Academy Sports and Outdoors, Inc. $ASO Shares Sold by LPL Financial LLC

Key Points

• LPL Financial LLC has reduced its stake in Academy Sports and Outdoors by 57.5%, selling 52,623 shares during the first quarter, leaving it with 38,831 shares valued at approximately $1.77 million.
• Despite LPL's sell-off, other institutional investors like TD Private Client Wealth LLC and LGT Financial Advisors LLC have increased their holdings significantly, indicating mixed institutional interest in ASO stock.
• Academy Sports and Outdoors reported disappointing earnings for their latest quarter, falling short of expectations with an EPS of $0.76, contributing to a 9% year-over-year revenue decline.

LPL Financial LLC trimmed its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 57.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,831 shares of the company's stock after selling 52,623 shares during the period. LPL Financial LLC owned about 0.06% of Academy Sports and Outdoors worth $1,771,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Heartland Advisors Inc. lifted its position in shares of Academy Sports and Outdoors by 110.6% in the first quarter. Heartland Advisors Inc. now owns 147,450 shares of the company's stock valued at $6,725,000 after acquiring an additional 77,450 shares in the last quarter. Royce & Associates LP lifted its position in shares of Academy Sports and Outdoors by 8.4% in the first quarter. Royce & Associates LP now owns 1,273,158 shares of the company's stock valued at $58,069,000 after acquiring an additional 98,582 shares in the last quarter. Madison Asset Management LLC purchased a new position in shares of Academy Sports and Outdoors in the first quarter valued at approximately $205,000. Choreo LLC lifted its position in shares of Academy Sports and Outdoors by 76.2% in the first quarter. Choreo LLC now owns 8,459 shares of the company's stock valued at $387,000 after acquiring an additional 3,657 shares in the last quarter. Finally, Trust Investment Advisors lifted its position in shares of Academy Sports and Outdoors by 1.9% in the first quarter. Trust Investment Advisors now owns 15,466 shares of the company's stock valued at $705,000 after acquiring an additional 294 shares in the last quarter.

Analysts Set New Price Targets

Several research firms recently commented on ASO. Telsey Advisory Group increased their price target on Academy Sports and Outdoors from $58.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Truist Financial increased their price target on Academy Sports and Outdoors from $45.00 to $47.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. 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. 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. Finally, UBS Group cut their target price on Academy Sports and Outdoors from $54.00 to $48.00 and set a "neutral" rating for the company in a research note on Wednesday, June 4th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $58.24.

Insider Buying and Selling at Academy Sports and Outdoors

In other news, Director Christopher Lee Turner sold 4,400 shares of the business's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $44.48, for a total value of $195,712.00. Following the completion of the sale, the director directly owned 7,084 shares of the company's stock, valued at approximately $315,096.32. The trade was a 38.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.62% of the company's stock.

Academy Sports and Outdoors Stock Down 0.9%

NASDAQ:ASO traded down $0.5040 during midday trading on Monday, reaching $53.4460. The company had a trading volume of 583,092 shares, compared to its average volume of 1,624,858. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 1.01 and a beta of 1.30. The stock's fifty day simple moving average is $50.37 and its 200-day simple moving average is $46.27. Academy Sports and Outdoors, Inc. has a 12-month low of $33.34 and a 12-month high of $64.61. The company has a current ratio of 1.52, a quick ratio of 0.29 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released its earnings results 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 company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.38 billion. Academy Sports and Outdoors had a net margin of 6.55% and a return on equity of 19.62%. The company's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the business posted $1.08 earnings per share. Academy Sports and Outdoors has set its FY 2025 guidance at 5.450-6.25 EPS. On average, sell-side analysts anticipate that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Thursday, June 19th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, June 18th. Academy Sports and Outdoors's payout ratio is presently 9.56%.

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.