Vanguard Group Inc. Reduces Stock Position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Key Points

• Vanguard Group Inc. reduced its stake in Academy Sports and Outdoors by 2.7%, now holding approximately 11.63% of the company's stock valued at $352.7 million.
• Academy Sports reported earnings per share of $0.76 for the last quarter, missing the consensus estimate of $0.89, and recorded a revenue of $1.35 billion, which was lower than expected.
• The company declared a quarterly dividend of $0.13, representing a 1.0% yield on an annualized basis, reflecting a dividend payout ratio of 9.56%.

Vanguard Group Inc. cut its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 2.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,733,764 shares of the company's stock after selling 210,953 shares during the period. Vanguard Group Inc. owned approximately 11.63% of Academy Sports and Outdoors worth $352,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Your Advocates Ltd. LLP grew its position in Academy Sports and Outdoors by 101.5% in the first quarter. Your Advocates Ltd. LLP now owns 816 shares of the company's stock worth $37,000 after acquiring an additional 411 shares during the period. TD Private Client Wealth LLC lifted its stake in Academy Sports and Outdoors by 45.6% during the first quarter. TD Private Client Wealth LLC now owns 1,156 shares of the company's stock worth $53,000 after purchasing an additional 362 shares in the last quarter. LGT Financial Advisors LLC lifted its stake in Academy Sports and Outdoors by 1,041.7% during the fourth quarter. LGT Financial Advisors LLC now owns 1,096 shares of the company's stock worth $63,000 after purchasing an additional 1,000 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Academy Sports and Outdoors by 25.6% during the first quarter. Nisa Investment Advisors LLC now owns 1,438 shares of the company's stock worth $66,000 after purchasing an additional 293 shares in the last quarter. Finally, US Bancorp DE lifted its stake in Academy Sports and Outdoors by 280.0% during the first quarter. US Bancorp DE now owns 1,657 shares of the company's stock worth $76,000 after purchasing an additional 1,221 shares in the last quarter.

Insider Buying and Selling

In related news, Director Christopher Lee Turner sold 4,400 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $44.48, for a total value of $195,712.00. Following the completion of the sale, the director owned 7,084 shares in the company, valued at $315,096.32. This trade represents a 38.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.62% of the stock is currently owned by insiders.

Academy Sports and Outdoors Stock Performance

Shares of ASO stock opened at $54.02 on Friday. The stock's 50-day moving average is $49.58 and its two-hundred day moving average is $46.30. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 1.01 and a beta of 1.30. 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 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 issued its quarterly earnings data on Tuesday, June 10th. The company reported $0.76 earnings per share (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 firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the business posted $1.08 EPS. The business's revenue for the quarter was down .9% compared to the same quarter last year. Analysts predict that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Thursday, June 19th were given a $0.13 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.52 dividend on an annualized basis and a yield of 1.0%. Academy Sports and Outdoors's dividend payout ratio (DPR) is presently 9.56%.

Wall Street Analyst Weigh In

ASO has been the topic of several analyst reports. Loop Capital set a $65.00 price objective on Academy Sports and Outdoors in a research note on Monday, July 21st. Telsey Advisory Group increased their price objective on Academy Sports and Outdoors from $58.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. UBS Group reduced their price objective on 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. Morgan Stanley reduced their price objective on 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. Finally, Monness Crespi & Hardt initiated 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. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.24.

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.

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