Robotti Robert Increases Stock Holdings in Academy Sports and Outdoors, Inc. $ASO

Key Points

• Robotti Robert has increased its holdings in Academy Sports and Outdoors by 17.2% in the first quarter, owning a total of 96,062 shares worth approximately $4.38 million.
• Multiple institutional investors, including Wells Fargo and Envestnet Asset Management, have also raised their stakes in Academy Sports, indicating growing interest in the stock.
• Academy Sports reported a quarterly earnings miss with $0.76 EPS, falling short of analysts' expectations of $0.89, alongside a 6.55% net margin.

Robotti Robert grew its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,062 shares of the company's stock after purchasing an additional 14,105 shares during the quarter. Academy Sports and Outdoors makes up about 0.9% of Robotti Robert's portfolio, making the stock its 25th biggest holding. Robotti Robert owned approximately 0.14% of Academy Sports and Outdoors worth $4,381,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ASO. Principal Financial Group Inc. raised its holdings in Academy Sports and Outdoors by 1.3% in the 1st quarter. Principal Financial Group Inc. now owns 345,718 shares of the company's stock valued at $15,768,000 after buying an additional 4,279 shares during the period. Fund 1 Investments LLC purchased a new stake in Academy Sports and Outdoors in the 4th quarter valued at about $4,929,000. Wells Fargo & Company MN raised its holdings in Academy Sports and Outdoors by 11.4% in the 4th quarter. Wells Fargo & Company MN now owns 216,686 shares of the company's stock valued at $12,466,000 after buying an additional 22,146 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Academy Sports and Outdoors by 4.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,422 shares of the company's stock valued at $299,000 after buying an additional 283 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Academy Sports and Outdoors in the 4th quarter valued at about $2,342,000.

Wall Street Analyst Weigh In

ASO has been the topic of a number of recent research reports. UBS Group cut their price target on shares of 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. Citigroup cut their price target on shares of 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. Morgan Stanley cut their price target on shares of 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. Telsey Advisory Group boosted their price target on shares of Academy Sports and Outdoors from $58.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Loop Capital set a $65.00 price objective on Academy Sports and Outdoors in a research report on Monday, July 21st. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.24.

Academy Sports and Outdoors Stock Performance

Shares of ASO stock traded down $0.21 during trading hours on Monday, hitting $53.81. The stock had a trading volume of 987,654 shares, compared to its average volume of 1,641,386. The firm has a market capitalization of $3.58 billion, a PE ratio of 9.89, a PEG ratio of 1.01 and a beta of 1.30. Academy Sports and Outdoors, Inc. has a twelve month low of $33.34 and a twelve month high of $64.61. The stock's 50 day moving average is $49.58 and its 200 day moving average is $46.24. 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 (NASDAQ:ASO - Get Free Report) last released its quarterly earnings results on Tuesday, June 10th. The company reported $0.76 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 company had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter last year, the company earned $1.08 EPS. Academy Sports and Outdoors's revenue for the quarter was down .9% compared to the same quarter last year. As a group, research analysts forecast 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 business also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Thursday, June 19th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Wednesday, June 18th. Academy Sports and Outdoors's dividend payout ratio is 9.56%.

Insider Activity at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Christopher Lee Turner sold 4,400 shares of the 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 completion of the transaction, the director owned 7,084 shares in the company, valued at approximately $315,096.32. This represents a 38.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.62% of the stock is owned by company insiders.

Academy Sports and Outdoors 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.