Tectonic Advisors LLC Raises Stock Holdings in Academy Sports and Outdoors, Inc. $ASO

Key Points

• Tectonic Advisors LLC raised its stake in Academy Sports and Outdoors (NASDAQ:ASO) by 39.2% in Q4, buying 17,741 shares to hold 63,029 shares worth about $3.15 million, and several other institutional investors (e.g., Dimensional, American Century, Boston Partners) also materially increased positions.
• ASO missed recent quarterly estimates with EPS of $1.97 versus $2.05 expected and revenue of $1.72B versus $1.76B expected (revenue +2.5% YoY), and the company raised its quarterly dividend to $0.15 ($0.60 annualized, ~1.1% yield).
• Shares trade around $56.37 (market cap ~$3.63B, P/E 10.14); Wall Street consensus is an average "Hold" rating with an average price target of $58.43 and mixed analyst revisions.

Tectonic Advisors LLC raised its position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 39.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,029 shares of the company's stock after buying an additional 17,741 shares during the quarter. Tectonic Advisors LLC owned approximately 0.09% of Academy Sports and Outdoors worth $3,149,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of Academy Sports and Outdoors by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 3,879,904 shares of the company's stock valued at $194,077,000 after purchasing an additional 46,305 shares during the period. American Century Companies Inc. increased its holdings in shares of Academy Sports and Outdoors by 6.1% in the third quarter. American Century Companies Inc. now owns 2,176,853 shares of the company's stock valued at $108,886,000 after purchasing an additional 125,398 shares during the period. Westwood Holdings Group Inc. increased its holdings in shares of Academy Sports and Outdoors by 5.9% in the second quarter. Westwood Holdings Group Inc. now owns 2,110,172 shares of the company's stock valued at $94,557,000 after purchasing an additional 117,175 shares during the period. Royce & Associates LP increased its holdings in shares of Academy Sports and Outdoors by 4.3% in the third quarter. Royce & Associates LP now owns 1,329,347 shares of the company's stock valued at $66,494,000 after purchasing an additional 55,210 shares during the period. Finally, Boston Partners increased its holdings in shares of Academy Sports and Outdoors by 85.5% in the third quarter. Boston Partners now owns 1,302,141 shares of the company's stock valued at $65,416,000 after purchasing an additional 600,335 shares during the period.

Academy Sports and Outdoors Stock Performance

Shares of ASO stock opened at $56.37 on Monday. The business's fifty day moving average price is $57.34 and its 200 day moving average price is $53.30. Academy Sports and Outdoors, Inc. has a 1-year low of $34.77 and a 1-year high of $62.44. The firm has a market capitalization of $3.63 billion, a PE ratio of 10.14, a P/E/G ratio of 0.87 and a beta of 1.21. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.89 and a quick ratio of 0.44.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last announced its quarterly earnings data on Tuesday, March 17th. The company reported $1.97 earnings per share for the quarter, missing analysts' consensus estimates of $2.05 by ($0.08). Academy Sports and Outdoors had a return on equity of 17.88% and a net margin of 6.22%.The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the company earned $1.96 EPS. The company's revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts forecast that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 20th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.1%. This is a positive change from Academy Sports and Outdoors's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, March 20th. Academy Sports and Outdoors's dividend payout ratio is currently 10.79%.

Wall Street Analyst Weigh In

ASO has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on Academy Sports and Outdoors from $52.00 to $55.00 and gave the company an "equal weight" rating in a report on Thursday, January 15th. Wells Fargo & Company boosted their target price on Academy Sports and Outdoors from $52.00 to $56.00 and gave the company an "equal weight" rating in a report on Wednesday, April 8th. Telsey Advisory Group reissued an "outperform" rating and issued a $65.00 target price on shares of Academy Sports and Outdoors in a report on Tuesday, March 17th. Truist Financial dropped their target price on Academy Sports and Outdoors from $59.00 to $52.00 and set a "hold" rating on the stock in a report on Tuesday, March 17th. Finally, B. Riley Financial reissued a "buy" rating on shares of Academy Sports and Outdoors in a report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $58.43.

Academy Sports and Outdoors Company Profile

Academy Sports and Outdoors is a leading specialty retailer of sporting goods and outdoor gear, operating more than 260 stores across the United States. Headquartered in Katy, Texas, the company offers a broad assortment of merchandise spanning athletic footwear and apparel, team sports equipment, camping and outdoor recreation products, hunting and fishing supplies, and fitness accessories. In addition to its brick-and-mortar footprint, Academy serves customers through its e-commerce platform, offering online ordering, in-store pickup, and home delivery options.

The company's product portfolio includes seasonal and year-round categories designed to meet the needs of both casual enthusiasts and serious athletes.

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