The Manufacturers Life Insurance Company Has $28.97 Million Stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

The Manufacturers Life Insurance Company lowered its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 17.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 503,558 shares of the company's stock after selling 105,447 shares during the period. The Manufacturers Life Insurance Company owned 0.73% of Academy Sports and Outdoors worth $28,970,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. AlphaQuest LLC boosted its position in shares of Academy Sports and Outdoors by 240.8% in the fourth quarter. AlphaQuest LLC now owns 702 shares of the company's stock worth $40,000 after buying an additional 496 shares during the period. Parkside Financial Bank & Trust grew its holdings in Academy Sports and Outdoors by 1,307.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 985 shares of the company's stock valued at $57,000 after purchasing an additional 915 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Academy Sports and Outdoors by 242.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,190 shares of the company's stock worth $69,000 after buying an additional 843 shares during the period. Sterling Capital Management LLC lifted its holdings in Academy Sports and Outdoors by 724.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,625 shares of the company's stock worth $93,000 after buying an additional 1,428 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Academy Sports and Outdoors by 14.8% during the fourth quarter. Blue Trust Inc. now owns 2,591 shares of the company's stock valued at $151,000 after acquiring an additional 334 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ASO. TD Cowen lifted their price objective on Academy Sports and Outdoors from $54.00 to $61.00 and gave the stock a "hold" rating in a report on Wednesday, January 8th. UBS Group reduced their price objective on shares of Academy Sports and Outdoors from $58.00 to $55.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 18th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $60.00 price target on shares of Academy Sports and Outdoors in a research report on Monday, March 17th. Wedbush lowered their price objective on Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Finally, Morgan Stanley decreased their price objective on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set an "equal weight" rating for the company in a report on Friday, March 21st. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $57.81.

Academy Sports and Outdoors Price Performance

Shares of NASDAQ:ASO traded down $1.29 during trading hours on Monday, hitting $37.80. 1,273,007 shares of the company's stock traded hands, compared to its average volume of 1,624,828. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 1.57. The company's fifty day simple moving average is $42.83 and its two-hundred day simple moving average is $49.41. 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 market cap of $2.51 billion, a price-to-earnings ratio of 6.21, a price-to-earnings-growth ratio of 1.02 and a beta of 1.29.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.14. Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The company had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter in the prior year, the company earned $2.21 earnings per share. The firm's revenue was down 6.6% on a year-over-year basis. As a group, equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, March 25th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.38%. This is a boost from Academy Sports and Outdoors's previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, March 25th. Academy Sports and Outdoors's 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.