Pacer Advisors Inc. Sells 1,944,143 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Key Points

• Pacer Advisors Inc. has significantly reduced its holdings in Academy Sports and Outdoors by 73.4%, owning approximately $32.16 million worth of shares after selling over 1.9 million shares.
• Academy Sports and Outdoors recently reported a net income miss, earning $0.76 per share, which is lower than the consensus estimate of $0.89, alongside a 0.9% decrease in quarterly revenue year-over-year.
• A recent quarterly dividend of $0.13 per share was paid, translating to a 0.94% yield, indicating a modest return for investors amid fluctuations in stock performance.

Pacer Advisors Inc. cut its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 73.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 705,133 shares of the company's stock after selling 1,944,143 shares during the period. Pacer Advisors Inc. owned about 1.06% of Academy Sports and Outdoors worth $32,161,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. TD Private Client Wealth LLC lifted its stake 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 buying an additional 362 shares during the last quarter. LGT Financial Advisors LLC boosted 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 last quarter. Nisa Investment Advisors LLC grew its stake 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 purchasing an additional 293 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Academy Sports and Outdoors by 724.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,625 shares of the company's stock worth $93,000 after buying an additional 1,428 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Academy Sports and Outdoors by 203.0% in the 1st quarter. Blue Trust Inc. now owns 2,121 shares of the company's stock valued at $97,000 after buying an additional 1,421 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ASO shares. Citigroup cut their target price on Academy Sports and Outdoors from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday, June 4th. Wells Fargo & Company increased their price objective on shares of Academy Sports and Outdoors from $38.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Telsey Advisory Group boosted their target price on shares of Academy Sports and Outdoors from $58.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Bank of America decreased their price target 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, Evercore ISI reduced their target price on shares of Academy Sports and Outdoors from $54.00 to $53.00 and set an "in-line" rating for the company in a research note on Tuesday, April 1st. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $57.06.

Insider Activity

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 transaction of $195,712.00. Following the sale, the director directly owned 7,084 shares in the company, valued at approximately $315,096.32. The trade was a 38.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.62% of the company's stock.

Academy Sports and Outdoors Price Performance

Shares of Academy Sports and Outdoors stock traded down $0.60 on Wednesday, hitting $53.26. 295,065 shares of the company traded hands, compared to its average volume of 1,669,603. The stock has a market capitalization of $3.54 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 1.05 and a beta of 1.29. Academy Sports and Outdoors, Inc. has a 52 week low of $33.34 and a 52 week high of $64.61. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.29 and a current ratio of 1.52. The business has a 50-day simple moving average of $46.97 and a 200 day simple moving average of $46.52.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last announced its quarterly earnings data 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 net margin of 6.55% and a return on equity of 19.62%. The company 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 posted $1.08 EPS. The business's quarterly revenue was down .9% compared to the same quarter last year. Research analysts expect 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. Investors of record on Thursday, June 19th were issued a $0.13 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.52 annualized dividend and a yield of 0.98%. Academy Sports and Outdoors's dividend payout ratio (DPR) 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.