LSV Asset Management Grows Position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Key Points

• LSV Asset Management increased its holdings in Academy Sports and Outdoors by 12.5%, acquiring an additional 242,300 shares, bringing its total ownership to approximately 3.28% valued at $99.5 million.
• The stock recently opened at $49.27, with a market capitalization of $3.28 billion, a P/E ratio of 9.06, and a dividend yield of 1.1% after announcing a quarterly dividend of $0.13.
• Academy Sports and Outdoors reported a quarterly earnings miss, with EPS of $0.76, falling short of analysts' expectations of $0.89, alongside a revenue of $1.35 billion, slightly below the forecast of $1.38 billion.

LSV Asset Management lifted its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 12.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,182,341 shares of the company's stock after buying an additional 242,300 shares during the period. LSV Asset Management owned approximately 3.28% of Academy Sports and Outdoors worth $99,537,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ASO. Your Advocates Ltd. LLP boosted its position in shares of Academy Sports and Outdoors by 101.5% during the first quarter. Your Advocates Ltd. LLP now owns 816 shares of the company's stock valued at $37,000 after buying an additional 411 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in 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 acquiring an additional 362 shares during the period. LGT Financial Advisors LLC lifted its holdings in Academy Sports and Outdoors by 1,041.7% in the fourth quarter. LGT Financial Advisors LLC now owns 1,096 shares of the company's stock valued at $63,000 after acquiring an additional 1,000 shares during the period. Nisa Investment Advisors LLC lifted its holdings in 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 acquiring an additional 293 shares during the period. Finally, US Bancorp DE lifted its holdings in 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 acquiring an additional 1,221 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ASO. Citigroup lowered their target price on Academy Sports and Outdoors from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Wednesday, June 4th. Truist Financial increased their target price 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. Morgan Stanley decreased their price objective on Academy Sports and Outdoors from $55.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 11th. Bank of America decreased their price objective on 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, UBS Group decreased their price objective on Academy Sports and Outdoors from $54.00 to $48.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 4th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Academy Sports and Outdoors currently has a consensus rating of "Moderate Buy" and an average price target of $57.53.

Academy Sports and Outdoors Price Performance

Shares of NASDAQ:ASO traded up $0.73 during trading on Wednesday, hitting $51.61. 82,331 shares of the company's stock were exchanged, compared to its average volume of 1,665,900. 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 52-week low of $33.34 and a 52-week high of $64.61. The business's 50-day simple moving average is $47.94 and its 200 day simple moving average is $46.45. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 0.97 and a beta of 1.30.

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 the consensus estimate of $0.89 by ($0.13). Academy Sports and Outdoors had a return on equity of 19.62% and a net margin of 6.55%. The business had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the prior year, the business posted $1.08 EPS. The business's revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities analysts predict that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current year.

Academy Sports and Outdoors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Thursday, June 19th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.0%. The ex-dividend date was Wednesday, June 18th. Academy Sports and Outdoors's dividend payout ratio (DPR) is currently 9.56%.

Insiders Place Their Bets

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

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.