoors, Inc. $ASO

Key Points

• Kingsview Wealth Management opened a new position in Academy Sports and Outdoors, buying 53,247 shares worth about $2.66 million in the fourth quarter.
• Other institutional investors were also active in ASO, including large increases from firms like Boston Partners, Ameriprise Financial, and Bank of America, signaling continued hedge fund interest in the stock.
• Academy Sports and Outdoors recently missed quarterly earnings and revenue estimates, and the stock was down 4.2% to $52.80; despite this, analysts still largely rate it a Hold with an average price target of $59.87.

Kingsview Wealth Management LLC purchased a new position in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 53,247 shares of the company's stock, valued at approximately $2,660,000. Kingsview Wealth Management LLC owned approximately 0.08% of Academy Sports and Outdoors at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ASO. Junto Capital Management LP bought a new stake in shares of Academy Sports and Outdoors during the 3rd quarter worth about $36,567,000. Boston Partners raised its position in shares of Academy Sports and Outdoors by 85.5% during the 3rd quarter. Boston Partners now owns 1,302,141 shares of the company's stock worth $65,416,000 after buying an additional 600,335 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Academy Sports and Outdoors by 219.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 501,028 shares of the company's stock worth $22,452,000 after buying an additional 344,376 shares in the last quarter. Voloridge Investment Management LLC raised its position in shares of Academy Sports and Outdoors by 6,156.4% during the 3rd quarter. Voloridge Investment Management LLC now owns 344,788 shares of the company's stock worth $17,246,000 after buying an additional 339,277 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Academy Sports and Outdoors by 44.0% during the 3rd quarter. Bank of America Corp DE now owns 781,116 shares of the company's stock worth $39,071,000 after buying an additional 238,778 shares in the last quarter.

Analyst Ratings Changes

ASO has been the topic of a number of research reports. B. Riley Financial reiterated a "buy" rating on shares of Academy Sports and Outdoors in a report on Wednesday, April 8th. Guggenheim boosted their target price on shares of Academy Sports and Outdoors from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, April 8th. Stephens initiated coverage on shares of Academy Sports and Outdoors in a report on Wednesday, May 13th. They issued an "overweight" rating and a $78.00 target price on the stock. Barclays boosted their target price on shares of Academy Sports and Outdoors from $49.00 to $55.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 8th. Finally, Truist Financial set a $54.00 price target on shares of Academy Sports and Outdoors in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $59.87.

Academy Sports and Outdoors Stock Down 4.2%

Academy Sports and Outdoors stock opened at $52.80 on Friday. The firm has a market cap of $3.41 billion, a PE ratio of 9.50, a P/E/G ratio of 0.82 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.44 and a current ratio of 1.89. The firm's 50 day moving average price is $54.55 and its two-hundred day moving average price is $54.20. Academy Sports and Outdoors, Inc. has a twelve month low of $39.87 and a twelve month high of $62.44.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released its quarterly earnings data on Tuesday, March 17th. The company reported $1.97 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.08). The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.76 billion. Academy Sports and Outdoors had a net margin of 6.22% and a return on equity of 17.88%. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.96 EPS. On average, research analysts predict that Academy Sports and Outdoors, Inc. will post 5.94 EPS for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 20th were paid a $0.15 dividend. The ex-dividend date was Friday, March 20th. This represents a $0.60 annualized dividend and a yield of 1.1%. This is a boost from Academy Sports and Outdoors's previous quarterly dividend of $0.13. Academy Sports and Outdoors's dividend payout ratio (DPR) is currently 10.79%.

Insiders Place Their Bets

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 4,000 shares of the company's stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $60.00, for a total value of $240,000.00. Following the transaction, the director owned 7,835 shares in the company, valued at approximately $470,100. This represents a 33.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.62% of the company's stock.

Academy Sports and Outdoors Profile

Academy Sports and Outdoors is a leading specialty retailer of sporting goods and outdoor gear, operating more than 260 stores across the United States. Headquartered in Katy, Texas, the company offers a broad assortment of merchandise spanning athletic footwear and apparel, team sports equipment, camping and outdoor recreation products, hunting and fishing supplies, and fitness accessories. In addition to its brick-and-mortar footprint, Academy serves customers through its e-commerce platform, offering online ordering, in-store pickup, and home delivery options.

The company's product portfolio includes seasonal and year-round categories designed to meet the needs of both casual enthusiasts and serious athletes.

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