Westwood Holdings Group Inc. Has $90.90 Million Holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Key Points

• Westwood Holdings Group Inc. has increased its stake in Academy Sports and Outdoors, Inc. by 36.1%, acquiring an additional 528,367 shares, bringing its total ownership to around 3.00% valued at approximately $90.9 million.
• Academy Sports reported $0.76 earnings per share for the latest quarter, which was below analysts' expectation of $0.89, with revenues decreasing by 0.9% year-over-year.
• The company recently announced a quarterly dividend of $0.13 per share, illustrating a 1.0% yield and a low dividend payout ratio of 9.56%.

Westwood Holdings Group Inc. grew its position in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 36.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,992,997 shares of the company's stock after purchasing an additional 528,367 shares during the quarter. Westwood Holdings Group Inc. owned 3.00% of Academy Sports and Outdoors worth $90,901,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Your Advocates Ltd. LLP grew its holdings in shares of Academy Sports and Outdoors by 101.5% in the 1st 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 last quarter. TD Private Client Wealth LLC grew its holdings in shares of Academy Sports and Outdoors by 45.6% in the 1st quarter. TD Private Client Wealth LLC now owns 1,156 shares of the company's stock worth $53,000 after acquiring an additional 362 shares during the last quarter. LGT Financial Advisors LLC grew its holdings in shares of Academy Sports and Outdoors by 1,041.7% in the 4th quarter. LGT Financial Advisors LLC now owns 1,096 shares of the company's stock worth $63,000 after acquiring an additional 1,000 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of 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 worth $66,000 after acquiring an additional 293 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Academy Sports and Outdoors by 280.0% in the 1st quarter. US Bancorp DE now owns 1,657 shares of the company's stock worth $76,000 after acquiring an additional 1,221 shares during the last quarter.

Insider Buying and Selling at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Christopher Lee Turner sold 4,400 shares of the business's stock in a transaction dated 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 sale, the director owned 7,084 shares of the company's stock, valued at $315,096.32. The trade was a 38.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ASO. Bank of America decreased their target price on Academy Sports and Outdoors from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Wednesday, June 11th. Telsey Advisory Group lifted their target price on Academy Sports and Outdoors from $58.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Truist Financial lifted their price target on Academy Sports and Outdoors from $45.00 to $47.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Loop Capital set a $65.00 price target on Academy Sports and Outdoors in a research report on Monday, July 21st. Finally, Morgan Stanley decreased 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 report on Wednesday, June 11th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $57.53.

Academy Sports and Outdoors Stock Down 2.9%

NASDAQ ASO traded down $1.51 on Thursday, reaching $50.20. The stock had a trading volume of 913,610 shares, compared to its average volume of 1,445,853. The business has a 50 day moving average price of $48.33 and a 200 day moving average price of $46.47. The company has a current ratio of 1.52, a quick ratio of 0.29 and a debt-to-equity ratio of 0.25. 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 market capitalization of $3.34 billion, a price-to-earnings ratio of 9.23, a P/E/G ratio of 0.97 and a beta of 1.30.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last issued its earnings results on Tuesday, June 10th. The company reported $0.76 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 during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter last year, the firm earned $1.08 EPS. The business's revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts forecast that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

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

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.