Russell Investments Group Ltd. Acquires 35,190 Shares of Academy Sports and Outdoors, Inc. $ASO

Key Points

• Russell Investments Group Ltd. increased its stake in Academy Sports and Outdoors by 21.3%, now holding 200,401 shares valued at approximately $9.14 million.
• Several institutional investors, including HighTower Advisors LLC and Nuveen LLC, have also increased their holdings in Academy Sports and Outdoors in the first quarter of the year.
• Wall Street analysts have varying price targets for the stock, with consensus rating as "Moderate Buy" and a target price of $58.24.

Russell Investments Group Ltd. lifted its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 21.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 200,401 shares of the company's stock after acquiring an additional 35,190 shares during the period. Russell Investments Group Ltd. owned 0.30% of Academy Sports and Outdoors worth $9,140,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. CWM LLC lifted its position in Academy Sports and Outdoors by 7.3% during the first quarter. CWM LLC now owns 3,888 shares of the company's stock worth $177,000 after buying an additional 266 shares during the period. SummerHaven Investment Management LLC raised its holdings in shares of Academy Sports and Outdoors by 1.9% during the 1st quarter. SummerHaven Investment Management LLC now owns 14,874 shares of the company's stock valued at $678,000 after buying an additional 275 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Academy Sports and Outdoors by 4.6% during 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. Moody National Bank Trust Division raised its holdings in shares of Academy Sports and Outdoors by 1.7% during the 1st quarter. Moody National Bank Trust Division now owns 17,636 shares of the company's stock valued at $804,000 after buying an additional 287 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in Academy Sports and Outdoors by 25.6% during the 1st 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.

Insider Activity

In other news, Director Christopher Lee Turner sold 4,400 shares of the stock in a transaction that occurred 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 directly owned 7,084 shares of the company's stock, valued at approximately $315,096.32. This represents a 38.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.62% of the company's stock.

Academy Sports and Outdoors Stock Up 4.6%

Shares of ASO traded up $2.35 during trading hours on Friday, hitting $53.95. 1,098,806 shares of the company were exchanged, compared to its average volume of 1,262,972. The company has a market cap of $3.59 billion, a PE ratio of 9.92, a PEG ratio of 1.01 and a beta of 1.30. The firm's 50 day moving average is $50.37 and its 200-day moving average is $46.31. 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.

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

Academy Sports and Outdoors Announces Dividend

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 $0.13 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.52 annualized dividend and a yield of 1.0%. Academy Sports and Outdoors's dividend payout ratio is 9.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley lowered their price objective on Academy Sports and Outdoors from $55.00 to $52.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 11th. Telsey Advisory Group boosted their price objective on 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 reduced their price target on Academy Sports and Outdoors from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Wednesday, June 11th. Wells Fargo & Company boosted their price target on Academy Sports and Outdoors from $43.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. Finally, Monness Crespi & Hardt assumed coverage on Academy Sports and Outdoors in a research note on Monday, August 4th. They issued a "buy" rating and a $65.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Academy Sports and Outdoors has a consensus rating of "Moderate Buy" and a consensus target price of $58.24.

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.