Tensile Capital Management LP Sells 70,000 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Tensile Capital Management LP decreased its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 11.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 527,039 shares of the company's stock after selling 70,000 shares during the period. Academy Sports and Outdoors accounts for about 3.2% of Tensile Capital Management LP's holdings, making the stock its 13th biggest position. Tensile Capital Management LP owned about 0.76% of Academy Sports and Outdoors worth $30,321,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Cullen Frost Bankers Inc. grew its position in shares of Academy Sports and Outdoors by 3.3% during the 4th quarter. Cullen Frost Bankers Inc. now owns 6,565 shares of the company's stock valued at $378,000 after acquiring an additional 210 shares during the period. Nichols & Pratt Advisers LLP MA grew its position in shares of Academy Sports and Outdoors by 4.7% during the 4th quarter. Nichols & Pratt Advisers LLP MA now owns 5,600 shares of the company's stock valued at $322,000 after acquiring an additional 250 shares during the period. Xponance Inc. raised its position in shares of Academy Sports and Outdoors by 5.7% in the fourth quarter. Xponance Inc. now owns 4,916 shares of the company's stock valued at $283,000 after purchasing an additional 266 shares during the period. Blue Trust Inc. raised its position in shares of Academy Sports and Outdoors by 14.8% in the fourth quarter. Blue Trust Inc. now owns 2,591 shares of the company's stock valued at $151,000 after purchasing an additional 334 shares during the period. Finally, Rafferty Asset Management LLC raised its position in shares of Academy Sports and Outdoors by 4.8% in the fourth quarter. Rafferty Asset Management LLC now owns 7,613 shares of the company's stock valued at $438,000 after purchasing an additional 346 shares during the period.

Wall Street Analysts Forecast Growth

ASO has been the topic of several research reports. Citigroup lowered their price target on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Loop Capital lowered their price target on shares of Academy Sports and Outdoors from $77.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. UBS Group lowered their price target on shares of Academy Sports and Outdoors from $58.00 to $55.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 18th. Jefferies Financial Group set a $60.00 price target on shares of Academy Sports and Outdoors in a research report on Thursday, March 20th. Finally, Evercore ISI lowered their price target on shares of Academy Sports and Outdoors from $54.00 to $53.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 1st. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $57.75.

Academy Sports and Outdoors Price Performance

NASDAQ ASO traded down $0.48 on Tuesday, hitting $44.66. The stock had a trading volume of 1,124,555 shares, compared to its average volume of 1,642,631. The firm has a 50-day moving average of $41.53 and a 200-day moving average of $48.59. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 7.33, a price-to-earnings-growth ratio of 1.02 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 $64.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 1.57.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.14. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. The business's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.21 EPS. Equities analysts expect that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current year.

Academy Sports and Outdoors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, March 25th were issued a $0.13 dividend. This is a positive change from Academy Sports and Outdoors's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, March 25th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.16%. Academy Sports and Outdoors's dividend payout ratio is presently 9.01%.

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.