The Manufacturers Life Insurance Company Raises Stock Holdings in Academy Sports and Outdoors, Inc. $ASO

Key Points

• The Manufacturers Life Insurance Company has increased its stake in Academy Sports and Outdoors by 12.7%, owning a total of 567,686 shares valued at approximately $25.9 million.
• Academy Sports and Outdoors reported a net margin of 6.55% and a revenue of $1.35 billion for the recent quarter, which was a 0.9% decrease year-over-year.
• The company declared a quarterly dividend of $0.13 per share, representing a 1.0% dividend yield and a payout ratio of 9.56%.

The Manufacturers Life Insurance Company lifted its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 12.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 567,686 shares of the company's stock after acquiring an additional 64,128 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.85% of Academy Sports and Outdoors worth $25,892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC lifted its position in shares of Academy Sports and Outdoors by 7.3% in the first quarter. CWM LLC now owns 3,888 shares of the company's stock valued at $177,000 after buying an additional 266 shares during the last quarter. SummerHaven Investment Management LLC increased 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 worth $678,000 after acquiring an additional 275 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake 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 acquiring an additional 283 shares during the period. Moody National Bank Trust Division lifted its holdings in 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 purchasing an additional 287 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Academy Sports and Outdoors by 25.6% in 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 during the period.

Insider Activity

In related news, Director Christopher Lee Turner sold 4,400 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $44.48, for a total transaction of $195,712.00. Following the completion of the transaction, the director owned 7,084 shares in the company, valued at $315,096.32. This represents a 38.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.62% of the company's stock.

Academy Sports and Outdoors Price Performance

Shares of NASDAQ:ASO traded up $0.82 on Friday, hitting $50.86. The company's stock had a trading volume of 1,360,622 shares, compared to its average volume of 1,660,414. The company has a market capitalization of $3.39 billion, a PE ratio of 9.52, a PEG ratio of 0.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.64 and a quick ratio of 0.29. Academy Sports and Outdoors, Inc. has a 1 year low of $33.34 and a 1 year high of $64.61. The company has a 50-day simple moving average of $51.80 and a 200 day simple moving average of $46.35.

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 for the quarter, missing analysts' consensus estimates of $0.89 by ($0.13). The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.38 billion. Academy Sports and Outdoors had a return on equity of 18.47% and a net margin of 6.21%.The company's revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.08 earnings per share. Academy Sports and Outdoors has set its FY 2025 guidance at 5.450-6.25 EPS. Sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 11th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $0.52 annualized dividend and a dividend yield of 1.0%. Academy Sports and Outdoors's dividend payout ratio (DPR) is presently 9.74%.

Analyst Ratings Changes

ASO has been the subject of several recent analyst reports. Citigroup cut shares of Academy Sports and Outdoors from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $55.00 to $50.00 in a research report on Wednesday. Evercore ISI lifted their target price on shares of Academy Sports and Outdoors from $50.00 to $55.00 and gave the stock an "in-line" rating in a research note on Tuesday, August 26th. Loop Capital set a $65.00 price objective on shares of Academy Sports and Outdoors in a research note on Monday, July 21st. Cowen reiterated a "hold" rating on shares of Academy Sports and Outdoors in a report on Wednesday. Finally, Monness Crespi & Hardt began coverage on shares of Academy Sports and Outdoors in a report on Monday, August 4th. They issued a "buy" rating and a $65.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $58.71.

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.